Bitcoin Dominance

[PhoenixEmpire]

As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?

Would love to see your input on those.

[1714807145]

1714807145

[1714807145]

1714807145

[1714807145]

1714807145

[1714807145]

1714807145

[1714807145]

1714807145

[1714807145]

1714807145

[erickkyut]

I suggest to be careful now because the ghost month is approaching. I'm happy with the current pump but I cannot set aside the possibility that it is just a bull trap. Always invest with caution. So far, the altcoins are now starting to dump but Bitcoin remains strong and keeps on rising.

[adaseb]

The dominance is important but the percentage is not really accurate since everyday there are tons of new coins listed on CMC.

Every coin that's listed will have an effect on Bitcoin dominance because it might be some small coin but might have a marketcap over $1 million easy and that will affect the ratio a little bit.

So 50% dominance today might of been similiar to 65% dominance about a year ago. Its not a very good measure.

[phucngungoc]

As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?

Would love to see your input on those.

You can see that today's bitcoin prices have risen sharply from $ 7300 to $ 8000 at present, altcoin prices are starting to fall sharply and market capitalization is not much increased, this gives The capitalization of the altcoin is being poured on bitcoin. I think the bitcoin price will be able to grow very strongly and may reach $ 8800 in the near future.

[mobnepal]

We can't exactly say whether current small pump is just a start of another bull run or a bull trap but we have to diversify our investment right now between altcoins, bitcoin and fiat. Don't just hold one coin and expect it to get pumped along with bitcoin if there will be a surge. Once bitcoin will start to pump many traders tend to sell their alts for bitcoin out of FOMO which cause dump in alts price and when bitcoin price start to go sideways alts will start to pump again.

But market might not react just like in past so be careful with your investment, its your hard earned money so don't get FOMO entry with it.

[tosmartak]

As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?

Would love to see your input on those.

The only poinbt a bull run will be confirmed right now is if we are able to break $10000 and also we should not forget the possibilities of fail break outs during bear trends and that would take some extra caution for anyone who wants to get into a position. Also, last year is obviously not an indicator of what could possibly happen this year, because we are totally in the opposite of last year right now.

[nicster551]

As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?

Would love to see your input on those.

It's because people wants to join the ride and is now transferring to Bitcoin from alts. But I know that people will be left out when Big whales tries to transfer again from another coin I know that a lot of people will be angry again.

[Pursuer]

nobody cares about market capitalization except the altcoin bag holders who want to say their altcoin is worth something just because its market cap is higher than some abstract number. bitcoin's dominance is not its market cap and how big it is compared to the whole market.

bitcoin's dominance is the fact that it has the highest volume, the most number of investors, the most number of users including merchants and customers, and a lot of other real world factors that altcoins do not have which means bitcoin's dominance has always been near 100% even when its percentage of the market cap was going down because of altcoin pumps.

[Indamuck]

I suggest to be careful now because the ghost month is approaching. I'm happy with the current pump but I cannot set aside the possibility that it is just a bull trap. Always invest with caution. So far, the altcoins are now starting to dump but Bitcoin remains strong and keeps on rising.

I really think this is just a bull trap, this bear market may continue for a very long time like the crash after 2014.

Bitcoin dominance is still very high and will most likely continue that way.  Most altcoins don't serve much of a purpose and bitcoin is really the only coin that has mainstream recognition everywhere.

[xIIImaL]

Now the current market seems really good and people will enjoy about this price trend we see from last week. As I noticed bitcoin price going to touch 10k USD at least this month. If you want to utilize the situation this is the right time to do that.
In volume wise and price wise bitcoin value seems started growing in the market. I have checked the marketplace value of the every coin all seems green trend now, whether you are a trader or hodler please have the fund in your wallet do not sell it.

[danherbias07]

Funny how threads are being created.
The other week it is all about bitcoin is dead and a lot more FUD's about bitcoin and then, with a sudden rise it began to be a dominating currency.
What is the matter with this people?

I do think this is just the start. But hey, look at the difference by now. Some altcoins are not being pulled up the same way bitcoin is. Looks like they might be switching back to BTC.

