Bitcoin nearing %50 crypto marketcap domination

[richardsNY]

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.

You'll lose that bet. If Bitcoin for whatever reason starts going down, especially so with how disappointed people will be when yet again an ETF gets blocked, altcoins will start climbing up, it's that simple. The only reason altcoins have been declining is because they think parking capital in Bitcoin is a more profitable practice. People don't care about anything other than their precious profits that altcoins offer them over Bitcoin, and they won't part with them for that exact reason. Using altcoins as investment is like investing in Bitcoin with a 2-3x leverage. From that point we can't really blame the smaller home investors....

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[consideritdone]

If more token released. Surely the way dominance calculated will only reduce bitcoin
Unless you filter a set of coins btc has higher dominance
https://www.coingecko.com/en

[buwaytress]

Hasn't really mattered to me, and I doubt it'll get to 80% again, not at the rate the alt market keeps artificially inflating, anyway. But this is definitely the return to pattern - if you're a fan of patterns - that signalled last year's sustained bull run. If we'll recall earlier in the year on the way to $10k, dominance didn't change much as Bitcoin dragged the rest of crypto back to its feet.

Not this time, however. Can't say how long it'll last, it's already pulling back to 8k.

[felixesteban]

Thats a good sign for the next altcoin rally. If Bitcoin breaks 8500 resistance then we can see a uptrend for altcoins. For months all alts keep bleeding, I  hope recovery is soon.

[hatshepsut93]

It's unlikely that alts will die just now, however we might be witnessing the first crack. They will probably still have a few bubble phases, but people already start realizing how useless altcoins are with their inability to deliver on promises and poor quality of their software - everyday you can read the news about some coins getting hacked or attacked or about them having some centralization issues. With Lightning Network getting closer to official release, altcoins will lose their "cheap transactions" narrative and will focus on the last feature - smart contracts.

[ShineftChaos]

Thats a good sign for the next altcoin rally. If Bitcoin breaks 8500 resistance then we can see a uptrend for altcoins. For months all alts keep bleeding, I  hope recovery is soon.

I think that it was a good sign because the statistics of the market is just the same as last year and it could sky rocket again on december.

[Pursuer]

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.

I wouldn't be so sure about that because this is not real dominance it is just market cap comparison between bitcoin and the rest of them and since there are a lot of them and it is easy to pump some coin with a huge supply and increase the market cap further the so called dominance of bitcoin would decrease soon.

as for going back to alts, there is no specific time for that. they are always getting pumped every day of the year. the pumpers aren't just going to stop because bitcoin is rising. instead they just move to another coin to pump that one then another next day and so on.

[donalfonso]

bitcoin will always maintain market domination, first because its still the most liquid crypto ever, that can easily be converted to other currencies, so there will always be demand for bitcoin hence its dominance will continue based on this simple fact.

[CybereyesWinger]

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?

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[cellard]

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%.

Alts have been going down since BTC started going up. The times of "alt season" following a BTC bull market may be over. People are slowly catching up to the fact that alts are just a tool to get BTC from the foolish enough to think any of them as a chance of replacing BTC.

Of course this is not to say that you can't still make some good gains in the altcoin market speculation to increase your BTC holdings, but they will be increasingly niche and thus harder to find the one that pumps and pumps with strong enough volume to not leave you holding useless bags for life. Remember that one must be able to sell with enough volume. Unless one is playing with a small amount, you are going to risk permabagholding.

[BitcoinNewbie15]

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%.

Alts have been going down since BTC started going up. The times of "alt season" following a BTC bull market may be over. People are slowly catching up to the fact that alts are just a tool to get BTC from the foolish enough to think any of them as a chance of replacing BTC.

Of course this is not to say that you can't still make some good gains in the altcoin market speculation to increase your BTC holdings, but they will be increasingly niche and thus harder to find the one that pumps and pumps with strong enough volume to not leave you holding useless bags for life. Remember that one must be able to sell with enough volume. Unless one is playing with a small amount, you are going to risk permabagholding.

I tell you, this is starting to seem truer and truer every day. I totally agree that I am only using alts as a way to earn more BTC, however it is royally backfiring as I am losing some serious BTC because of it. I only have LTC, ETH, and XMR, none of these newer garbage coins (looking at you EOS). I believe LTC will be able to survive an altcoin apocalypse as it has purpose as a testbed for BTC and it also can be viewed as digital silver, similar to how Bitcoin is digital gold. I do enjoy seeing Bitcoin regain dominance, just wish I had more BTC instead of losing it... What are your thoughts on LTC? Do you agree that it could survive an altcoin apocalypse?

