Bitcoin regaining dominance.

[wuvdoll]

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

[I MG]http://i68.tinypic.com/2qi4tfs.jpg[/img]

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.

Watch very soon when bitcoin cash gets dumped badly and then you will know which is in dominance stage or not. I am expecting it very much this week anyway when traders start pulling back into BTC once the whales start taking their profit from BCH. However, it has been a long run anyway for BCH and a very good profit for those who were lucky and wise enough to stash some.

Bitcoin has been performing for the past few months and years since it was created and launch in the public. It's dominance is again boosting from the other alternative coins because bitcoin has been credible to the masses more than ever. Also the mass is accepting bitcoin in different countries for their transactions like in Japan. Though bitcoin was banned to other countries, this crypto currency is fighting well because of the users who continuously believe in it.

It is obvious bitcoin has a lot of support than we can imagine which has made it to gain such credibility over the years and being the first on the list right from the beginning, it always will. The dominance will keep increasing as so many other countries and people all over the world keep adopting it massively which is very much expected in coming years which would keep strengthening the currency more than we can imagine.

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[Chooroz]

Well bitcoin are always reagaining dominance among the rest, cryptocurrency, ever since before bitcoin is the best cryptocurrency and in many years that bitcoin is running no one cryptocurrency who beat the bitcoin, and as of bitcoin is more dominance among the other cryptocurrency because the price of bitcoin is increasing very quick.

[Razick]

I am flabbergasted at this price rise. When it was at $1,000 I did some calculations and predicted it would likely top out between $7,000 and $8,000. This is uncharted territory in a way. BTC has rarely went up more than 9x as we are seeing now, and especially with the substantial increase in market cap which I did not expect would happen so fast.

[meanwords]

To be honest, Bitcoin is already dominant from the start. Bitcoin has been around some time now and no one can beat its over all community and the supporters of it. Well, there are some altcoin that are good like ethereum, litecoin, and DeepOnion. But Bitcoin will be number one.

[Punisherx100]

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?

Yes, It is good for our fellow users, hoping that it will be continuous. I am just glad that a lot of people are becoming interested and believing with the power of Bitcoin and to what it can do. Bitcoin community are spreading to the entire world and also to the media; but I am hoping that it will not be legalize.

[OrangeSeller]

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

Yes, There are so many people which are earning bitcoin just because they are able to use it in different ways. Bitcoin is the one which is highly accepted in online shopping and now many international airlines are accepting bitcoin as mode of payments.

People are using bitcoin to clear their payments and different bills. Moreover bitcoin is the one which is increasing day by day increasing in value.

[Drixy]

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?

Yes, It is good for our fellow users, hoping that it will be continuous. I am just glad that a lot of people are becoming interested and believing with the power of Bitcoin and to what it can do. Bitcoin community are spreading to the entire world and also to the media; but I am hoping that it will not be legalize.

Well seeing some encouragemants through the years of bitcoin and it shows an unbelievable promises out of it. I am also hoping the continous growth of users all over the globe to put their trust unto bitcoin and they will not regret it.

[Sled]

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?

Yes, It is good for our fellow users, hoping that it will be continuous. I am just glad that a lot of people are becoming interested and believing with the power of Bitcoin and to what it can do. Bitcoin community are spreading to the entire world and also to the media; but I am hoping that it will not be legalize.

Well seeing some encouragemants through the years of bitcoin and it shows an unbelievable promises out of it. I am also hoping the continous growth of users all over the globe to put their trust unto bitcoin and they will not regret it.

Indeed, putting money in bitcoin and investing what you got and the money that you can afford to lose is such a huge move for you to have a great type of investment because bitcoin is now dominant in the market and you will not regret for getting involve in bitcoin because the price of bitcoin might go up to $40,000 easily.

[Don Pedro Dinero]

This needs to be updated:



Bitcoin is regaining dominance but there has been a huge rise in the past 24 hours and I personally think it has something to do with lightning network test carried out yesterday. Price has been rising recently but dominance wasn’t so much. As you can see something happened yesterday that pushed bitcoin dominance (and price) up.

[ss890]

Bitcoin dominance is more than 60% now and that is really really huge guys. 

Never thought that bitcoin will get its status back after so much long time. I mean there was time when no coin was produced other than BTC and hence the BTC were almost 100% dominance, which was obvious. But what about now, I mean that’s really super that being hundreds of coins out there the bitcoin dominance is more than 60% and this proves that it’s powerful entity ever. Long live the bitcoin.

[Jembut Ireng]

Happy with this, what many people fear is that the number of countries that bitcoin banned do not have any impact, bitcoin performance continues to increase so as to bring good hope for the future of us all.

[BTCMILLIONAIRE]

Happy with this, what many people fear is that the number of countries that bitcoin banned do not have any impact, bitcoin performance continues to increase so as to bring good hope for the future of us all.

