BTC Dominance Percentage getting lower and lower : < 45%

[bitcoin.cash]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

[lighpulsar07]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Well bitcoin transaction fees are very high which some of us cannot bear with it imagine that you are just send $10 dollars worth of bitcoin you have to pay $20 in fees just to confirm very fast and currently the minimal transaction fee is 900 satoshi per byte so, in average sized transactions you have to 0.002 ($33 in today's rate) in fees just to confirm your transaction and because of that some investors and holders were move to bitcoin cash and other cryptocurrencies for lower transaction fees and fast confirmation so, that's why bitcoin dominance were getting lower and lower.

[bitcoin.cash]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Well bitcoin transaction fees are very high which some of us cannot bear with it imagine that you are just send $10 dollars worth of bitcoin you have to pay double in fees just to confirm very fast and because of that some investors and holders were move to bitcoin cash and other cryptocurrencies for lower transaction fees and fast confirmation

I believe lighting network will do those?
I just curious why happen recently after BTC reached almost 2K ?

[AwpDragonPoor]

Well Bitcoin's many issues are catching up with it
High Trans Fees
Relatively Slow Times
Old, outdated Technology that is replaced with newer coins
People are moving to other coins, and the creation of so many coins is making it hard for one coin to keep up with everything else.

[soham]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Bitcoin dominance is getting lower only because of the slower bitcoin network and higher transaction fees. Bitcoin was initially started as a low cost peer to peer transaction facilitator. However, with the confirmation time more than an hour and huge transaction fees of 998 sat/byte, makes it way more costlier than any other currency. That is evident why people are moving to other cryptos like ETH or Ripple or BCH.

I have also tried to make a transfer of around $370 USD few days back and the blockchain wallet was asking for $60 fees for the transaction. I aborted the action and now waiting for the network to come back to normal. Till the time, network doesn't come back to shape, it is hard for bitcoin to gain ground again.

[Straux]

People are now realising that Bitcoin is soon becoming the lesser cryptocurrency with its tech lagging behind. Increasing transaction fees and the network becoming slower are two big issues that are making people move to other coins such as ETH or BCH.

Not only this, but the media has also brought more attention to these other coins, as well as the idea that Bitcoin is unstable and ready to burst - where you should invest in so and so coin instead. Overall, there are a heap of factors that could cause BTC to be less dominant nowadays - and honestly, more competition, the better.

[webtricks]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Well bitcoin transaction fees are very high which some of us cannot bear with it imagine that you are just send $10 dollars worth of bitcoin you have to pay $20 in fees just to confirm very fast and currently the minimal transaction fee is 900 satoshi per byte so, in average sized transactions you have to 0.002 ($33 in today's rate) in fees just to confirm your transaction and because of that some investors and holders were move to bitcoin cash and other cryptocurrencies for lower transaction fees and fast confirmation so, that's why bitcoin dominance were getting lower and lower.

Well before drawing a conclusion you should think little more why Bitcoin fees increased that much! With little inspection on current crypto market, I have come to following conclusion:


 
The above chart has two attribute, one is Bitcoin fees in USD and other one is BCH price in USD. You can clearly see Bitcoin fees is directly proportional to BCH price. When BCH price rises, BTC fees rises. Now why is it like that? The answer is simple, BCH market is nothing but an illusionary attempt to overtake BTC in race of being real Bitcoin and this movement is backed by most of the miners (mostly antminer ones) because difficulty of BTC mining made it less profitable whereas BCH mining is still cheap. So when BCH price rises, they just move to BCH and as a result BTC fees rises (Demand/Supply) rule.
But every time it proves temporary and BTC recovers sooner or later because of huge faith by investors in it. So fees will decrease soon and BTC dominance will increase again.

PS: everyone above blaming Increased Transaction fees and slower transaction to be the reason, please have a look on my answer.

[Voice-Of-Reason]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

It started before that, over a week before (or more), when funds started moving to other cryptos looking for that quick pump/profit

[bitcoin.cash]

I heard BTC was pegged to BCH? Is it confirmed?

If it is confirmed .. then it is a disaster

[hatshepsut93]

~snip~
 
The above chart has two attribute, one is Bitcoin fees in USD and other one is BCH price in USD. You can clearly see Bitcoin fees is directly proportional to BCH price. When BCH price rises, BTC fees rises. Now why is it like that? The answer is simple, BCH market is nothing but an illusionary attempt to overtake BTC in race of being real Bitcoin and this movement is backed by most of the miners (mostly antminer ones) because difficulty of BTC mining made it less profitable whereas BCH mining is still cheap. So when BCH price rises, they just move to BCH and as a result BTC fees rises (Demand/Supply) rule.
But every time it proves temporary and BTC recovers sooner or later because of huge faith by investors in it. So fees will decrease soon and BTC dominance will increase again.

