Bitcoin nearing %50 crypto marketcap domination

[cellard]

Bitcoin is returning where it should be, to around a natural 80% marketcap domination over all cryptocurrencies.



Are we going back to sanity (80%+ of Bitcoin marketcap dominance) or this is a short lived period in which people are scared to be left holding bags and people sell to BTC temporally before the altcoin insanity continues?

If the dotcom analogy was to be correct, then we would need a 6.7 trillion crypto marketcap before the cleansing happens and all shitcoins die and then BTC solidifies a 80% dominance bottom, then we have a long term of "crypto is dead" again and Bitcoin goes to $1,000,000

This is of course if the dotcom analogy plays out exactly like that. We may avoid a stupid huge altcoin bubble here and maybe altcoins are dumped for Bitcoin avoiding that situation.

When do you think we will go back to 80% dominance and how?

[1713867574]

1713867574

[mike4001_]

I just have to agree that it's kind of strange.

Normally when Bitcoin rises, all the Altcoins rise too (some even more than BTC (%-wise)).

But apparently not this time.

[gentlemand]

Are we going back to sanity

No. I do however think most of the ICO shit will fade away. But other than that this is business as usual. As soon as Bitcoin starts to look hungry people run from alts. As soon as Bitcoin has had its giant bowel movement and takes a nap people decide it's alt pump time again.

I don't think 80% will ever be a thing again. Nor should it be. I don't really get why all things need to thought of as parts of the same entity.

Perhaps the dominance will remain higher simply because so many alts have proven to be so dire, but it depends on whether it's a rally or turns into another bubble. If it's a bubble then your nose hairs will be pumped if someone tokenises them.

[qazgroup]

Im not sure about 80% dominance but i think that even if the dominancy increases to 60% alongwith the volume that will hopefully cross 1000 billion mark we can expect btc to grow to new all time hivh price.

[clonely]

I don't know where will go Bitcoin but, alts are not going well in this days. I think it will rise up a little bit more.

[hase0278]

Are we going back to sanity (80%+ of Bitcoin marketcap dominance) or this is a short lived period in which people are scared to be left holding bags and people sell to BTC temporally before the altcoin insanity continues?

It is only a temporary period where people are going back to BTC not just because of people being scared to be left holding bags, I believe the current crypto market is in the period where people are taking profit from the altcoin market to the bitcoin market. They might buy another set of alts to bet on, or they can just continue to hold it as is for the next bitcoin pump.

[abanansah]

Bitcoin market dominance and volume that allows liquidity among other cryptocurrency is the main reason bitcoins is going to lead the crpto market for a long time and no other coin can overtake it.

[shulio]

Bitcoin has more marketing power than all the altcoins combined. None of them has been near to take place of the leader, Bitcoin. But it is early to say that the dominance will reach to 80% percent. There is time for that.

[thecodebear]

Don't think Bitcoin will go back to 80%, but ETH is very low compared to Bitcoin right now, and ICOs are dead right now, so for now the only real focus in the market has shifted back to Bitcoin. And with Bitcoin possibly gaining institutional investment in the near-ish future it will probably go back to the 60% range before new money starts diversifying out to altcoin to try to make even more Bitcoin. I think Bitcoin will probably stay between one third and two thirds of the market as it has been since early last year when ETH started its rise. When altcoins pump Bitcoin goes down to 1/3rd, when Bitcoin takes over it heads back up to 1/2 or 2/3rds of the market.

If BTC ETF gets approved next month we'll see it shoot towards 60% marketcap.

[pooya87]

since this is not "dominance" and since there are still nearly 2000 shitcoins/tokens out there with billions and billions of coins in circulation the 80% is not "sanity" and we may never see it ever again unless the market is cleaned from at least 1500 of these useless crap.

dominance of bitcoin has always been 99% and will remain that much. and its share of the total market cap is currently 46% and it may go even lower as more shitty ICO tokens are being released out of thin air. it is so easy to produce millions of dollars worth of market cap every couple of hours and it is the logical and real bitcoin's market  cap versus bloated and fake market cap of nearly 2000 coins. it is supposed to go down.

[vit05]

I think this increase is just a prelude to Bull Run. Soon we will have a race to the alts.

But what I really think is important, is that the BTC is still dominant as the main asset for trading the alts. It is totally dominant in this respect. No other approaches. This shows the great liquidity and a possibility of the price to always be correct anywhere on the planet.

[Sanu Simon]

I don't think the dominance of bitcoin will reach 50% at the shortest, soon when the growth of altcoins gets initiated automatically the dominance level gets dispersed between different assets. Right now the growth of ethereum is much expected and it might contribute to some extent of the market capital.

