Bitcoin regaining dominance.

[pokeronlinestatus]

Bitcoins not regaining dominance because it is the dominant coin in the first place so nothing could replace bitcoin would be bitcoin itself it has shown how powerful bitcoin could be even all that stress from the disastrous events like banning and arresting bitcoin has shown  its capability to recover up faster than expected.

Yes, it become very dominant in some days and then again it falls a bit but not that as you think about it. This up and down in it's price is a part of it and it can't survive without it. Its price can't become stable but it will remain variable forever because it is a digital currency and its price depend upon its demand. Yes, its price can fall but a bit not very much and if it falls, then bitcoin is capable to recover it quickly.

[1714115812]

1714115812

[1714115812]

1714115812

[1714115812]

1714115812

[streazight]

Update: bitcoin has been losing dominance, mainly vs bitcoin cash:


A bit over 5% and some people commenting recently seem to not have realized. There are some gains in dominance but from all the rest of small alts together, nothing very significant. What is significant is Bitcoin Cash spike as there are many debates on wether it will become the real Bitcoin or it is just another case of pump and dump.

Bitcoin Cash is just a shady fork by Bitmain that is trying to play central bank and protect its ASIC business. Complete waste of resources. Hopefully the new crypto investors will actually understand what Bitcoin is about and realize that Bitcoin Cash is the opposite of what Bitcoin should be and move away from it.

I feel shady is even an understatement. What most people are forgetting right now is that these dudes have a lot of resources to play with the market and I was surprised to see a lot of people thinking BCH is gaining dominance. They should just watch how the market ends up playing in few days from now.

I really pity those even trying to move in now, because they may end up being the ones to understand later on that the spike is totally different from BCH dominating the market.

[voztata]

For now bitcoin drops little bit high,but not lower than what he had when he starts regaining and i do believe in a couple of weeks bitcoin price will come up again.he drops more than 1k usd for just couple of days and it brings panic to those user that has no big faith on btc.and to those user that needs easy money.so lets just pray for another btc recovery

agree, after falling to about $5K a few days ago makes the weak hand do panic selling as usual. while people who are optimistic about bitcoin see it as an opportunity to buy more. I'm sure btc will not pass this november without new ath. Because when the price slides, the volume are keep rising. It means that more people are buying it, while its cheap.

$5k is not my buy-in price rate, I prefer to buy on rates that are lower than $5k. Wish it will just drop more so I can buy as much more. I am also thinking about buying Bitcoin Cash (BCH), seems to be another good option to buy, apart from Ethereum. I heard the price rate of BCH has been rising seriously recently, but I haven’t had chance to check it out to know whether it’s true or not.

[fianaindriati]

I think bitcoin gets dominance again in the world community, after several times falling and worse by some citizens of the world.
 but also many countries that prohibit the existence of bitcoin. I do not know why it is banned, maybe it's a government rule that must be run

Bitcoin is being banned in some of the countries because they thought that bitcoin is not a real opportunity and they are just thinking that because bitcoin is being used in the black market then bitcoin is already a bad cryptocurrency but they didn't know that if they will accept bitcoin to their country, it will bring more possibilities for sure.

That's right, they forbid bitcoin to circulate, because they do not yet know that bitcoin is beneficial and not detrimental. if it harms it all because of our own actions that manage the bitcoin.

[prtty2gal2]

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'.

We can say that the price of bitcoin really reached a new milestone because it reached over 7K USD and that is really high. Bitcoin became known because of this. A lot of people were shocked because electronic money reached a very high price which is impossible to be bought by a normal person. The price of bitcoin is now less 7K USD but I know it will be higher in the future.

[explosion]

It seems to me bitcoin never lost its dominance and this will last still for a long period of time because digital money is associated with bitcoin

[dancingnancy]

I think that Bitcoin will alway be above all other cryptocurrencies. Bitcoin is first cryptocurrency and that gives it a lot. It broke the ice and showed people what cryptocurrency could be or become. Also if it was not the best, it wouldn't have the highest price. Maybe in time it will lose to some other or new crypto, but for now its first.

