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Author Topic: Bitcoin regaining dominance.  (Read 3031 times)
Nasty23
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October 21, 2017, 01:21:31 AM
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Bitcoin never lost the market dominance mate, too many shitcoins from some private companies with fake market share, too many ICOs with fake

Market share, if you remove them from the equation you'll see that Bitcoin never lost the market dominance. you shouldn't take them as cryptocurrency.

Btc, Eth, Dash, Zcash, Monero. if you take them as cryptocurrencies you will understand.
Yes Bitcoin dominance is always there and there is no other altcoins that can passed Bitcoin capitalization because Bitcoin have a strong community and also it plays a big role in the market that makes other coins to work and provide a big profit to it's investors.

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October 21, 2017, 01:27:34 AM
 #22

Apart from reaching a new ATH, bitcoin is also regaining dominance vs other alts. It was halved between March and June and bitcoin has been slowly regaining it but lately seems to have received a boost.



Source: (https://coinmarketcap.com/charts/#dominance-percentage)

Any ideas about why this is happening?


I think between March and June, altcoins have been equaled or even surpassed bitcoin dominance specially Ethereum because its being used as investment platform for a lot of ICO's. Ethereum proponents even says that it will take over bitcoin and they will be the #1 coins. I still vividly remember that remarks but the so called "flippening" didn't come into fruition and then quickly Ethereum after reaching ATH, lost its luster. Also there's the never ended drama that time regarding fork that hug the lime light around the time frame as well. That's why bitcoin didn't enjoy much increase until June to Aug where we touched $3000 and bitcoin never looked back ever since. My assumption is that investors are really putting their cash into bitcoin because its much safe that your money would regain that much profit if you hodl it longer term. While altcoin is really for short term and its really hard to see the price movement because of those pump and dump groups around.

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October 21, 2017, 01:45:45 AM
 #23

I think between March and June, altcoins have been equaled or even surpassed bitcoin dominance specially Ethereum because its being used as investment platform for a lot of ICO's. Ethereum proponents even says that it will take over bitcoin and they will be the #1 coins. I still vividly remember that remarks but the so called "flippening" didn't come into fruition and then quickly Ethereum after reaching ATH, lost its luster. Also there's the never ended drama that time regarding fork that hug the lime light around the time frame as well. That's why bitcoin didn't enjoy much increase until June to Aug where we touched $3000 and bitcoin never looked back ever since. My assumption is that investors are really putting their cash into bitcoin because its much safe that your money would regain that much profit if you hodl it longer term. While altcoin is really for short term and its really hard to see the price movement because of those pump and dump groups around.

On long term Bitcoin will always rule, sometimes an interesting opportunity can appear to make profit with AltCoins, but as you said, it's on short term, right after making profit this way the investors exchange their money to BTCs again to continue holding, especially now with the imminent Hard Fork that is the most probable reason to have BTC price skyrocketing at this moment.

Sometimes Bitcoin can appear a bit weaker, but even weaker it still rules the Crypto-Currency market and the success of this market depends Bitcoin. If Bitcoin fails for any AltCoin the trust of many investors will finish what compromises all the market.

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October 21, 2017, 01:50:26 AM
 #24

I was shocked when I opened the wallet and it turns out the price of 1 btc = $ 6024, I wonder if that makes the price skyrocket to $ 6024, whereas a week ago the price was only about $ 5200. It looks like the $ 10,000 price will be achieved this year.

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October 21, 2017, 02:05:26 AM
 #25

I was shocked when I opened the wallet and it turns out the price of 1 btc = $ 6024, I wonder if that makes the price skyrocket to $ 6024, whereas a week ago the price was only about $ 5200. It looks like the $ 10,000 price will be achieved this year.
well, despite the existence of the second fork issue, but prices are sky rocket.
I think most people want to save bitcoin in some time to get the Bitcoin Gold bonus

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October 21, 2017, 02:06:37 AM
 #26

I was shocked when I opened the wallet and it turns out the price of 1 btc = $ 6024, I wonder if that makes the price skyrocket to $ 6024, whereas a week ago the price was only about $ 5200. It looks like the $ 10,000 price will be achieved this year.

I'm not sure about the $ 10,000 value this year, but I believe the bitcoin will not stop here, so many people think bitcoin will be back $ 4000 after its spike, but I suppose it's impossible. bitcoin will continue to go up.

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October 21, 2017, 02:51:40 AM
 #27

Apart from reaching a new ATH, bitcoin is also regaining dominance vs other alts. It was halved between March and June and bitcoin has been slowly regaining it but lately seems to have received a boost.



Source: (https://coinmarketcap.com/charts/#dominance-percentage)

Any ideas about why this is happening?