I don't think any places have banned Bitcoin. Not that a government has the power to do so in the first place.

[coinfinger]

To be honest, Bitcoin is already dominant from the start. Bitcoin has been around some time now and no one can beat its over all community and the supporters of it. Well, there are some altcoin that are good like ethereum, litecoin, and DeepOnion. But Bitcoin will be number one.

The dominance of any currency depend upon it's usage any demand among the people and bitcoin is popular from the start due to its benefits and properties. Bitcoin was the best currency from the start and that's why people prefer to use in rather than any other currency. If any other currency become like bitcoin and gain popularity then one day it can also achieve the position of bitcoin but in the present time it seems to be impossible.

[777asianinvasian]

Perhaps because most new people getting into bitcoin only get bitcoin at first prior and then once they learn about alts they get alts then. I think there have been a lot of newcomers lately who only got bitcoin and as a result it makes sense that the dominance has increased. Once these people get a taste of profit they may want to dabble in the more riskier but more reward filled alts which I think will happen next spring.

[n691309]

Happy with this, what many people fear is that the number of countries that bitcoin banned do not have any impact, bitcoin performance continues to increase so as to bring good hope for the future of us all.

I don't think any places have banned Bitcoin. Not that a government has the power to do so in the first place.

Yes it has happened. China has banned bitcoin back in September and October. This bitcoin has been banned all over the world. Only few countries are there who are allowing bitcoin and making it legal in their area while others have banned this from a long time and still they don’t have any intension to remove this ban. Like my country is a lively example of it. Bitcoin is banned here.

[BTCMILLIONAIRE]

Happy with this, what many people fear is that the number of countries that bitcoin banned do not have any impact, bitcoin performance continues to increase so as to bring good hope for the future of us all.

I don't think any places have banned Bitcoin. Not that a government has the power to do so in the first place.

Yes it has happened. China has banned bitcoin back in September and October. This bitcoin has been banned all over the world. Only few countries are there who are allowing bitcoin and making it legal in their area while others have banned this from a long time and still they don’t have any intension to remove this ban. Like my country is a lively example of it. Bitcoin is banned here.

Only a few countries are allowing Bitcoin? That's news to me. Most western countries and some Asian countries are very much pro-Bitcoin.

[0t3p0t]

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 is a natural occurrence in the cryptocurrency world once it goes down of course we are going to expect a sudden bounce back depending on some factors affecting the downfall or skyrocket of any coin most especially Bitcoin. Since Bitcoins adoption is increasing whether we like it or not it will soar high and form a new all time high from time to time. 2017 is the best year of Bitcoin for me because it goes like more or less twenty times higher from early 2017 until the end of the said year.

[jaysabi]

The continued drop indicates that money is flowing into alts faster than Bitcoin. One way to look at this is that there are over 1000 other alts, and for Bitcoin to be holding this level of dominance is fairly impressive. The other way to look at it is that Bitcoin is not providing the solutions or usability (read: scalability) that the market desires, and people are voting with their dollars for more worthy replacements. That's what I'd be worried about as a someone who believes that the current BTC price is sustainable. I haven't seen any good arguments for that in light of the overly congested network and unjustifiable transactions fees. There are cheaper, faster, and more scalable alts on the market right now, making a flippening all the more likely as Bitcoin continues to fail under network stress and becomes less competitive day by day to more nimble alternatives.

[Don Pedro Dinero]

The continued drop indicates that money is flowing into alts faster than Bitcoin. One way to look at this is that there are over 1000 other alts, and for Bitcoin to be holding this level of dominance is fairly impressive. The other way to look at it is that Bitcoin is not providing the solutions or usability (read: scalability) that the market desires, and people are voting with their dollars for more worthy replacements. That's what I'd be worried about as a someone who believes that the current BTC price is sustainable. I haven't seen any good arguments for that in light of the overly congested network and unjustifiable transactions fees. There are cheaper, faster, and more scalable alts on the market right now, making a flippening all the more likely as Bitcoin continues to fail under network stress and becomes less competitive day by day to more nimble alternatives.

Yes, fees and speed of transactions are a huge problem nowadays and this is something Lightning Network promises to solve but it will still take at least 6 months to be implemented, at the very least, probably longer, whereas nowadays other alts solve those problems.

Bitcoin has been losing dominance, but it’s been different from what happened earlier in the year, where it lost dominance vs Ethereum. Ethereum doesn’t seem so much of a threat now. Bitcoin Cash and Ripple have taken most of the dominance recently away from bitcoin and also a big bunch of alts al together, so it seems to me your diagnose is right.

[FeArZ]

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!  

It's difficult to accept, however it's actual, they confine bitcoin to hover, since they don't yet understand that bitcoin is profitable and not negative. in case it harms everything because of our own conduct that arrangement with the bitcoin.