The best part about bitcoin is that even after having a small market cap, facing china's ban and constant volatility, it was able to hold and increase value in such a short span. Cryptocurrencies as a whole is developing as well. It didn't have a downfall as such it's just become more popular.

[Kemarit]

I think that Bitcoin will alway be above all other cryptocurrencies. Bitcoin is first cryptocurrency and that gives it a lot. It broke the ice and showed people what cryptocurrency could be or become. Also if it was not the best, it wouldn't have the highest price. Maybe in time it will lose to some other or new crypto, but for now its first.

The best part about bitcoin is that even after having a small market cap, facing china's ban and constant volatility, it was able to hold and increase value in such a short span. Cryptocurrencies as a whole is developing as well. It didn't have a downfall as such it's just become more popular.

Bitcoin is very resilient from such attacks, not even China announcement about bitcoin and the recent well orchestrated attack by the people behind Bitcoin Cash prevents it from going up again. Bitcoin has already captured the hearts of many investors and wouldn't let a single aggressive action against bitcoin overcome all their money in the ecosystem. Just by looking at the current price, bitcoin is becoming more popular. It never lost its dominance, just a some power grab but eventually bitcoin won. Let's see what the next challenge is, but rest assured that bitcoin will took it everything in stride.

[Getcoinsite]

It'll be interesting to see how this is going to play out. In 2013, and making the comparison is silly but what the hell, alts had a rally after BTC. However this time around alts have gone bleedin' insane for years on end while Bitcoin has done nothing at all until now.

Alt valuations are now absolutely huge and they still haven't delivered on a shred of their supposed promise. What the fuck has Dash achieved? It could be major flippening back to BTC that could either be permanent or last until there are more alts that are actually more than empty pumping.

I doubt it will be permanent, but most coins are bound to crash and burn - after all that's what happens in the venture capital scene, where on average 90% of start-ups just outright die. And that's despite very thorough due diligence by venture capitalists.
This means that we should see more altcoins dying than we see venture capital funded start-ups fail.
In that regard we're really seeing the same situation as during the dot com bubble and during penny stocks mania. But even during those times there were success stories, so it's just a matter of being more thorough than the masses in identifying realistic opportunities rather than jumping blindly at "easy money" (which doesn't exist).

your outview is right from what is the issue.actually bitcoin never loss its dominance he may loss some value but still the dominant coin of all,and about those HARD FORK issue maybe for now only few will believe on its capacity to make effect on circulation after those fail fork.

[oegarod]

I think that Bitcoin will alway be above all other cryptocurrencies. Bitcoin is first cryptocurrency and that gives it a lot. It broke the ice and showed people what cryptocurrency could be or become. Also if it was not the best, it wouldn't have the highest price. Maybe in time it will lose to some other or new crypto, but for now its first.

The best part about bitcoin is that even after having a small market cap, facing china's ban and constant volatility, it was able to hold and increase value in such a short span. Cryptocurrencies as a whole is developing as well. It didn't have a downfall as such it's just become more popular.

Those were very small issues compared to the large volume hacks and the negativity spreading. Some form of FUD gets around the network to make it down and support the growth of another token. In my personal thinking bitcoin doesn't seems regaining dominance, because it never gave up its domination on the cryptocurrency network.

[AlphaWolf]

It'll be interesting to see how this is going to play out. In 2013, and making the comparison is silly but what the hell, alts had a rally after BTC. However this time around alts have gone bleedin' insane for years on end while Bitcoin has done nothing at all until now.

Alt valuations are now absolutely huge and they still haven't delivered on a shred of their supposed promise. What the fuck has Dash achieved? It could be major flippening back to BTC that could either be permanent or last until there are more alts that are actually more than empty pumping.