Bitcoin is always dominant, no altcoins can replace its # 1 position.
Bitcoin has existed for a long time, experiencing many events still stand firm. Sometimes it sharply decreases but it always increases again.
We should trust it!

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October 21, 2017, 02:56:39 AM
 #28

Regaining dominance just shows that bitcoins are number one for a reason, and every other altcoin is just going to pump up to heights it cannot sustain. I'm all for investing in risky ventures but at some point you just need to pick a team and stick with it.














 

 

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Don Pedro Dinero
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October 21, 2017, 03:13:25 AM
 #29

Bitcoin never lost the market dominance mate, too many shitcoins from some private companies with fake market share, too many ICOs with fake

Market share, if you remove them from the equation you'll see that Bitcoin never lost the market dominance. you shouldn't take them as cryptocurrency.

Btc, Eth, Dash, Zcash, Monero. if you take them as cryptocurrencies you will understand.

Unless you explain yourself better, I see no sense in what you are saying. Bitcoin never lost significant market cap dominance to shitcoins, it lost it mostly to Ethereum. At its lowest point (as the graph shows) Bitcoin had only 37.8% dominance and Ethereum was 30% (it came up from just 5% three months before). So, most of dominance loss was due to eth and the other coins you call “real” cryptocurrencies and no shitcoins.

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October 21, 2017, 03:18:04 AM
 #30

Bitcoin almost at 60% dominance on all altcoins
Market Cap: $174,046,760,523 / 24h Vol: $4,560,086,203 / BTC Dominance: 58.1%

Nearing to 200 Billion market cap.

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October 21, 2017, 03:43:08 AM
 #31

I think that bitcoins has not really ever loss its dominance over the other alt coins but ethereum did come close to overcome bitcoins.I think that this price had mostly increased due to up coming forks which would had large affect on bitcoins market and can earn profits in bitcoins.This year bitcoins has increased too much ,it came from $900 to $6000 which is amazing.Bitcoins can really comeback from any drop and would overcome any coin trying to overtake them.

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October 21, 2017, 03:59:14 AM
 #32

Apart from reaching a new ATH, bitcoin is also regaining dominance vs other alts. It was halved between March and June and bitcoin has been slowly regaining it but lately seems to have received a boost.



Source: (https://coinmarketcap.com/charts/#dominance-percentage)

Any ideas about why this is happening?


I think between March and June, altcoins have been equaled or even surpassed bitcoin dominance specially Ethereum because its being used as investment platform for a lot of ICO's. Ethereum proponents even says that it will take over bitcoin and they will be the #1 coins. I still vividly remember that remarks but the so called "flippening" didn't come into fruition and then quickly Ethereum after reaching ATH, lost its luster. Also there's the never ended drama that time regarding fork that hug the lime light around the time frame as well. That's why bitcoin didn't enjoy much increase until June to Aug where we touched $3000 and bitcoin never looked back ever since. My assumption is that investors are really putting their cash into bitcoin because its much safe that your money would regain that much profit if you hodl it longer term. While altcoin is really for short term and its really hard to see the price movement because of those pump and dump groups around.
Since I have come to know bitcoin and I get interested into it I see continuous challenges which bitcoin comes across with. All that you have said is that some of the time it is segwit that drags bitcoin price down, sometimes it is fork or a ban or anyother issue which causes the bitcoin price a damage but one thing that I am sure about is that bitcoin is gonna stay on the top of the list. No alts can beat it at the moment.
I saw it's price going up and down and it mostly recovers it price soon. This is all due to the interest of the people attracted towards it and they have trust in bitcoin that they are not gonna lose money here.

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October 21, 2017, 04:20:24 AM
 #33

Bitcoin was dominant and it looks like it will continue to be for future. Other cryptocurrencies cant resist to bitcoin because bitcoin was first father of all coins. There will be other blockchains which can take down bitcoin's popularity for future. Who knows..

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October 21, 2017, 04:22:26 AM
 #34

They are preparing and exchanging their coins or adding more investment in bitcoin. That is all I see for now.
They have seen what happened with BCH and now know what to do in case it will also be an airdrop.
Well thanks to them we can somehow make profit with all the boost that is happening.
But after this, what could happen. I guess it will be time to withdraw.

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October 21, 2017, 05:59:18 AM
 #35

It goes to $6000 plus now a days that's really a large boost for this month as the hard fork will come and the free BTG will give after the fork that's why there is a lot of people who are investing or moving their coins to bitcoin steadily storing them with the wallet that they hold the private key. But the truth is bitcoin will always dominant over the altcoins.

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October 21, 2017, 07:23:03 AM
 #36

I think that what is happening is a simple economics. I was taught in economics that once you have either fear or nostalgic feeling in market or product, it either help to push the popularity of the product positively or negatively .

