BTC dominance halved

[mrproblem]

Dominance of bitcoin is now a traditional thing and the hardest one in the world is removing or destroying traditions.
So it is possible but a little bit hard

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[richardsNY]

Good to see that at least some people in this thread understand how insignificant Bitcoin's "decreasing" dominance is. It's pretty annoying how noobs keep thinking that a market cap is the only thing that matters, while in reality it isn't. I have seen a $1000 billion market cap shitcoin already last year, and that was before Bitcoin's bull run started -- does that mean Bitcoin has been demolished by that shitcoin? Noobs speak please.... Because if we have to believe the general faulty logic of the people here, then it basically means that Bitcoin has been overtaken, surpassed, rekt, etc.

[Kavallo]

I am puzzled too by the meaning of BTC dominance to be so low. In fact it is an all time low, so it is difficult to find comparisons to help understanding. It could both mean that it is now time to sell alts and go back to Bitcoins, and the opposite...

[Mahanton]

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Not possible mate. Even if the dominance of BTC had decreased, you can still see clearly that the price movement of all the alts is too dependent on BTC.

How can be so sure? Not all altcoins prices are correlated or dependent on bitcoin since some of them do have different market which means they can really stand on their own. If we do try to look on here https://coinmarketcap.com/charts/#dominance-percentage btc dominance decreased so much specially it dropped almost 30% on a short span of time but well seeing on the community that supports bitcoin we can assume it will eventually come up soon.

[Bolt Brownie]

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

I won't say it can't happen because I can't really predict the future, but I really doubt it will ever happen. I can't really explain why BTC dominance drop so significantly. Maybe because more coins got listed in exchanges, and maybe because they got paired with tether for example, so it got easier to pump them. I won't deny bitcoin has it's problems, but do you see any use for the other coins right now?

Ripple got heavily pumped and it hurt BTC dominance a bit. A lot of cheap coins got pumped as well, maybe it was the Mcafee effect, since he kept saying that it was easier for a cheap coin to go from 50cent to $1, than for an expensive coin to go from $15k to $30k (don't remember the exact values). The truth is that you start seeing lots of cheap coins to show huge gains.

I still don't think any of those coins will surpass BTC, because of it's usability. BTC will have real use if the LN works, and as soon as that happens, a lot of coins will probably die and BTC will regain it's dominance.

[Tenderino]

I am confident that ethereum will catch up with bitcoin in regard to the market cap and probably 2018. The too high processing fees for bitcoin was a shot in the knee. The competition does not sleep and if you offer a better coin then you have of course the chance to catch up, especially if  the market leader demands to high fees. I also expect that bitcoin's dominance will further decrease and go under 20%.

[BitHodler]

a lot of coins will probably die and BTC will regain it's dominance.

I am on the same side of the road on this. I strongly believe that all the redundant altcoins will dry out badly, all the way till where they trade for pennies and are subject to pumps by wannabe 'whale' pump groups.

There are just a few altcoins actually doing something useful that Bitcoin doesn't, and likely never will, which is all fine since it's nice to see a well progressing crypto ecosystem as a whole.

If we look at the altcoin market in terms of the general valuation per coin, then it's clear to me that the majority of the coins are actual bubbles. I don't use this term very often, but I'm gladly doing it with altcoins as main subject.

[Fennishlassy@gmail.com]

Bitcoin is now 33% and Ethereum is 20%.  The flippening will be upon us soon!



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@charteroakpublic
- A Telegram group that hands out leaks from Palm Beach confidential and more.  Join us!

[Tactical Genius]

To me the dominance of bitcoin reducing gradually is a sign that people are noticing better options when investing in cryptocurrencies.People hear more about bitcoins but when they start investing they realize there are way better options than bitcoin and i believe with time the btc dominance will eventually be no more.

[OriginTrain]

I think once BTC finally becomes 2nd place on the market cap, this will be a great thing since it will no longer represent the trend of cryptocurrency like it currently does. Individual projects should go up and down in value based upon their own merits, and not the merit of BTC. Sooner people stop associating BTC with crypto the better.

[AliCris]

Known cases when coinmarketcap deliberately distorted the market figures. So I don't have much to rely on their performance. Bitcoin every year it happens, rollback to the previous positions. But after some time he returns. The same thing will happen this time.

[semarmesem195]

To me the dominance of bitcoin reducing gradually is a sign that people are noticing better options when investing in cryptocurrencies.People hear more about bitcoins but when they start investing they realize there are way better options than bitcoin and i believe with time the btc dominance will eventually be no more.

I don't think that way. It's true that overall people are looking for new coins for better and more profitable investments, but i'm not sure if bitcoin dominance will disappear (nothing). Seeing that bitcoin still occupies No. 1 in the crypto sequence is still a proof that bitcoin still dominates. Why do you just think bitcoin dominance will cease to exist? Realistically altcoin also much decline, look at https://coinmarketcap.com although there are some altcoins that rise, whether altcoins that rise it will immediately dominate? The answer is "No".