PS: everyone above blaming Increased Transaction fees and slower transaction to be the reason, please have a look on my answer.

I have even more interesting chart:




As you can see, sometimes BTC fees spike, but Bitcoin doesn't crash and Bcash is not getting pumped, but on some other date fees are spiking to very high levels while Bcash is pumped and BTC is dumped. So, what's going on? Well, I'm pretty sure that those unusual fees are the result of spam, not just some 1 sat/byte transactions, but really expensive ones, like 100 and 200 sat/byte - this is part of the plan to convince people that BCH is the real Bitcoin because it has cheaper fees. But so far it fails miserable - even with all manipulation and spam, Bcash can't sustain its price for long, because educated investors are not buying that crap.

[1bitcoinsnet]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

The world of crypto is so beyond BTC it's funny how people still think BTC is all there is.

The trigger was coinbase adopting bch

1 week ago BTC had 10 to 1 value ratio
BTC was 20k bch 2k
Coinbase opens up bch to public
Bang seismic shift the ratio value is now 5 to 1

Now the guy that called this they call THE PROPHET couple days ago I posted here link to his warning BTC then 19k was going to 10k and BCH was going to 10k

They would become equal in value due to Coinbase trading bch to public

He said 2 weeks to 2 months

Well in 2 days u saw BTC drop to 11k

It's rebounded but the 10 to 1 value ratio is now 5 to 1

So exactly what THE PROPHET warned has started

10 to 1 value in 2 days is now 5 to 1

How many more days before it's 1 to 1 ratio as he warned

THE PROPHET is Dr. Adoni

www.SolAdoni.com

[1bitcoinsnet]

~snip~
 
The above chart has two attribute, one is Bitcoin fees in USD and other one is BCH price in USD. You can clearly see Bitcoin fees is directly proportional to BCH price. When BCH price rises, BTC fees rises. Now why is it like that? The answer is simple, BCH market is nothing but an illusionary attempt to overtake BTC in race of being real Bitcoin and this movement is backed by most of the miners (mostly antminer ones) because difficulty of BTC mining made it less profitable whereas BCH mining is still cheap. So when BCH price rises, they just move to BCH and as a result BTC fees rises (Demand/Supply) rule.
But every time it proves temporary and BTC recovers sooner or later because of huge faith by investors in it. So fees will decrease soon and BTC dominance will increase again.

PS: everyone above blaming Increased Transaction fees and slower transaction to be the reason, please have a look on my answer.

I have even more interesting chart:




As you can see, sometimes BTC fees spike, but Bitcoin doesn't crash and Bcash is not getting pumped, but on some other date fees are spiking to very high levels while Bcash is pumped and BTC is dumped. So, what's going on? Well, I'm pretty sure that those unusual fees are the result of spam, not just some 1 sat/byte transactions, but really expensive ones, like 100 and 200 sat/byte - this is part of the plan to convince people that BCH is the real Bitcoin because it has cheaper fees. But so far it fails miserable - even with all manipulation and spam, Bcash can't sustain its price for long, because educated investors are not buying that crap.

It comes down to Coinbase allowing public to vote
BCH or btc

Now we know public trading of BCH has leveled the playing field

1 week ago BTC to bch value was 10 to 1

Coinbase opens to bch

Now it's 5 to 1

It took couple of days to half the value ratio difference

Throw out the charts the public now goes to Coinbase and sees two Bitcoin

One is cheap and fast the other slow n costly

So BTC fell and BCH rose

20k BTC hit 11k now it's 15k

2k bch is now 3k

So pre coinbase 10 to 1 value ratio

Now it's 5 to 1

Before btc crashed to 11k you had 1 guru saying BTC was going to 10k and BCH would be 1 to 1 value or 10k

Due to Coinbase and how the public will choose bch over BTC for speed and cheap txs

He said that 2 days before the crash

He said the 1 to 1 value ratio adjustment will take 2 weeks to 2 months

There's threads here discussing his warning to investors

THE PROPHET is
.
www.SolAdoni.com

[xuan87]

Yes I notice that the first problem lies in Bitcoin itself with low transactions speed and high fee, and bch seem to be more friendly with the price, but for me the dominance is decreasing because alt coin makes more profitable, now is the trend for alt coin, you can see so many green marks in alt coins, the whale is pumping the alt now, when they finished they will comeback again to Bitcoin

[dothebeats]

Ahh, the same post about bitcoin losing its dominance on the market. Just so you know, bitcoin's lead to bitcoin cash was also 45% more or less last November, and it's just normal occurrence considering that traders wants to flip and flop their money around something that is profitable at a given time. Technically, BCH is somehow above bitcoin in terms of transaction speed and fees, but in time when BCH also goes to the $10k level, watch the fees go up and end up with the same fate as bitcoin is today.