Thus, in this light, whatever is happening is supporting bitcoin to continue the bullish movement and we know or have speculated (maybe rightly) that the incoming fork is responsible for this. This is causing holders to hold tightly and not to release nor sell because they expect some bonus in their wallet.

Again, because people are not selling, it then means few that are willing to sell will do that at a higher rate, meaning many users chasing few bitcoin available.
This theory is however anchored on one of the economics theories - 'the higher the demand, the higher the price'.
It's mostly because of the upcoming fork and the expectation of free money like during the last one.

Thats what I think too, I've heard that there is gonna be a fork this october, so I guess everyone is just keeping and holding their bitcoin, I heard that the amount what you will get from the fork is same as how much bitcoin you have, I don't know if its true, but I think this is one reason why everyone is buying more bitcoins now.

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October 21, 2017, 09:23:38 AM
 #37

I think that what is happening is a simple economics. I was taught in economics that once you have either fear or nostalgic feeling in market or product, it either help to push the popularity of the product positively or negatively .

Thus, in this light, whatever is happening is supporting bitcoin to continue the bullish movement and we know or have speculated (maybe rightly) that the incoming fork is responsible for this. This is causing holders to hold tightly and not to release nor sell because they expect some bonus in their wallet.

Again, because people are not selling, it then means few that are willing to sell will do that at a higher rate, meaning many users chasing few bitcoin available.
This theory is however anchored on one of the economics theories - 'the higher the demand, the higher the price'.
It's mostly because of the upcoming fork and the expectation of free money like during the last one.

Thats what I think too, I've heard that there is gonna be a fork this october, so I guess everyone is just keeping and holding their bitcoin, I heard that the amount what you will get from the fork is same as how much bitcoin you have, I don't know if its true, but I think this is one reason why everyone is buying more bitcoins now.
I thought the fork was going to be in October as well, but it seems like it's going to be in November? I haven't moved back into Bitcoin though for tax reasons. Selling altcoins would drive the holding periods back and thus increase tax rates, which is bad if you want to pull out profits and relocate them into real estate or stocks for additional safety.

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October 21, 2017, 10:04:27 AM
 #38

I think that what is happening is a simple economics. I was taught in economics that once you have either fear or nostalgic feeling in market or product, it either help to push the popularity of the product positively or negatively .

Thus, in this light, whatever is happening is supporting bitcoin to continue the bullish movement and we know or have speculated (maybe rightly) that the incoming fork is responsible for this. This is causing holders to hold tightly and not to release nor sell because they expect some bonus in their wallet.

Again, because people are not selling, it then means few that are willing to sell will do that at a higher rate, meaning many users chasing few bitcoin available.
This theory is however anchored on one of the economics theories - 'the higher the demand, the higher the price'.
It's mostly because of the upcoming fork and the expectation of free money like during the last one.

Agree with what you have said. With the upcoming fork, for sure most of the users of digital currencies will be holding bitcoins more rather than altcoins. The faith in bitcoin never disappear. Altcoins are just used for more and faster profits. But when it comes to superiority, bitcoin is indeed trusted by many.

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October 21, 2017, 10:16:32 AM
 #39

The real question of concern here is if bitcoin has ever lost the the dominance to start with. This is very obvious that even the market cap statistics is only being modest because based on my understanding of the calculation, market capitalzation= price of the coin X total coin in circulation. Which to me, is not taking consideration other factors that are specific to each coin which would include the total amount to be available in the life time of the coin, the difficulty in mining a coin, the attack they individually get and other qualitative factors.

Putting all these factors together, will show that the 37% is just an average of what the situation is really saying.

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October 22, 2017, 05:06:32 AM
 #40

I think that what is happening is a simple economics. I was taught in economics that once you have either fear or nostalgic feeling in market or product, it either help to push the popularity of the product positively or negatively .

Thus, in this light, whatever is happening is supporting bitcoin to continue the bullish movement and we know or have speculated (maybe rightly) that the incoming fork is responsible for this. This is causing holders to hold tightly and not to release nor sell because they expect some bonus in their wallet.

Again, because people are not selling, it then means few that are willing to sell will do that at a higher rate, meaning many users chasing few bitcoin available.
This theory is however anchored on one of the economics theories - 'the higher the demand, the higher the price'.
It's mostly because of the upcoming fork and the expectation of free money like during the last one.

Agree with what you have said. With the upcoming fork, for sure most of the users of digital currencies will be holding bitcoins more rather than altcoins. The faith in bitcoin never disappear. Altcoins are just used for more and faster profits. But when it comes to superiority, bitcoin is indeed trusted by many.

Lol plus the hopes of getting free bitcoin gold. A lot of people earned easy money with bitcoin cash the last hardfork and who wouldn't want free money right? If there's even going to be a drop in price, it won't be that drastic to cause concern

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