[BitHodler]

bitcoin will always maintain market domination, first because its still the most liquid crypto ever, that can easily be converted to other currencies, so there will always be demand for bitcoin hence its dominance will continue based on this simple fact.

Bitcoin will always remain the top dog, but we shouldn't ignore the fact that Ethereum will keep growing as well. I don't like Ethereum, but we just have to admit that regardless of its purpose, it does very well.

On the other hand, if after all the years only Ethereum managed to grow this large, then it shows how weak this industry actually is. It will be extremely difficult for any coin to come close to Ethereum.

In an instant it wiped out the need for another platform to launch ICOs and other stuff on. What other than Ethereum does the market needs? It can do everything other tokens can do and it has the crypto mass on board.

[SummerBliss]

With altcoins dooming and BTC booming, it was expected that BTC might cross the 50% dominance in mcap. But alts have started rallying too when BTC is going sideways. I don't think that BTC would be able to break 50% dominance anytime soon. Alts are gaining pace and will most probably maintain their marketcap at 50%+.

[Florina1990]

Bitcoin it has a very important domination and will continue it's way and can value 100000$ over time. Just continue to watch and bitcoin will reach 85% maybe in crypto marketcap domination.

[wxa7115]

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

snip

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?

Bitcoin dominance is kept artificially low, many of the forks of bitcoin lowered the dominance of bitcoin in the market especially bitcoin cash, I really think that in the next 5 year there is going to be a complete slaughter in the altcoin market, there are some good coins there like ETC, Monero, Dash or Litecoin, but there are many unnecessary coins as well, when people finally realize that those coins have no future and many are scams I really think that about 90% of the altcoins will disappear and bitcoin will have a market dominance between 65% to 75%

[BrewMaster]

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%.

Alts have been going down since BTC started going up. The times of "alt season" following a BTC bull market may be over. People are slowly catching up to the fact that alts are just a tool to get BTC from the foolish enough to think any of them as a chance of replacing BTC.

Of course this is not to say that you can't still make some good gains in the altcoin market speculation to increase your BTC holdings, but they will be increasingly niche and thus harder to find the one that pumps and pumps with strong enough volume to not leave you holding useless bags for life. Remember that one must be able to sell with enough volume. Unless one is playing with a small amount, you are going to risk permabagholding.

the thing is, there has never been a "altcoins following BTC bull market" time ever! last year was one of the most misleading times in cryptocurrency market history because everything was like now meaning bitcoin was rising and altcoins were falling but then the scaling drama started which was followed by the biggest spam attacks against bitcoin in the history of it.
that meant fees going high and altcoins gaining some excuse to advertise themselves as cheap and fast.
have you forgotten "Dash will replace bitcoin" "ETH will replace bitcoin" .... ads that we kept seeing last year? ads get more investors, more investors pumps the prices and bubbles form up but they are not sustainable. that was the reason for the rise of altcoins alongside bitcoin.

[richardsNY]

In an instant it wiped out the need for another platform to launch ICOs and other stuff on. What other than Ethereum does the market needs? It can do everything other tokens can do and it has the crypto mass on board.

Definitely. It's a matter of supply and demand, and Ethereum does that what noobs want it to do, but it's solely based on speculative and fraudulent use and for that reason believe it's not sustainable. Governments are cracking down on ICO's, which won't be much of a growth factor anymore and when people are done with airdrops as well the use will decline even further. 95% of the transactions on its network isn't from Ethereum itself, but all other products which is quite dangerous actually. It means that Ethereum has nothing else to fall back on in case all other uses no longer enjoy the demand they used to enjoy.

[stompix]

~snip
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%.

Alts have been going down since BTC started going up. The times of "alt season" following a BTC bull market may be over. People are slowly catching up to the fact that alts are just a tool to get BTC from the foolish enough to think any of them as a chance of replacing BTC.

Of course this is not to say that you can't still make some good gains in the altcoin market speculation to increase your BTC holdings, but they will be increasingly niche and thus harder to find the one that pumps and pumps with strong enough volume to not leave you holding useless bags for life. Remember that one must be able to sell with enough volume. Unless one is playing with a small amount, you are going to risk permabagholding.

I knew i had discussed this somewhere
I was checking the graphs when BTC dipped below 8k, the alts went down faster.
And now when BTC is up again they are rallying slower, dominance went to 47.3%

Probably as you say people are starting to understand what alts are really about, although I don't put too much hope in it. Investing in alts is a lot like betting on horses, you can cash out with a fortune betting on an unknown coin and you can lose thousands of BTC with so-called "legit coins" or trustable ones.

I've never liked altcoin, never felt comfortable holding them, not planning on starting back dealing with.

[aghedo1]

It shows investors are showing much confidence in bitcoins.the altcoins are not drained