BTC dominance halved

[andhovesyan]

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?

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[UnusualLeech045]

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.

[cpfreeplz]

Something will pass at some point if the tech doesn't improve drastically and soon. Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless. Once we're seeing normal tx fees again we'll see steady gains. I don't really understand how Bitcoin surged so much with all of these scaling issues, but I love it. I never complain when my Bitcoin is worth more!

[andhovesyan]

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.

You're right, currently it's still so, since most of alts trading are possible against BTC, so you always need to buy BTC at first, also BTC is kind of a brand and many people thinks it's the only cryptocurrency. But will BTC still dominate when the crypto currency reaches "ordinary people"?

[gabmen]

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?

Eventually bitcoin will be overtaken. Though not in the next couple of years. Btc's pump latter part of 2017 made a lot of people interested not just in bitcoin but in crypto in general, hence alts were also noticed and their potentials. Bitcoin will still be the top cryptocoin for now but expect the alts to have their fair share of the market.

[miyaka26]

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.

Some of the altcoins are now independent by the movement of the price of btc but don't get me wrong
the majority is still dependent on the price of bitcoin, it has something to do by the decrease of its price for almost 50%
goes down to 10k to 13k bracket price added by the vast amounts of altcoins who are emerging to crypto market
to cope the needs of the increasing investors every day, some of them are interested in other altcoins rather than bitcoin who lacks some great features which some altcoins have, I think that's the reason why the dominance falls for almost 30%.

[BrewMaster]

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"?

no mate, it still is the same thing as before. the same pump and dumps are happening in altcoins as before and bitcoin % of market cap is going down because there are  50-100 new altcoins created with a lot of market cap and also the big bloated altcoins with huge market caps were pumped (like ETH and XRP) and that contributed to the total bloated market cap a lot.

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?

yeah it will happen. it has already happened with XRP, its total market cap is so much bigger than bitcoin's.
that is how market cap works. you create a HUGE number of coins (100 billion or 1000 billion should do) then you only have to pump your coin to $1-$5 and you will have a bigger market cap from bitcoin.
easy peasy lemon squeezy

[stompix]

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??



 

[Indrawan77]

Its not wrong that bitcoin dominance is decreasing and a lot of investors has swapped to alt coin to make profit and some of them not using bitcoin anymore because the fee ia super expensive, if the developer could decerease the fee and increase the speed transaction then people will back to bitcoin, so I don't really worry about the dominance, if bitcoin could upgrade then its just the matter of time people back to invest btc

[stompix]

Its not wrong that bitcoin dominance is decreasing and a lot of investors has swapped to alt coin to make profit and some of them not using bitcoin anymore because the fee ia super expensive, if the developer could decerease the fee and increase the speed transaction then people will back to bitcoin, so I don't really worry about the dominance, if bitcoin could upgrade then its just the matter of time people back to invest btc

https://blockchain.info/tx/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0

1$ fee to move more than 400 millions $

Is that expensive?

[1Referee]

Eventually bitcoin will be overtaken. Though not in the next couple of years.

Bitcoin won't get overtaken you coin jumper. With Lightning Network coming closer it's going to be a challenging time for altcoins - which ones will become even more redundant than they already are, and which coins with an actual purpose will manage to keep growing. I wouldn't want to hold any shitcoins with this in mind.

Bitcoin will still be the top cryptocoin for now but expect the alts to have their fair share of the market.

The problem with people paying attention to "Bitcoin's dominance" that's based on an utter nonsense metric as market cap, is that they don't understand that Bitcoin can ONLY lose in this aspect. It's the entire altcoin market versus just one single coin called Bitcoin. Do you seriously think it's fair for people to keep referring to Bitcoin's shrinking market cap dominance?

[pawanjain]

Something will pass at some point if the tech doesn't improve drastically and soon. Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless. Once we're seeing normal tx fees again we'll see steady gains. I don't really understand how Bitcoin surged so much with all of these scaling issues, but I love it. I never complain when my Bitcoin is worth more!

