Bitcoin dominance dropping hard

[BBart]

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.

For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!

So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.

But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment. 

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[shursight]

This is hardly discussed in here, if you do not find those threads, then it is your fault.

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.For years bitcoin marketcap was around 90% it dropped to 40% in jun 2017 and 60%.But then it dropped to 38% today!

You are not seeing the reality in there, the dominace is dropping, but the whole marketcap is always going up.

When the dominance was over 90% a few years ago, tell me, how much was the marketcap? I bet everything that it was not even five billion dollars.

And now it is 38% but the total marketcap is 600 billion dollars, more than a half of a trillion.

[bigvito19]

The more new coins that comes on the market, the more the money that will spread into those new coins

[Low Sigma]

What surprised me was the number of nodes @BTC versus ETH (for example). Ethereum has 4 times more nodes than Bitcoin.
Near term BTC will struggle given the high transaction fee.

I don't believe that if BTC will plunge massive, then the entire crypto market will go extinct. There is too much money and people who needs cryptos.

[Westingcote]

Basic economics. Bitcoin is known for shooting up and down and once it hits new heights thats when people tend to invest that new found wealth into icos.

[Gabb]

This is just a clear signal that people are realizing the limitations of bitcoin as a currency in real use, and at the moment it is only being used marginally as a store of value. Therefore, people start to explore new alternatives with greater growth potential than bitcoin or at least capable of serving the original purposes of bitcoin as a currrency or means of payment, and that is why we are seeing the revaluation of "old" coins such as Ripple and Litecoin.

[SyGambler]

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.

For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!

So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.

But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment. 

bitcoin dominance is now all time low , but it was really close to that on last June then we saw that bitcoin price went up 5-6X after
it's not something to worry about , actually this time it makes sense due the really high fees that allowed other coins to rise since some started to look for an alternative

what I wasn't expecting that ripple will pass ETH with such huge cap , but we all know that all these money will end up being transferred to bitcoin again 

[kingaltcoins]

Dominance isn't always proportional to market cap directly. It is by no means concrete, as bitcoin's interest has dipped in times of stress before. The question now, however, is what make of such downtrend.

The thing is, at the beginning of every year, the dominance percentage downtrends. Its nothing to worry about.

What surprised me was the number of nodes @BTC versus ETH (for example). Ethereum has 4 times more nodes than Bitcoin.
Near term BTC will struggle given the high transaction fee.

Number of nodes doesn't qualify the reason behind this downtrend. Bitcoin will obviously have lesser nodes than other cryptos since it has the largest blockchain of all time and selective few wants to run full node.

I don't believe that if BTC will plunge massive, then the entire crypto market will go extinct. There is too much money and people who needs cryptos.

Bitcoin is the backbone of all cryptocurrencies. It won't fall ever.

[coinycoiny]

Has the increase in tokens affected btcs dominance?

It would probably be fairer to compare btc dominance just with virtual currencies as the tokens are really meant to be a replacement for shares and would suggest that most are pretty fraudulently manipulating their price/market cap as well.

[littlewizard]

The drop is due to the problem of the high fee of bitcoin in December, and many people panic to either cash out or move to altcoins.
It is really urgent that bitcoin come up with a feasible, usable scaling approach in the next 3-6 months. Otherwise I can see things turn out ugly.

[shibaji]

Few things will push this lower:

1. Too high fees.
2. Too much time for confirmation.
3. Too less supply for demand - it is a mental block, but it matters.

First two are the killers.

[jseverson]

I think it's tied to the price loss. Bitcoin is stalling while the other cryptos are growing, so it makes sense for people to park their money in alts only to buy into Bitcoin again once it starts showing signs of a strong bull run. Since the market cap stays the same, it should be quite safe to assume that people are simply going where the money is at, and it's not on Bitcoin at the moment.

I do believe it's going to recover, but it seems like an uphill battle at the moment. Fees are still high and there's still quite a large backlog of transactions. I hope the Lightning Network comes soon, and as advertised.

[rjefferson]

This is hardly discussed in here, if you do not find those threads, then it is your fault.

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.For years bitcoin marketcap was around 90% it dropped to 40% in jun 2017 and 60%.But then it dropped to 38% today!

You are not seeing the reality in there, the dominace is dropping, but the whole marketcap is always going up.

When the dominance was over 90% a few years ago, tell me, how much was the marketcap? I bet everything that it was not even five billion dollars.

And now it is 38% but the total marketcap is 600 billion dollars, more than a half of a trillion.

This exactly. Sure in the short term it has dropped, but look at the bigger picture. I remember when bitcoin was $30 lol. we have quite a ways to go.

[wilhb81]

The reason is quite simple. When there are more and more alt coins come into the market - miners and investors have more choices to pick. In this case, the dominance of Bitcoin is proportionally going down for sure. Despite it, the overall market cap for Bitcoin still in the positive direction, which is a healthy sign...

[pinkflower]

This is hardly discussed in here, if you do not find those threads, then it is your fault.

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.For years bitcoin marketcap was around 90% it dropped to 40% in jun 2017 and 60%.But then it dropped to 38% today!

You are not seeing the reality in there, the dominace is dropping, but the whole marketcap is always going up.

When the dominance was over 90% a few years ago, tell me, how much was the marketcap? I bet everything that it was not even five billion dollars.

And now it is 38% but the total marketcap is 600 billion dollars, more than a half of a trillion.

Thats also a very good sign of you are an altcoin investor. No coin is losing value and yet they are gaining momentum against BTC. If you want to make some meaningful amount, now is the time to look for promising platforms to invest in. For the first half of 2018, I can see that 100x returns will happen a lot more than usual.

[Yamifoud]

It's totally a big loss those who are buying in high price, unless they never sell it today.
Even though bitcoin experiencing a huge dip, but still bitcoin dominate the numbers of investors. It could still have a chances that it will regains it dominance in the market.

[wantjokull]

Bitcoin dominance is dropping because many new coins are coming in the market. The more they come the more money drives into them from our bitcoin. This is redistribution of whole market and thus the dominance is decreased accordingly. But the one thing is clear here, market capitalisation for bitcoin stays as it is and there is no going down for that. Because people always prefer the bitcoin as primary currency of investment and thus it will not sink ever and the value will keep rising though we see decreased dominance.

[stompix]

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.

Because only noobs talk about market cap and dominance.
For the rest, those numbers are meaningless.

For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.

38% out of 500 billions is more than 90% out of 50 billions.
Seems like math is not your strong point.

But when bitcoin will crash hard

Not going to happen...

But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.  Lips sealed

Yeah, nobody cares.
Because the rest are altcoins. We've seen thousands of them dying.

[mxyzptlkof6th]

I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.

For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!

So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.

But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment. 

Maybe that does not apply in the case of cryptocurrencies. If bitcoin falls down, there will be a big chance that another type of coin will boom and become the next star. Hopefully, I still rely on the limitations of bitcoin so don't lose the hype for it.

[Zertoshi]

But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment. 

Perhaps another coin will become the flagship soon?