[BTCeminjas]

Bitcoin dominance is used to measure hiw much Bitcoin is worth as percebtage of all cryptocurrency values. Bitcoin is the gateway coin for a lot of investors, they buy BTC before purchasing coins, but also because of its high profile and low volatility ( which is something of a relative statement). Bitcoin dominance of the cryptocurrency market is at its lowest level ever to rising interent alternative digital coins.

[trumper]

I have no idea what kind of change there will be regarding dominance of coins but I hold some of valuable coins and I don't care about the dominance of btc at all 

[Tigorss]

We can't exactly say whether current small pump is just a start of another bull run or a bull trap but we have to diversify our investment right now between altcoins, bitcoin and fiat. Don't just hold one coin and expect it to get pumped along with bitcoin if there will be a surge. Once bitcoin will start to pump many traders tend to sell their alts for bitcoin out of FOMO which cause dump in alts price and when bitcoin price start to go sideways alts will start to pump again.

But market might not react just like in past so be careful with your investment, its your hard earned money so don't get FOMO entry with it.

itcoin will probably dominate. This can be an easy target for cyber criminals because we know Bitcoin and digital currencies are very anonymous. This should be the highlight, not only that the number of bitcoin users will be a new problem in the world, especially in the world economy.

[Aizhen05]

Funny how threads are being created.
The other week it is all about bitcoin is dead and a lot more FUD's about bitcoin and then, with a sudden rise it began to be a dominating currency.
What is the matter with this people?

I do think this is just the start. But hey, look at the difference by now. Some altcoins are not being pulled up the same way bitcoin is. Looks like they might be switching back to BTC.

Most of people here is thirsty with the increasing price of bitcoin, that's why there are many people are created an thread like this. The bitcoin price are increasing but we can't set a side the possibilty that it might be down again.

[Skrillhabib007]

Bitcoin dominance is at its highest level since the beginning of 2018. According to data collected by CoinMarketCap, bitcoin’s total value is just shy of $130bn with the entire crypto market coming in at $276.9bn. This means that BTC currently constitutes 45.5% of cryptocurrency’s total market capitalization.

[Koro-Sensei]

Funny how threads are being created.
The other week it is all about bitcoin is dead and a lot more FUD's about bitcoin and then, with a sudden rise it began to be a dominating currency.
What is the matter with this people?

I do think this is just the start. But hey, look at the difference by now. Some altcoins are not being pulled up the same way bitcoin is. Looks like they might be switching back to BTC.

Most of the time good reviews really do help Bitcoins morale however the negated part of it has been emphasized through the years and it is not that shocking if some people starts saying Bitcoin dominance when it is already dominating in the process. This thread needs an update or maybe not.

[Kemarit]

I'm not a fan of this whole bitcoin dominance and marketcaps because its not a good indication as the strength of the coins per se relative to its market position. There's a lot of alts that can easily to go the top 10 and claim to have the dominance, we've seen Bitcoin Cash, EOS, Ripple and even Ethereum try to dominate and get the number 1 position from Bitcoin but was never successful. As for the price, the ETF application is really pushing the price right now, as to where it is a bull run or not, we can't say, because we have to wait till the decision is handled down by the SEC in August. It might be a bull run leading up to the decision and then we will see where it will go.

[demenBTC]

there are still many people who doubt the btc increase that is now happening, trauma is the reason most traders, I personally still doubt this increase, I am more willing to invest in altcoin

[yohan09]

As we have seen in previous bull run, Bitcoin dominance peaked at 66% on 8th then alts started to pickup then BTC price reversed on 17th. What is your perception on the next bull run how high do you think the BTC dominance will reach this time?
Do you think it will be lower because of so many new coins have entered the market since then?
What do you think of the current price rise, where do you think it will confirm a bull run?

Would love to see your input on those.

Bitcoin isn't as useful anymore as the on chain fee's are too high therefore people are looking at alternatives to bitcoin. Thus value is flowing out of bitcoin into other currencies and this can be clearly seen in the lack of bitcoin dominance. User's want new features and they're going to other coins to get it. If current conditions persists, Then bitcoin will eventually be overtaken by another currency such as etherium and other valuable currency coming.