[2017-12-19] Bitcoin Dominance Drops Below 50%, Litecoin and Other Altcoins Surg

[tyz]

Bitcoin Dominance Drops Below 50%, Litecoin and Other Altcoins Surge Rapidly

The bitcoin dominance index has fallen below 50 percent for the first time since October, as alternative cryptocurrencies in the market such as Ethereum, Litecoin, and Ripple demonstrated strong performance over the past week.

https://www.ccn.com/bitcoin-dominance-drops-50-litecoin-altcoins-surge-rapidly/

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[hatshepsut93]

Make no mistake, this is a coordinated attack on Bitcoin - just after the difficulty adjustment, when fees have spiked, "someone" is pumping all the alts that claim to be "scalable" in attempt to drive investors away from Bitcoin, while spreading the myth that it is outdated and that Core is not doing anything. This attack includes army of shills that post about fees and that Bitcoin was designed to be peer-to-peer cash with cheap transactions - most of them are Bcash shills, but Iota shills and Ripple shills are also quite active.

[CryptoBry]

Bitcoin Dominance Drops Below 50%, Litecoin and Other Altcoins Surge Rapidly

The bitcoin dominance index has fallen below 50 percent for the first time since October, as alternative cryptocurrencies in the market such as Ethereum, Litecoin, and Ripple demonstrated strong performance over the past week.

https://www.ccn.com/bitcoin-dominance-drops-50-litecoin-altcoins-surge-rapidly/

I am not very much concerned with the rate of dominance as it can go up or go down anytime. Maybe it is also time that we giver these leading altcoins the break they deserve to further grow as many of them have been tanking for months already...having them surge can make many happy. Bitcoin is moving in a very competitive world so this changing dominance on the market is just a natural consequence of some market shifts. Nothing to be worried about as Bitcoin will surely comeback for good weeks from now especially in 2018.

[btcton]

That would certainly explain why there was the sudden $2.5K drop over a single day, albeit it could also be attributed to the previous rise in price being simply a pump and dump by wealthier investors looking for a quick buck. It does serve as a reminder to everyone holding bitcoins that diversification is very much a need, not only among cryptocurrencies, but also among other non-virtual assets such as retirement funds, bonds, and stocks. I personally would not be too worried about Bitcoin dominance dropping; rather, I find it exciting that other coins might have their corresponding role in the cryptocurrency environment. Ethereum, for example, has a clear goal and I would not consider it to compete directly with Bitcoin. They are two currencies trying to do very different things.

[Rahar02]

Ahh, seeing all this pump makes me wondering; why I didn't invest in those coins? . Although those are shitcoins but look at the profit that you may get, very tempting. BCH suddenly get pumped over $3000, didn't realize it before but it's surprising, even BTG rise a bit. Cryptocurrency market in bulls run right now, whether we like it or not, those coins prices could tank and increasing, set a new level of prices. Eth, dash, litecoin are in the game following bitcoin, whenever bitcoin decline, these coins may get pump again.
The reason is obvious;
Others have attributed the success of altcoins to the scalability issues of bitcoin and the lack of Segregated Witness (SegWit) integration by businesses. Leading wallet platforms like Blockchain and Coinbase, along with bitcoin transaction fee prediction platforms have been recommending a transaction fee in the range of $10 to $30, due to the state of the bitcoin mempool, the holding area of unconfirmed transactions

Ridiculous high fee due to mempool seems overloaded, too many unconfirmed transactions while Segwit implementation is not enough to afford current market demand.