[cellard]

since this is not "dominance" and since there are still nearly 2000 shitcoins/tokens out there with billions and billions of coins in circulation the 80% is not "sanity" and we may never see it ever again unless the market is cleaned from at least 1500 of these useless crap.

dominance of bitcoin has always been 99% and will remain that much. and its share of the total market cap is currently 46% and it may go even lower as more shitty ICO tokens are being released out of thin air. it is so easy to produce millions of dollars worth of market cap every couple of hours and it is the logical and real bitcoin's market  cap versus bloated and fake market cap of nearly 2000 coins. it is supposed to go down.

True, the marketcap dominance factor is really misleading due the sheer amount of ridiculous shitcoins out there as described by this article in here by whalepanda:

https://medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4

It is nonetheless relevant since the biggest % is taken out by the active top 10 coins, so random shitcoins aside, looking at the top 10 and how their marketcaps develop against bitcoin is relevant enough to monitor.

It seems to be hoovering at around 47% now. Some altcoins have gone up again in the last hours with the BTC rise it seems, but anyone with a brain should be selling shitcoins for BTC, including the top 10 ones. Guys, none of these alts cut it, simple as that. ETH is a bloated clusterfuck, XMR has massive scaling problems, LTC is a joke, IOTA was exposed as unsafe, BCH is Roger's toy... there's nothing worth holding there.

[arpon11]

Bitcoin is returning where it should be, to around a natural 80% marketcap domination over all cryptocurrencies.



Are we going back to sanity (80%+ of Bitcoin marketcap dominance) or this is a short lived period in which people are scared to be left holding bags and people sell to BTC temporally before the altcoin insanity continues?

If the dotcom analogy was to be correct, then we would need a 6.7 trillion crypto marketcap before the cleansing happens and all shitcoins die and then BTC solidifies a 80% dominance bottom, then we have a long term of "crypto is dead" again and Bitcoin goes to $1,000,000

This is of course if the dotcom analogy plays out exactly like that. We may avoid a stupid huge altcoin bubble here and maybe altcoins are dumped for Bitcoin avoiding that situation.

When do you think we will go back to 80% dominance and how?

Yes,  When I checked it this morning it was closed to 48% and to me this is very healthy. In days to come fund are going to flow back to altcoins and it is a tools that has been used several times.  When people hear any positive things about cryptocurrencies the first coin that do come to their mind to buy is bitcoin and from there buY other coins.

[stompix]

Are we going back to sanity

No. I do however think most of the ICO shit will fade away. But other than that this is business as usual. As soon as Bitcoin starts to look hungry people run from alts. As soon as Bitcoin has had its giant bowel movement and takes a nap people decide it's alt pump time again.

I think it's the other way around, when btc goes up, alts go even higher when bear seasons starts it's even worse for shitcoins

On April 2nd dominance was at 45% and it started to go down, while price kept increasing till May 5th.
At that point, dominance was at 36%.

But right now, it's something pretty weird happening, the altcoins have barely rallied.

Total marketcap has gone up by ~45billions in the last 30 days, 36 billion are BTC share.
Probably...hopefully..the alt madness is starting to lose steam.

Would be pretty interesting to see what happens if BTC dips gain below 8000$, if the alts bleed even worse this so called dominance will reach 55% if not 60%.

[BrewMaster]

I think this increase is just a prelude to Bull Run. Soon we will have a race to the alts.

the thing is, altcoin's market cap can grow faster and bigger than bitcoin's which is why we are at 47%-50%,... instead of being at 90%+. for example when some altcoin has already 40 billion coins in circulation and it rises something like $1 then it will increase the total market cap by $40 billion easy. and that is just a small pump for said coin.

by the way where did you get that money flow chart from?

[v_Harley]

At the beginning of the bull market, the percentage of the market value of BTC will be more than 50%, so if the control of BTC can reach more than 50%, it should be a good thing for the encryption market.

[buyinbtc]

Well the dominance is going to continue to increase, especially if the bitcoin price will keep on going up from now on. I can almost bet that it is going to go up until at least 60%, then it will be a good time to move back in alts again.

[LoverOfBitcoin]

Totally agree with you. Found not so long ago project that based on quantum processors idea - Kelvin Blockchain, have you heard about this one?

[nl247]

I will only agree we are going back to sanity if after a while that bitcoin starts consolidating, we won't start seeing the dominance reducing and altcoins taking the pump. It is not the first time that we will see such happening anyway and so far, we can see the altcoin dumping pretty fast as a whole lot of traders are trying to pick the bitcoin movement profit. This would be a good opportunity though to see a whole lot of the shit coins go down the drain completely with no chance of survival.