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The_prodigy
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October 22, 2017, 06:26:16 AM
 #41

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?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

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October 22, 2017, 07:58:48 AM
 #42

It is indeed that the bitcoin is now becoming the most dominant cryptocurrency in the market and the altcoins are just going below the bitcoin and it is a strong indication that the people are now focusing in bitcoin more than the altcoins. If this will continue then we can easily see a 5 digit us dollar price in the market for bitcoin. Let just see the result in the next incoming years if this bitcoin dominance will continue.

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October 22, 2017, 08:04:17 AM
 #43

yes bitcoin back to top peak because it is from yesterday ETH which incessantly develop its technology. if only bitcoin can work with token or altcoin or develop new bitcoin-based products then bitcoin will always be number 1.

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October 22, 2017, 09:12:24 AM
 #44

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.

There is an impending correction after the bull run and it is happening now. This may just be temporary as the snapshot of bitcoin gold is on 25th so a temporary dip happen in which the price went down below $6k but many still believe that it can achieve again new all time high within three days and after that, that's the time we will see a massive correction depending on what price the strong support is. There are others who said it will be $4k and others are saying $5k. A lot of money will flow back into alts but people are only doing it to have more bitcoin that's why bitcoin will always dominate others. Another coin may dominate the world of cryptocurrency but who knows when.

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October 22, 2017, 09:35:09 AM
 #45

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.

I agree that this is the reason why bitcoin is very popular right now. People heard about the Bitcoin cash fork, maybe missed out on it, and now want to make sure they don't fall behind on the trend.

Along with that, however, Bitcoin has had the strongest growth so far. That has to be an aspect of the interest as well.
Obviously interest in Bitcoin is rising. But the fact that pretty much all altcoins are going down is mostly attributed to the fork. Pretty sure Bitcoin will go down a little and then keep doing its thing after the fork, while altcoins will start rising again once Bitcoin Gold has been dumped into oblivion.

No, bitcoin will never be abandoned and forgotten. It is always taken care of and will be forever. With the constant amount of bitcoin currency, the increased demand for its value keeps increasing, I do not see any impact that can affect the value of bitcoin at the moment.
I meant Bitcoin Gold will be dumped into oblivion. Not Bitcoin. Bitcoin itself will be safe for quite a while, but definitely not forever. It just happens to be the first of its kind, but it's going to have a hard time keeping up progress forever due to how strongly centralized it is by large mining operations.

Correct, being bullish of bitcoin is not forever. If the popularity of it reaches its peak, I think the market will be stable. After the fork, Im sure that bitcoin will be dump because many of them will be returning to altcoins or the other way. Since they have profited from bitcoin, they will be waiting for the dump again to buy at the lower price to buy a popular alt that will surely dominate the market. Everyone are really affected by this Bitcoin Gold

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October 22, 2017, 10:05:50 AM
 #46

While we can say so it is possible that he zeroed out all the alts, but we will wait soon for bitcoin to fall, and maybe there will be more people trusting the various alts.

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October 22, 2017, 10:35:09 AM
 #47

Bitcoin will always dominate the market of cryptocurrencies. It will be because he has the biggest capitalization. Nobody wants to lose the invested money. If bitcoin loses its value the altcoins in General will die. Their purpose is to produce steam from an overheated boiler bitcoin. Next week we will see a breakthrough price of bitcoin. I don't doubt it.

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October 22, 2017, 10:44:17 AM
 #48

While we can say so it is possible that he zeroed out all the alts, but we will wait soon for bitcoin to fall, and maybe there will be more people trusting the various alts.

But the alts are a good way for trading but here we are talking about Dominance of Bitcoin and definitely every time Bitcoin skyrockets and creates new benchmark, its power is felt everywhere, people once again are attracted towards Bitcoin, news headlines flashes once again and also it effects the alts. But I totally agree on the fact that after the fork its value will have a sharp dip and all these factors highly affect the alt market.  But there after all the rumors and ICO bans and Bitcoin cash it can be simply seen that Bitcoin is unstoppable and its dominance is increasing every day.

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October 22, 2017, 10:59:48 AM
 #49

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?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

Many long term user know this.Even they spread the awareness about the bitcoin to their friend and family member.Even my Mom and Dad know ,I am earning my Second salary from the source called Bitcoin.I had quit my real job and start to work in Bitcoin by the sense of Trading,Mining and Participating in a Signature Campaign. Now the price of bitcoin crossed the 6000$ peak .It's due to all of us.We can proud to say we are one of the Responsible for the Bitcoin growth and the increase in price.

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October 22, 2017, 11:02:48 AM
 #50

yes bitcoin back to top peak because it is from yesterday ETH which incessantly develop its technology. if only bitcoin can work with token or altcoin or develop new bitcoin-based products then bitcoin will always be number 1.

BTC will always be on top itself because rest of the altcoin are created based on the this technology and the concept of btc. Yes there are many coins which are trying to be somewhere reaching near btc but yet the no 2 coin is ETH which is still far away anywhere even to bitcoin.

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October 22, 2017, 11:20:09 AM
 #51

I doubt whether the dominance will jump back to the 80-90% we had before Ethereum started taking off. There was a time when Bitcoin's price was stagnation and that is when people started chasing alts for higher returns. Now, when we have momentum, the money is flowing back into Bitcoin.

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October 22, 2017, 11:31:11 AM
 #52

I doubt whether the dominance will jump back to the 80-90% we had before Ethereum started taking off. There was a time when Bitcoin's price was stagnation and that is when people started chasing alts for higher returns. Now, when we have momentum, the money is flowing back into Bitcoin.
It probably won't, due to the immense increase in altcoin projects, which will be getting bigger and bigger and thus decreasing Bitcoin's overall share of the market.