[andhovesyan]

But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

No, it simply means one thing.
You should stop looking at coinmarketcap.

That site is one of the reasons why of all noobs wanna be whale traders are going to get fleeced.

What is this marketcap?
A number that is made out of thin air by companies or gangs :
-"printing" coins out of thin air and claiming they are worth 1% but refusing audits? (thether)
- a centralized coin where they can print 100 millions sell 1 for 5 and here you go....(ripple)
- a ponzi like bitconnect?
- a coin like segwit2x? (yeah there is one!!)

Those shiny numbers mean nothing.
It's not like marketshare in the auto industry where Ford can't make 1 million cars out of the blue and then sell them to itself.

Unfortunately there is no number by which you can claim dominance, as the ones that might be reliable in other markets are easily faked here.
- number of transactions? - easily faked when you pay 1 doge fee
- volume of coins moved around - easily to fake just moving coins between wallets (again with 1 doge fee)
- number of active addresses (easily faked) , 1 tx with 1000 outputs
-number of addresses with a balance > same as above

Probably the only indicator for market dominance would be shops accepting that coin...
Bitcoin Atms  (2127), shitcoin one??

Of course, you are right saying that market cap's utility is overvalued, the best example is bitconnect when market cap decreased 10 times, while trading volume was 10 times lower and I'm also agree that we shouldn't take into account centralized currencies.
But I don't think you will argue, that coins like Ehereum, Monero, Litecoin, Dash, IOTA has a real value, they are becoming more popular every day and the difference with Bitcoin started to decline. And, please, correct me if I'm wrong, but I think ETH is more stable during current dump than BTC.

[Jating]

Bitcoin is now 33% and Ethereum is 20%.  The flippening will be upon us soon!



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@charteroakpublic
- A Telegram group that hands out leaks from Palm Beach confidential and more.  Join us!

Are you serious? You are just trolling. Ripple was said to be the next top coins but what happened? They said the same about Ethereum June 2017, how did it go?

Known cases when coinmarketcap deliberately distorted the market figures. So I don't have much to rely on their performance. Bitcoin every year it happens, rollback to the previous positions. But after some time he returns. The same thing will happen this time.

Wasn't aware of such shady involvement of CMC deliberately distorted figures. Although I have seen them promoting scammy ICO's on their website.

I am puzzled too by the meaning of BTC dominance to be so low. In fact it is an all time low, so it is difficult to find comparisons to help understanding. It could both mean that it is now time to sell alts and go back to Bitcoins, and the opposite...

For some they really blown it out about this Bitcoin dominance. With bitcoin at a top 60% no one is bitching about it. But now they are trying to make a big fuss out of it. Doesn't make sense at all.

[Kavallo]

Bitcoin is now 33% and Ethereum is 20%.  The flippening will be upon us soon!

Today it has been quite tough for Bitcoin... Bitcoin under stress by bears' selling pressure, fighting on the 10K line, most alts tanking and Ethereum in full bull mode rising...  Puzzling.

[The_Dark_Knight]

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

You are comparing one of the lowest points in market dominance against one of the highest point in the previous year, so the difference is huge, also as time passes the dominance is going to get lower as more projects that are worth our investments begin to appear, so this is nothing to be surprised about, however the day a coin could surpass bitcoin in market cap is still very far away.

[Quonelet]

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

There is a lot of information from many countries regarding the Bitcoin ban in their country, which has had a significant impact on its price. But I also think it has gone up too high in the years apart, and now it goes down to stabilize its price. It will continue to go down, and I think the amount of 8,000 is a stable figure for a long time.

[btcformula]

It's market rules, nothing can grow continuously. It's time for alt coin. Also people love big profit that can give alt coin now. So we need to wait for some time.

[royale143]

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

For now, I agree. I may not be able to quantify it as 'halved', but I think that right now the dominance in the cryptocurrency market is shared because bitcoin's value is in a stand still, if not, decreasing. However, come the time when it catches fire once again and surge in value, I think that it will also regain that sole 'king of the hill' title it always possessed.

[poplolnman]

Good to see that at least some people in this thread understand how insignificant Bitcoin's "decreasing" dominance is. It's pretty annoying how noobs keep thinking that a market cap is the only thing that matters, while in reality it isn't. I have seen a $1000 billion market cap shitcoin already last year, and that was before Bitcoin's bull run started -- does that mean Bitcoin has been demolished by that shitcoin? Noobs speak please.... Because if we have to believe the general faulty logic of the people here, then it basically means that Bitcoin has been overtaken, surpassed, rekt, etc.

Market capitalization could be one of top reference to see how good the product it is but of course it's not everything to decide which one the best, which one have much more functionality etc. market capitalization of bitcoin decreased due lack of development on the blocksize problem and then people looking for alternate to put their money in, we might can see how ripple climbed up, ethereum getting closer to bitcoin marketcap and tons of good altcoin grow and developed in the last couple of months.