Bitcoin dominance threatening the existence of most cryptocurrencies

[IndigoRed]

Well… bitcoin does appear to have an insurmountable advantage over its competitors when it comes to market share and popularity, but no one knows for sure the true implications of the competition because the world has yet to master this so-called decentralized virtual currency. Technology expands exponentially by the day, and different cryptos seem to have different features that make some more appealing than the others. But the best will always come out on up.

[Sarah Reiss]

On the other hand, the domination of Bitcoin helps the Altcoin grow. In the cryptocurrency market there are many coin, in order to survive they have to compete with each other and especially compete with Mr. Bitcoin. The competition helps other coin grow and develop. By only developing it can be enough strength to compete with Bitcoin.

[Altf4]

Bitcoin dominance will not treathen the existence of most cryptocurrency ,because bitcoin as the lead coin in the coin markets , serves as the referrence value of other altcoins which are also circulating in the cryptoworld, so bitcoin is the guide coins of the altcoins and tokens in the coin market cap.

[RBEP-RBC]

Regardless of how you measure dominance, bitcoin is likely to be 99% of the new adopters' entry point into crypto whether that is through individual investment or institutional pathways. For many people crypto IS bitcoin. I don't see this dominance going anywhere esp since so many alternatives are either untested or have problems (but realizing that they too have higher ambitions for what they can do than bitcoin).

[pooya87]

On the other hand, the domination of Bitcoin helps the Altcoin grow. In the cryptocurrency market there are many coin, in order to survive they have to compete with each other and especially compete with Mr. Bitcoin. The competition helps other coin grow and develop. By only developing it can be enough strength to compete with Bitcoin.

in a perfect world this could have been correct and we could have seen a constructive and real competition where they improved in order to become more successful. but what happens in reality is that these altcoins start a social experiment to see what people want to see and what makes them most hyped up and then create something advertising that. for instance last year privacy coins became a thing for a while and during that time we saw half a dozen privacy coins but 5 out of 6 weren't even private coins! and they got pumped.

[kulsuma]

I think the momentum will soon stop. The Bitcoin price was recovering in the market till the last week Monday when the price started falling again. But I guess this is temporary and soon the price will start rising again.

[wxa7115]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

You got it backwards, altcoins are the ones artificially dropping the dominance of bitcoin, the real dominance of bitcoin should be in the range of 70% to 80%, and if the developers of altcoins do not like that then they should put more effort in their own projects instead of trying to blame bitcoin for their problems, because if it was not for bitcoin in the first place it is doubtful they will have a project at all.

To me what it is happening is clear people are losing hope in altcoins and icos because of the very poor results they are getting not only in terms of money and profits, but also in terms of adoption and the technology in itself, despite the claims of many developers only a few altcoins have any kind of use, all the rest of the coins are there just to speculate with them.

[Rozita]

Bitcoin dominance has increased, But what has happened to bitcoin itself? Has the price risen? No, So bitcoin is also being threatened.

[MiukoOk]

I do not think that. As we all know, the existence of Bitcoins has a great impact on the rest of the Altcoin. The change in exchange rate of BTC will make the market volatile. So the Altcoin can not avoid this problem.
So it can be said that in the Crypto market, Bitcoin is like a king who reigns for a long time, the arrival of the altcoin as a filler for this great potential market.

[tegarp90]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

People is quite boring waiting for ETH that was always postponed and now most of them sell their bitcoin.
And right now the market cap is the lowest of the year, i think they're wait for new low

[so98nn]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

Claiming market capitalization to be bitcoin dominance is a false exaggeration. Even if the market capitalization continues to rise, it would not threaten the existence of altcoins. As when more investors would eventually want to enter the crypto market they will want more than one  place to lock all their funds in. Besides it will be really ironical if bitcoin would eventually become the doom of the ICO market.