I doubt it will be permanent, but most coins are bound to crash and burn - after all that's what happens in the venture capital scene, where on average 90% of start-ups just outright die. And that's despite very thorough due diligence by venture capitalists.
This means that we should see more altcoins dying than we see venture capital funded start-ups fail.
In that regard we're really seeing the same situation as during the dot com bubble and during penny stocks mania. But even during those times there were success stories, so it's just a matter of being more thorough than the masses in identifying realistic opportunities rather than jumping blindly at "easy money" (which doesn't exist).

your outview is right from what is the issue.actually bitcoin never loss its dominance he may loss some value but still the dominant coin of all,and about those HARD FORK issue maybe for now only few will believe on its capacity to make effect on circulation after those fail fork.

Of course Bitcoin is regaining dominance. Bitcoin always regains dominance. Bitcoin is the honeybadger of money didn't you know that? Look up what a honeybadger is and what it does. It eats everything. That's what BTC does. Any attack that comes it's way while it's trying to grow and build, it just eats it up. Then it adapts to become immune to that attack and so on and so forth.

[mOgliE]

Bitcoin is one amongst many crypto-currencies. The big game is to guess which one will take the lead, how will rates evolve, and so on.

Bitcoin is also THE emblematic crypto-currency. Because it was created long ago, because it managed to survive, because medias have chosen to put it under the spotlights? I don't know!

What is sure is that, this game occurring between crypto-currencies is way too complex to be fully understood by individuals. Bitcoin has gone through ups lately thanks to the fork (and consequently potential "free" btc) but this may not be the only explaining reason.

In short: hard to answer your question!  

[BTCMILLIONAIRE]

Update: bitcoin has been losing dominance, mainly vs bitcoin cash:


A bit over 5% and some people commenting recently seem to not have realized. There are some gains in dominance but from all the rest of small alts together, nothing very significant. What is significant is Bitcoin Cash spike as there are many debates on wether it will become the real Bitcoin or it is just another case of pump and dump.

Bitcoin Cash is just a shady fork by Bitmain that is trying to play central bank and protect its ASIC business. Complete waste of resources. Hopefully the new crypto investors will actually understand what Bitcoin is about and realize that Bitcoin Cash is the opposite of what Bitcoin should be and move away from it.

I feel shady is even an understatement. What most people are forgetting right now is that these dudes have a lot of resources to play with the market and I was surprised to see a lot of people thinking BCH is gaining dominance. They should just watch how the market ends up playing in few days from now.

I really pity those even trying to move in now, because they may end up being the ones to understand later on that the spike is totally different from BCH dominating the market.

They would definitely be going straight to jail if crypto was regulated. Or they'd just bribe themselves out of trouble like JP Morgan and other IBs and CBs do...

[rockyboy]

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?

Of course bitcoin always regain it's dominance. The king of cryptocurrency expect that it comes first before anything else. It means that investors really trust bitcoin.

[Guzztsar]

Well if we compare it to the latest charts of a few years ago we can make a conclusion that the price can really drop a lot right now it if needs to happen.
But we can not compare those charts to ATM charts, because it is insane, right now all the market is manipulated by the whales and all the people who is investing some money on bitcoin, it can only drop if there is a terrorific notice about bitcoin in some country, only if it creates fud over the market.
But it really needs to drop a litttle before the bubble explodes.

The markets have changed drastically, so comparing to the past is probably not a great idea. Either way, rather than "manipulation" we're just seeing normal market movements in a very volatile environment with an overall upwards trend.

I agree with you about the market be volatile, but recents events made it clear that big whales really got a huge impact on the market.
The FUD was spread and the price dropped some thousands of dollars in just a few days.

[BTCMILLIONAIRE]

Well if we compare it to the latest charts of a few years ago we can make a conclusion that the price can really drop a lot right now it if needs to happen.
But we can not compare those charts to ATM charts, because it is insane, right now all the market is manipulated by the whales and all the people who is investing some money on bitcoin, it can only drop if there is a terrorific notice about bitcoin in some country, only if it creates fud over the market.
But it really needs to drop a litttle before the bubble explodes.

