Bitcoin is currently cannibalizing altcoins

[Nebell]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

[seo-maestro]

BTC rise up to $20K again and everybody sell alts for btc to get profits ... or maybe up to $50K?

[bratbu]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

Marketcap is increasing and its only means that Investors are putting their money to bitcoin's market because they know bitcoin is going to skyrockets few hours from now,because bitcoin's general direction is upwards which means we are going to have a bullish market in the next few days so i suggest you should stick with bitcoin too so you wont get trapped with these altcoins.

[yugyug]

Bitcoin is the benchmark of all cryptocurrencies but major altcoins and tokensare correlated with the ETH where major tokens and new altcoins are dependent on ERC20 platform from ETH, i am considering that ETH will still the mother of altcoins but BTC is the king of cryptos.

[DiabolicAnt]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

No, I don't think so. Market has not recovered yet from the recent crysis. In nearest future we'll x2-3 prices on the alt-coins as well, I'm 100% sure in that.

[Brothersav]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

It's hard to judge as BTC is tied to all alt coins. I think you need to weigh each alt coin to be worth a $ figure instead of sathoshi value. The deeper BTC dives, most alt coins hold their $ value relative to BTC satoshi value. When BTC increases youll see sathoshi value fade away. It's a game to increase your BTC holding in alt coins. Hopefully ETH will become king.

[entemeister]

It´s bitcoin season now , when BTC stabilize there will be an altcoin season

[Cosmo2020]

This simply is a BTC rally without the others. There were 2 or 3 mini-rallies last month. This time, its the market mover - Bitcoin.

[ItsEzMkay]

Bitcoin was always going to take back some of the market share but it doesn't mean the altcoin run is completely over or gone, I think it is on a temporary pause right now. I do expect alts to party again, and Bitcoin at some point will take over 50% market share but which happens first I don't know this.

[rommelzkie]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

you might be correct that altcoin hype is already fading. investors are not that interested in ICO compared to last year. Good thing that government imposed regulation to stop the increasing activity of scam shitty coins.

Bitcoin will dominate this year and many altcoin will pop up like a bubble and most of them the shitty one.

[Reatim]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

I don't think so. Maybe people are shifting funds around, going to bitcoin because its started a rally. Well, at least that's how I read the market and bitcoin's dominance.

And I don't think that the altcoin hype is finally fading or dying most specially the top 5 - 10 altcoins. Yeah, they have their days under the sun, but I'm sure that in the next coming months most of them will increase as well even getting into all-time-high. What I don't like though is that those altcoin fan boys shouting that bitcoin dominance will be over. It will not happen. Sorry to burst the bubble to you guys.

[toolsmans]

this is a normal picture. This does not mean that altcoyins do not grow. If you take and watch the price of altcoyin in dollars, then they also have growth. Just the growth of altcoyins does not keep up with the bump, because more money is pouring into bitcoin. Now generally there is a general pumping of the market. And do not forget that to buy many altkoins in the beginning you need to buy bitcoin. And this is pushing the course even higher. On what the hamsters react and again fly into the cue ball.

[Polipog]

Actually bitcoin is the main types of all crypto-currencies, other crypto-currencies are based on bitcoin prce movement, if we noticed, bitcoin price goes down rapidly, all kinds of crypto also following down rapidly and bitcoin remain their price at the top. So altcoins also follow bitcoin price movement, and it would not be happen that altcoin having price that above bitcoin.

[chocopapaya]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

You have to be careful to not take small movements in the market and then make huge assumptions.
That is not an informed trading practice.
Rather, you analyze data, compare it to trends in the past, find patterns, then predict a percentage range increase.
It might sound complicated, but hey, I'm just an English teacher.  Before crypto I HATED and sucked at math.
But I learned how to do it through hardcore research and practice and I can tell you this: numbers give way better profits rather than speculation.

For the current state of the market, what you have, is a combination of some new money entering the crypto world.
It is almost always through btc first, sometimes through eth.
also, the semi new ones from the past two months are starting to think that their shitcoin that was hyped by mcaffee or whoever isn't going anywhere so they are migrating back to a stable investment.
As the market goes up, people will start to gain more confidence and the wild speculative investments will begin again and, voila! Our next bull run.

[ruthbabe]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

I don't think so. Maybe people are shifting funds around, going to bitcoin because its started a rally. Well, at least that's how I read the market and bitcoin's dominance.

And I don't think that the altcoin hype is finally fading or dying most specially the top 5 - 10 altcoins. Yeah, they have their days under the sun, but I'm sure that in the next coming months most of them will increase as well even getting into all-time-high. What I don't like though is that those altcoin fan boys shouting that bitcoin dominance will be over. It will not happen. Sorry to burst the bubble to you guys.

I think what's happening now in the crypto marketplace is something related to Pump and Dump Schemes involving people who buy crypto coins all at the same time to increase the price and sell it when the value increases for huge profits. The scheme involves finding cheap coins to purchase and then artificially boosting their prices through misleading statements via news outlets and social media like Twitter and Telegram before cashing out. Please read, WALKTHROUGH: How traders 'pump and dump' cryptocurrencies and How Bitcoin Pumps and Dumps Work.

[Flor1982]

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

I think this is not because this is due to the mentality of the traders are now set to Bitcoin in which they think that investing in Bitcoin is much faster to gain than investing or holding their altcoin in which also a strategy to ensure earning but i believed this is just temporarily because we just came from trauma of corrections in which most of us wants to ensure recovery of the losses.

[fortunecrypto]

Bitcoin is in a correction period, and altcoin is also on its correction period too after the huge crash that happened last month, altcoins are still in a good race to make a good profit, bit honestly Bitcoin is still a supreme in the cryptocurrency markets.

[Acguy]

To me this just means there's no real new money entering the market and it's just alts trading back for bitcoin.

[Casmania]

In my own interpretation, since bitcoin is now on recovery mode which is currently happening this time and continuously increasing, more people may have shifted to do investment more on btc rather than altcoins. With this, people are seeing much greater opportunity with btc to earn more than with altcoins. Based on the coinmarket cap price history, majority of the alts were on downward trend probably because of the shift in investment going to btc.

[@prashant]

Its nothing new,it happens all the time btc increase altcoin drop,after btc hype will be over altcoin will touch a new height,majority of altcoin should fall as they are shitcoin without any use just are for payment option which is not required.