[Baimovic]

I agree with you, that bitcoin still has a big influence on markets and other altcoins, bitcoin falls and other altcoins also fall, I am worried that altcoin not only falls and loses value, but disappears from the market, like UAHPAY. and now we can't detect UAHPAY coins on CMC.

many people speculate, if the ETH gets a good response from the SEC, then bitcoin will reach a value of 20K, some people think that the bitcoin ETF is a rocket that can bring bitcoin to the moon like in 2017.

but, in my opinion, this is a wrong perception, I agree that bitcoin ETF has a good influence on bitcoin volatility. but ETF alone isn't enough to bring bitcoin to the moon.

[wxa7115]

Bitcoin dominance has increased, But what has happened to bitcoin itself? Has the price risen? No, So bitcoin is also being threatened.

Of course not, you are talking as if the price is the only measure stick to determine if a coin is at risk, the reason that work for altcoins is that altcoins only exist for one reason to speculate with them very few altcoins are useful and are used for the reason stated in their whitepaper, bitcoin in the other hand besides its price has the best developers behind it improving it every day.

And not only that bitcoin is also a network, why do you think that Facebook is so valuable? Because it has hundreds of millions of people using that social network everyday, the bitcoin network is very valuable since millions of people are using it and as its popularity increases that number will go up, so bitcoin is not threatened at all by its current price.

[mikyadel]

Bitcoin dominance doesn't have any negative impact on the existence of other cryptocurrencies , but rather on their prices . what bitcoin dominance simply means is that people are shifting their investments from other alts to bitcoin which is good in this time as we need more volatility to regain the trust of investors and once market recover , bitcoin dominance will return to normal like 25-30% of the market.

[havok1998]

It was predicted long ago that most of the altcoins in the crypto market will crash once BTC begins to gain dominance in the market. Its always good to hold only those coins that have real world applications and advanced and unique technologies. It was predicted in early 2018 that 75% of the altcoins will fail and cease to exist. Maybe the prediction is coming true. Just hold well established coins which have real world applications and you have nothing to worry even if BTC dominance reaches 80%.

[Matthewlee]

Even today, the market share of BitConnect is over 6 million. Technology expands exponentially during the day and different ciphers seem to have different features that make some features more attractive than others.

[MarkCook777]

I think that Bitcoin can approve cryptocurrency with its advantage. After that, Altcoin will be able to grow on the market and take up its position.

[Spaffin]

The dominance of Bitcoin in the cryptocurrency market may not destroy altcoins, but it has a depressing effect on them. We can especially see this in the example of this year. Bitcoin was pumped, it fell in price since December and for the whole year the whole cryptocurrency lay on the price bottom. Everything almost stopped, including ICO projects. In my opinion, we didn’t want such a decentralized cryptocurrency market.
Many here criticize the Altcoins and their uselessness. Yes, the percentage of uselessness of altcoins is high, but this is still one of the main directions for the development of cryptocurrency. Moreover, the practical direction, the one that will be introduced into practical activity, and not pump air, as most universal coins do. In general, I am not satisfied with the hard price dominance of Bitcoin in the cryptocurrency market and I hope that the market itself will soon be able to solve this problem.

[Abal Abal]

actually what is the big impact that bitcooin gives, so that the price of the altcoin is affected by that impact?
and is it true that most people only see from the company in domination only when they invest in crypto?

[ahmad21]

Dominance of bitcoin in the market is not threatening to other coins, what I think!! Most of the new members of the community have preceived the meaning of the bitcoin dominance in the wrong sense and that make all the difference! Everybody's got their own viewpoints regarding the bitcoin's dominance, and everyone's level of interpreting the same differs. So it is entirely subjective matter and let's not get into that. What my opinion is that the bitcoin is a major crypto coin, so the price movements of the bitcoin have either a direct or indirect bearing on the price of all other cypto coins. Actually all other coins do not have such a good market capitalization rate when compared to bitcoin. So that's the reason they do not come up in the highlights!!