Bitcoin Market Dominance going back up to 80%? Alts current Status?

[very_452001]

Few months ago mid June Bitcoin dominance was at 37% about to lose number 1 pole position I remember to Ether, crashed from 80% to 37% 

Now you guys think it btc will go back up to 80% dominance? If so then I say don't buy Alts yet.

[bbc.reporter]

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

[ROT13]

There are alot of people with alot of money in crypto who now stand to gain enormous profits from even a 20% retrace on altcoins, let alone something approaching all time highs. You're out of your mind if you don't think they will play alts off against bitcoin over and over while people are still dumb enough to panic they way they have been.

[nhote]

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

spot on. which also means that even once the forks are over, alts may take a while before picking up again.

[very_452001]

Yeah but what if the forks are not over meaning more forks throughout the life of bitcoin meaning progress interruptions for Alts?

[Delicat]

Alts current status? dying or you can said it is corrected to the previous crazy high price. but next year should be the time for Alts to show their products and fulfilling meaningful roadmap that will create changes.

[Nathan047]

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

I never said that was the only reason why Bitcoin’s price rose, but it was defiantly one of the major reasons why it did rise in the past few weeks before the BCG fork happened.

[StarofBTC]

Few months ago mid June Bitcoin dominance was at 37% about to lose number 1 pole position I remember to Ether, crashed from 80% to 37% 

Now you guys think it btc will go back up to 80% dominance? If so then I say don't buy Alts yet.

Honestly, this is just a wrong time to be holding alts or buying alts.
BTC has shown some pretty striking movement which a lot of alts will most definitely keep bleeding for a while. If BTC goes back to the dominance, then it is just best to stay out of alts.

Lots of investors are stepping in and the wall street guys and more are also about to step in, so it is just a good way to say bye to alts for now, or every chance of a pump you get, sell if you are still holding.

[wuvdoll]

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

You are very right. If we really want to face it, most people already dumped their alts for btc before the first fork, so most alts did not really grow back any which way and this totally seem more like fresh and new investors coming in and which I totally believe will keep moving on like this till December.

Hence, it is just best to keep watching as the crypto world starts getting even more interesting in upcoming years.