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October 22, 2017, 11:37:45 AM
 #53

I doubt whether the dominance will jump back to the 80-90% we had before Ethereum started taking off. There was a time when Bitcoin's price was stagnation and that is when people started chasing alts for higher returns. Now, when we have momentum, the money is flowing back into Bitcoin.
It probably won't, due to the immense increase in altcoin projects, which will be getting bigger and bigger and thus decreasing Bitcoin's overall share of the market.

It's inevitable given time that bitcoins overall market dominance will fall, despite it having a resurrection of sorts the last few weeks. It is one coin vs an ever growing amount which is over 1000 now, it is simple math to notice that bitcoin faces a tremendous battle to retain such market dominance.

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October 22, 2017, 11:39:20 AM
 #54

I doubt whether the dominance will jump back to the 80-90% we had before Ethereum started taking off. There was a time when Bitcoin's price was stagnation and that is when people started chasing alts for higher returns. Now, when we have momentum, the money is flowing back into Bitcoin.
It probably won't, due to the immense increase in altcoin projects, which will be getting bigger and bigger and thus decreasing Bitcoin's overall share of the market.

It's inevitable given time that bitcoins overall market dominance will fall, despite it having a resurrection of sorts the last few weeks. It is one coin vs an ever growing amount which is over 1000 now, it is simple math to notice that bitcoin faces a tremendous battle to retain such market dominance.
Bitcoin is most likely still going to be the single biggest coin for a long time, but your observation is spot on. One coin can't possibly have more shares than the entire rest of the market now that the mainstream is slowly getting ready to join.

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October 22, 2017, 11:45:29 AM
 #55

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?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

I think the hype of the fork is coming into effect.  The news about Bitcoin Gold and the value or profit that a bitcoin holder can take once fork is done.  Probably greed is driving Bitcoin market upward since more bitcoin means more coins on the forked chain which means a profit for them.


     
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October 22, 2017, 11:47:35 AM
 #56

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.

http://i64.tinypic.com/dh4xx.jpg

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

Any ideas about why this is happening?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

I think the hype of the fork is coming into effect.  The news about Bitcoin Gold and the value or profit that a bitcoin holder can take once fork is done.  Probably greed is driving Bitcoin market upward since more bitcoin means more coins on the forked chain which means a profit for them.
Yes, exact same thing that happened during the Bitcoin Cash fork.

On top of that the crypto market is getting bigger since Bitcoin is in the news almost every day now.

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October 22, 2017, 11:58:15 AM
 #57

For every major rise or fall in Bitcoin prices, there lies some reason apart from growing demand or speculation. Both of these are outcomes of the reason, not the reason theirselves.
This time it's fork which making Bitcoin going upward. Not only Bitcoin Gold but S2X too. People are buying now so that they will be able to get benefits (free money) after the fork. Also media at whole targetting now that Bitcoin will rise even more after fork. So the present hike is due to large influx of new investors.

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criz2fer
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October 22, 2017, 02:52:34 PM
 #58

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.

http://i64.tinypic.com/dh4xx.jpg

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

Any ideas about why this is happening?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

I think the hype of the fork is coming into effect.  The news about Bitcoin Gold and the value or profit that a bitcoin holder can take once fork is done.  Probably greed is driving Bitcoin market upward since more bitcoin means more coins on the forked chain which means a profit for them.
Yes, exact same thing that happened during the Bitcoin Cash fork.

On top of that the crypto market is getting bigger since Bitcoin is in the news almost every day now.

This could be a major pump after the fork or a dump. Although bitcoin cash fork was made, does it become reliable? Does it improve? What will happen after bitcoin gold? People are still sticking to bitcoin because many investors are buying bitcoin because of its known popularity today. Many people are still asking, what is bitcoin?  I think crypto market will still rise in the future

Bitcotalk
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October 22, 2017, 03:00:32 PM
 #59

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.
Exactly there is nothing bad if we say about bitcoin that it will cross minimum of $8000 and you will see this will happen in the end of this year.

For now, how many forks hit the bitcoin still the rehabilitative rate was always less than the last fork’s. So bitcoin will be continuing to grow more and more in international market of crypto, no matter how many hard forks are hitting it.

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BTCMILLIONAIRE
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October 22, 2017, 04:51:32 PM
 #60

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.

http://i64.tinypic.com/dh4xx.jpg

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

Any ideas about why this is happening?


IT might be because that people are now starting to believe in bitcoin in a way that it is becoming more palatable than other cryptocurrencies just because of its longevity and that it is still higher than some of the other currencies. It might also be that the influence and popularity of bitcoin is spreading.

I think the hype of the fork is coming into effect.  The news about Bitcoin Gold and the value or profit that a bitcoin holder can take once fork is done.  Probably greed is driving Bitcoin market upward since more bitcoin means more coins on the forked chain which means a profit for them.
Yes, exact same thing that happened during the Bitcoin Cash fork.

On top of that the crypto market is getting bigger since Bitcoin is in the news almost every day now.

This could be a major pump after the fork or a dump. Although bitcoin cash fork was made, does it become reliable? Does it improve? What will happen after bitcoin gold? People are still sticking to bitcoin because many investors are buying bitcoin because of its known popularity today. Many people are still asking, what is bitcoin?  I think crypto market will still rise in the future
Of course everyone will stick with Bitcoin. Nobody cared about Cash or Gold to begin with. They're just alts that try to use the Bitcoin name for their own gain.

Anyway, we're probably going to see Bitcoin go down a little while altcoins start pumping after the fork.

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