Even I think that at some point of time some coin will surely bypass bitcoin because one thing can't be at the top forever. Although I disagree with the fees because the fees is not much now as it has been reduced now to 40 Satoshis per byte which is 10 times less than what it was before a few weeks. Bitcoin surged so much despite the scaling issues because it was in the news and trend and everyone was investing in it regardless of it's huge fees. This is why the price went up so quickly. Since now everything is back to normal we might see a stable growth in a few weeks.

[tomahawk9]

doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

People (newcomers and investors) have started to pay attention to altcoins because they found out they can make quick money in the short-term thanks the pump and dump schemes. "independent"? not really, take a look at the charts today, the sea of red wasn't caused by XRP or ETH, BTC went down and altcoins followed.

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?

If you mean by market cap, then yes, a few alts can take the #1 spot from Bitcoin, but other than that, alts will always be secondary.

Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless.

what's actually pointless is your comment. What $10-$20 fee are you talking about? you can literally send a tx with just 10-40 sat/B fee and it will get comfirmed in the next 2 or 3 blocks.

[MV7]

The cryptocurrency landscape is entering unprecedented territory. I don't think BTC dominance has ever been this low, and the gap between BTC and any other coin this close. I'm also very curious to see what will happen, but I think BTC will still be the king for a long time. It's still the most widespread and easiest to buy with fiat.

[qiman]

Things are looking supposedly quiet on the Bitcoin front but  have a feeling that we will wake up suddenly one day and see Bitcoin rising high again and the altcoins bleeding again because Bitcoin is going up. This time we saw altcoins bleed, because Bitcoin price crashed. We will only see the good altcoin grow and survive through these very volatile times but Bitcoin even though has lost some of it's dominance still controls the market as all tokens and coins are pegged to it.

[audrey12]

People take alt coins as an option for investment  after gaining so much trust on bitcoin and since they saw the potential of most alts the demand increases which maybe the reason why the value of most alts appreciate. But in terms of paying more attention to alts I don't think that is really the case now because people are still focus on bitcoin it was just that they need to exert much effort in choosing a good alts for investment.

[Wolfwar]

People take alt coins as an option for investment  after gaining so much trust on bitcoin and since they saw the potential of most alts the demand increases which maybe the reason why the value of most alts appreciate. But in terms of paying more attention to alts I don't think that is really the case now because people are still focus on bitcoin it was just that they need to exert much effort in choosing a good alts for investment.

The fact is that in reality a lot of users today prefer altcoin and etherium, and also try to bypass Bitcoin. Already, whoever has Bitcoin investments, expect what will happen in the near future.

[nikjain422]

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?

It can happen as BTC has gone down subsequently and recovery has been quite a task right now.But i still believe the next best coin after bitcoin is way below in terms of prices and with that deficit to cover,it will be the very difficult to get into the position of bitcoin or to over that but one thing can happen and validly put in above quote and that is the sale.It has been drastic fall in bitcoin sale and drastic improvement in alts sale,there are many reasons for this but most prime one is downfall of bitcoin and also because of many options in alts for people to invest this will make altcoins more independent.

[DanielRR1997]

As Bitcoin peaked to $20,000 just before Christmas last year, it was unstoppable in both its growth and dominance, but since then it has dropped away in both respects as altcoin seasoned opened up the new year. The original cryptocurrency saw its dominance fall to below 33 percent as others such as Ripple, Stellar and Tron have snatched some of the overall market cap. However, already on the comeback trail, the belief is that Bitcoin will still be the market leader through 2018.

[olubams]

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?

Sometimes when argument like this are made I just laugh because with hundreds of coins and several hundres more as token with several more coming out on a daily basis bitcoin alone was able to corner 34% in the market while others try to get as much as they can from the remaining 66% and even the 34% is just a matter if days which might increase to any percentage in a matter of days. For that reason,, I am not bothered.