[khaled0111]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Well bitcoin transaction fees are very high which some of us cannot bear with it imagine that you are just send $10 dollars worth of bitcoin you have to pay $20 in fees just to confirm very fast and currently the minimal transaction fee is 900 satoshi per byte so, in average sized transactions you have to 0.002 ($33 in today's rate) in fees just to confirm your transaction and because of that some investors and holders were move to bitcoin cash and other cryptocurrencies for lower transaction fees and fast confirmation so, that's why bitcoin dominance were getting lower and lower.

Well before drawing a conclusion you should think little more why Bitcoin fees increased that much! With little inspection on current crypto market, I have come to following conclusion:


 
The above chart has two attribute, one is Bitcoin fees in USD and other one is BCH price in USD. You can clearly see Bitcoin fees is directly proportional to BCH price. When BCH price rises, BTC fees rises. Now why is it like that? The answer is simple, BCH market is nothing but an illusionary attempt to overtake BTC in race of being real Bitcoin and this movement is backed by most of the miners (mostly antminer ones) because difficulty of BTC mining made it less profitable whereas BCH mining is still cheap. So when BCH price rises, they just move to BCH and as a result BTC fees rises (Demand/Supply) rule.
But every time it proves temporary and BTC recovers sooner or later because of huge faith by investors in it. So fees will decrease soon and BTC dominance will increase again.

PS: everyone above blaming Increased Transaction fees and slower transaction to be the reason, please have a look on my answer.

You are right, but what will happen if all miners move to support BCH (which will never happen)?
Any cryptcurrency expert can easily figure out that BCH is completely affected by BTC price which means that it has no value in the absence of Bitcoin.
Miners are just trying to get as much profit as they can regardless the coin they mine (they support).

[1bitcoinsnet]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Well bitcoin transaction fees are very high which some of us cannot bear with it imagine that you are just send $10 dollars worth of bitcoin you have to pay $20 in fees just to confirm very fast and currently the minimal transaction fee is 900 satoshi per byte so, in average sized transactions you have to 0.002 ($33 in today's rate) in fees just to confirm your transaction and because of that some investors and holders were move to bitcoin cash and other cryptocurrencies for lower transaction fees and fast confirmation so, that's why bitcoin dominance were getting lower and lower.

Well before drawing a conclusion you should think little more why Bitcoin fees increased that much! With little inspection on current crypto market, I have come to following conclusion:


 
The above chart has two attribute, one is Bitcoin fees in USD and other one is BCH price in USD. You can clearly see Bitcoin fees is directly proportional to BCH price. When BCH price rises, BTC fees rises. Now why is it like that? The answer is simple, BCH market is nothing but an illusionary attempt to overtake BTC in race of being real Bitcoin and this movement is backed by most of the miners (mostly antminer ones) because difficulty of BTC mining made it less profitable whereas BCH mining is still cheap. So when BCH price rises, they just move to BCH and as a result BTC fees rises (Demand/Supply) rule.
But every time it proves temporary and BTC recovers sooner or later because of huge faith by investors in it. So fees will decrease soon and BTC dominance will increase again.

PS: everyone above blaming Increased Transaction fees and slower transaction to be the reason, please have a look on my answer.

You are right, but what will happen if all miners move to support BCH (which will never happen)?
Any cryptcurrency expert can easily figure out that BCH is completely affected by BTC price which means that it has no value in the absence of Bitcoin.
Miners are just trying to get as much profit as they can regardless the coin they mine (they support).

Crypto Poker is what is happening now

Coinbase putting a coin on it legitimizes the coin

Bch is faster n cheaper to use

Pre coinbase it had 5% value to BTC

Today it's 22% Value

Dr. Adoni called the drop Friday

He says BCH will be traded in 2 weeks to 2 months equal in value to BTC

5% few days ago
22% value ratio today

We're seeing live the value adjustment he predicted

It has nothing to do with miners

It has to do with millions of new users a month choosing bch over but

It's that simple

We are in a mass adoption period for crypto

Bitcoin is the winner

But Dr. Adoni says Bitcoin will now be viewed by the public as BTC and BCH equal in value

It was 5% value ratio days ago

It's now 22%

So it could easily be 1 to 1 as he said if this trend continues

[GreenBits]

I noticed this since coinbase started supporting BCH

https://coinmarketcap.com/charts/#dominance-percentage

Do you have any logical explanation here? technically and fundamentally ...

thanks

Very easy to explain. The money that outflows from BTC, when the price goes down, has to go somewhere. thats usually the alt markets, most people are not will to go through the costs and hassle of converting to fiat every time. So during this downtrend, the market share that is leaving btc is essentially causing this. this isnt a bad thing, btc will not survive by itself. but this is temporary for the short term. btc is still the most media friendly coin, and is thus the most promoted. this will change soon, when corps that have icos realize that btc spends zero dollars on marketing it would be really easy to make a larger splash on the public with a different coin, if only someone tried.