Bitcoin is currently cannibalizing altcoins

[tomahawk9]

Do you think that altcoin hype is finally fading?

It is starting to fade, as shown in the increase of BTC dominance, but I'd say there's still a long way to go before the hype is completely over (btw, by hype I mean dumb money being thrown at X or Y altcoin).

You said "cannibalizing altcoins", but I wouldn't go that far, though it's going to happen in the long-term. What we're seeing right now is something that many people knew it was going to happen after the irrational hype wave around altcoins that we saw in the market back in the December, capital from alts is flowing back into the bitcoin ecosystem, as well as new money from investors that are getting ready for the next bull run.

We're still far from what I think the 'standard' btc dominance should be (+55%), but if the trend continues we might see that number very soon.

[rizkyhiw]

I think altcoin hype will still exist and continue to accompany bitcoin that do not know how long.
Bitcoin will keep rising as high as $ 30,000 easily in just a few moments. It's because of the loss of the issue, the fear among the public that many whales have come back to invest their money in bitcoin.
Yes, indeed some altcoins like shitcoin come and just disappear, but not all of them.

[Prodigan786]

Normal fluctuation in market always common still bitcoin and other currencies are fluctuating . But my bet for this year will be eth, neo will be the undisputed kings.

[v3liana]

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?

Yes when bitcoin increase altcoin will decrease some value.  Its not strange that more people are into bitcoin and sell their altcoin that makes marketcap of altcoin down. I do believe bitcon is able to touch 15k$ in few month and after that it will be altcoin turn to increasing. Ethereum and neo indeed will be the best coin in this years especially neo that has been grow so high last month.

[rysea2]

yes, I've seen that. bitcoin is increasing in recent days and other alts are starting to throw away but I think in the near future surely altcoin will also catch up and experience increase.

[tole123]

I think it's natural that the other alcoin is down, many factors can affect alcoin down, I'm sure one day surely another alcoin can bounce like bitcoin now

[lelou]

I like the term "cannibalizing". I dont think altcoins will completely fade away but I remember the days when the bitcoin's dominance was almost 90%.

[yurenchuang7125]

Bitcoin is the benchmark for all cryptocurrencies, because bitcoin is the king.

The market is growing steadily, and most altcoins will continue to grow.

[leland orser]

If the bitcoin could keep such gains, so a bull market is coming soon, because the bull market is generally begins with the rise in the bitcoin, and then the next altcoin will have a good gains.

[VackFromOhm]

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?

Definitely not, bitcoin has a lot of problems and bitcoin by itself isn't enough to keep this whole market alive. They're all going to go back to near exponential this year, don't get ahead of yourself thinking that the altcoin run is over- not even close.

[linkybit]

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?

Altcoins can go up again and bitcoin can go down, there is no surety bitcoin will be back to $20k in a month or two. If bitcoin start increasing, altcoins start decreasing that's how it works.

[aizen10]

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 its not fading,  the transparicy of altcoins is raise after bitcoin raised. Meaning if bitcoin pump the effects is dump from the altcoins,  because some investors are pulling out their fund in altcoins just to switch in bitcoin to earn profits until it will drop again.  Then if bitcoin drop, some altcoins are going to raise because of switching.

[Ausgewielt]

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 agree with your title of thread. Bitcoin is not cannibalizing altcoin, its depend on investors who hold the altcoin. When bitvoin price increase people will buy bitcoin to follow the pump and sell it again to fiat or back to altcoin.

[trecore4]

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?

The world of crypto currency is really tricky stuff. I mean there was time few weeks ago when everyone was saying that the is the year of altcoins or this is the year of ethereum but now look at this one, the whole whole world is now saying that bitcoin is taking over the others and it will be the dominating currency. That really confusing isn't it. I mean why there is always comparison between these two I never understand. Bitcoin was anyway the original one and there is nothing new about it when it takes over the other market or whenever there is increased dominance for the same. I am sure we are looking at completely normal scenario which was the case before the year end of 2017. Whenever BTC went up the alts used to go down because alts were traded for the BTC and thus putting all its market into BTC.

[batang_bitcoin]

Most altcoins are red.

Check the market today and you'll see that even bitcoin is on red.

Bitcoin is currently more than twice the market cap of #2, Ethereum.

Its the first crypto and original so there's no question on how big the market cap is and besides most of the crypto people are supporting bitcoin.

Do you think that altcoin hype is finally fading?

Not yet but maybe soon when LN is good to go.

[Hatuferu]

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 agree with your title of thread. Bitcoin is not cannibalizing altcoin, its depend on investors who hold the altcoin. When bitvoin price increase people will buy bitcoin to follow the pump and sell it again to fiat or back to altcoin.

That's correct, they actually grow together and that is good with bitcoin.
Bitcoin is still dominant but if you look at the overall marketcap, they are growing and that is already a good sign that they will grow
more in the future.

[Kryten12]

Until there is a fresh sustained flow of money coming into cryptocurrency then we are likely to see this ebb and flow between Bitcoin and the alts on a regular basis. The overall market cap of crypto isn't changing much in the past few weeks and until that changes expect more of the same.

You will still find some coins fairing better than others during these cycles and I think some ICO coins will be unaffected during their sale period

[Ulanisohon]

Half day ago BTC was increasing while other alts went down. I thought that everyone sold their alts to buy BTC. But now we can see that all the coins are going down ...
And as for me I don't see any reason for that... Is there any bad news? Or just regular correction ...

[raven.tiu17]

Half day ago BTC was increasing while other alts went down. I thought that everyone sold their alts to buy BTC. But now we can see that all the coins are going down ...
And as for me I don't see any reason for that... Is there any bad news? Or just regular correction ...

Bitcoin keeps increasing, All alts right now are in higher low position this is the time to buy alts before it go up!. I feel it that there will be a bull run for the incoming weeks to come. so better hold some coins if you have it!

[Ulanisohon]

Half day ago BTC was increasing while other alts went down. I thought that everyone sold their alts to buy BTC. But now we can see that all the coins are going down ...
And as for me I don't see any reason for that... Is there any bad news? Or just regular correction ...

Bitcoin keeps increasing, All alts right now are in higher low position this is the time to buy alts before it go up!. I feel it that there will be a bull run for the incoming weeks to come. so better hold some coins if you have it!

Thanks for your constructive optimism! Very hope that it will be so..!
Because the market is already fed up with these bearish waves..
Although I won't buy any alts at this moment...Just hold. It's important to be calm and measured.