The markets have changed drastically, so comparing to the past is probably not a great idea. Either way, rather than "manipulation" we're just seeing normal market movements in a very volatile environment with an overall upwards trend.

I agree with you about the market be volatile, but recents events made it clear that big whales really got a huge impact on the market.
The FUD was spread and the price dropped some thousands of dollars in just a few days.

There was a big impact on the BCash market due to wash trades, but that one is relatively easy to manipulate due to its comparatively small size and lack of usage. Bitcoin is becoming harder and harder to play for crypto whales.

[Teraboy]

For now bitcoin drops little bit high,but not lower than what he had when he starts regaining and i do believe in a couple of weeks bitcoin price will come up again.he drops more than 1k usd for just couple of days and it brings panic to those user that has no big faith on btc.and to those user that needs easy money.so lets just pray for another btc recovery

agree, after falling to about $5K a few days ago makes the weak hand do panic selling as usual. while people who are optimistic about bitcoin see it as an opportunity to buy more. I'm sure btc will not pass this november without new ath. Because when the price slides, the volume are keep rising. It means that more people are buying it, while its cheap.

$5k is not my buy-in price rate, I prefer to buy on rates that are lower than $5k. Wish it will just drop more so I can buy as much more. I am also thinking about buying Bitcoin Cash (BCH), seems to be another good option to buy, apart from Ethereum. I heard the price rate of BCH has been rising seriously recently, but I haven’t had chance to check it out to know whether it’s true or not.

I'm never thinking to buy the bitcoin cash since the only mining rig that can be used to mining the bitcoin cash is only the bitmain rig itself. Just like thworh my money to the jihan wu.
But bitcoin will never go down again below $5k dollar and it seems very difficult right now.

[Guzztsar]

Well if we compare it to the latest charts of a few years ago we can make a conclusion that the price can really drop a lot right now it if needs to happen.
But we can not compare those charts to ATM charts, because it is insane, right now all the market is manipulated by the whales and all the people who is investing some money on bitcoin, it can only drop if there is a terrorific notice about bitcoin in some country, only if it creates fud over the market.
But it really needs to drop a litttle before the bubble explodes.

The markets have changed drastically, so comparing to the past is probably not a great idea. Either way, rather than "manipulation" we're just seeing normal market movements in a very volatile environment with an overall upwards trend.

I agree with you about the market be volatile, but recents events made it clear that big whales really got a huge impact on the market.
The FUD was spread and the price dropped some thousands of dollars in just a few days.

There was a big impact on the BCash market due to wash trades, but that one is relatively easy to manipulate due to its comparatively small size and lack of usage. Bitcoin is becoming harder and harder to play for crypto whales.

That's true, despite the dumps attempts, BTC has a very fast recovery, looks like he's becoming more resilient for such manipulations.

[BTCMILLIONAIRE]

Well if we compare it to the latest charts of a few years ago we can make a conclusion that the price can really drop a lot right now it if needs to happen.
But we can not compare those charts to ATM charts, because it is insane, right now all the market is manipulated by the whales and all the people who is investing some money on bitcoin, it can only drop if there is a terrorific notice about bitcoin in some country, only if it creates fud over the market.
But it really needs to drop a litttle before the bubble explodes.

The markets have changed drastically, so comparing to the past is probably not a great idea. Either way, rather than "manipulation" we're just seeing normal market movements in a very volatile environment with an overall upwards trend.

I agree with you about the market be volatile, but recents events made it clear that big whales really got a huge impact on the market.
The FUD was spread and the price dropped some thousands of dollars in just a few days.

There was a big impact on the BCash market due to wash trades, but that one is relatively easy to manipulate due to its comparatively small size and lack of usage. Bitcoin is becoming harder and harder to play for crypto whales.

That's true, despite the dumps attempts, BTC has a very fast recovery, looks like he's becoming more resilient for such manipulations.

In a few years it will be nearly impossible to manipulate BTC in any significant way. Not too much longer until we crack the trillions after all.

[dalat]

This is due to many big online stores are now accepting bitcoin