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Author Topic: Pay attention to Bitcoin dominance so not to loose big time  (Read 117 times)
Jamesp2k
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August 05, 2018, 01:20:27 PM
 #1

There is an important field in coinmarketcap "bitcoin dominance" most people 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 36%. 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 altcoins even some in the top 10.

You have two choices to make;

1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.

2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.

This is my opinion. What do you think guys?
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August 05, 2018, 01:26:16 PM
 #2

Facebook net worth fell $160 billion when facebook shares price fell -20% in one day. Bitcoin market capitalization is some $150 billion.
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August 08, 2018, 02:18:13 AM
 #3

Holding onto only BTC will not be a wise decision. Th best one will be to hold onto BTC and onto some other profitable altcoins, such as ETH. That way, you will not have all your eggs in one basket.
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August 08, 2018, 02:32:49 AM
 #4

I used to have quite a bit of bitcoin, only that I was stuck in an altcoin game, I lost almost 90% of the bitcoin I had. At least altcoins can still last for the next 2 years. That's my hope.

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haruharu732
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August 08, 2018, 02:44:15 AM
 #5

Bitcoin, at present, is too volatile and limited to be a suitable method for trading. Bitcoin is clearly expected to rise sharply after a 20% price increase in July. But to date, it's too sad.
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August 08, 2018, 03:12:54 AM
 #6

Holding Bitcoin is the best thing, in my opinion, although you can go for a few altcoins like ETH, EOS, LTC, but make sure to do your researches, and go for the long run always.
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August 08, 2018, 04:34:16 AM
 #7

According to me, it is better to invest on few altcoins that have the potential to grow again. ETH, EOS, NEO are some of the alts that I think would be profitable in the long run even though alt market gets crashed. But, holding Bitcoin is the wisest decision one can make given the current situations.
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August 08, 2018, 04:46:22 AM
 #8

there is absolutely nothing important about that field in field in coinmarketcap called "bitcoin dominance"! that number you see there can say 99.9999% or it can say 0.000001% and it still wouldn't change a damn thing. bitcoin is still going to be the dominant cryptocurrency and the altcoins are still going to remain the same pump and dumps schemes that nobody takes seriously apart from sad bag holders.

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August 08, 2018, 08:17:32 AM
 #9

There is an important field in coinmarketcap "bitcoin dominance" most people 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.
I think the reason for this is:

  - One of the reasons for the decline in the dominance of Bitcoin is its high price, as many seem to be losing hope of earning foreign profits from simple investments. [Invest 1$ in shitcoin & earn 100000 after three years]

 - Multiple trading platforms and the possibility of buying altcoins directly without the need for Bitcoin is an extra reason where in the past you must buy Bitcoin to get alts.

 - There are more than 1,700 coins, so the daily increase in those currencies should reduce this dominance.

1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors cannot ignore.

All altcoins "except Shitstablecoins" depend on the price of the Bitcoin so if you want material gains, bitcoin is your choice.
Also, if there is an economic shock, all the altcoins will return to zero.

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August 08, 2018, 08:21:38 AM
 #10

In particular, in the declining market, the dominance of bitcoin will become bigger and bigger. The market share of bitcoin has risen by 5% in the past month, which will increase with the disappearance of a large number of altcoin.

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August 08, 2018, 08:30:45 AM
 #11

I'm buying Bitcoin for the long term. When people are scared of Bitcoin, I'm glad, simply because I have the strategy and belief in Bitcoin's strong comeback.  Cheesy Cheesy
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August 08, 2018, 08:41:38 AM
 #12

Bitcoin’s domination has seen by the whole world when it took over 50% of crypto currency market last year. But the investors should be concerned about the recent 11% price fall of bitcoin price. Investors should be very much attentive regarding the dominance and growth of bitcoin as it can boom any time.
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August 08, 2018, 08:49:14 AM
 #13

yes currently we are seeing the same cycle and price of most alts are 90% down. we need good news to turn to positive move of prices which we need atmost right now. some new exchanges in new york is very promising to increase exposure to more people.

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August 08, 2018, 09:25:40 AM
 #14

Right now if I am right with my memory bitcoin dominance is at the point of 41% so it is less than before but anyway it is still a big point, I think there is no reason to be worried yet about Bitcoin.

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August 08, 2018, 12:15:28 PM
 #15

Yeah it is true that BTC price is little low now. But it will hit the market again soon. So it is a good opportunity to hold some more bitcoin. I hope it will be beneficial.
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August 08, 2018, 12:23:35 PM
 #16

in bitcoin market understanding the correct opportunities is very important so knowing all the current updates will help you to understand your opportunity otherwise you will never able to earn profit
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August 08, 2018, 03:36:52 PM
 #17

You are right, your instructions will be of great help. I think Bitcoin is very bright in the future. So if it is holding it will be good profit in the future. Until then you have to wait.
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August 08, 2018, 03:45:31 PM
 #18

Holding onto only BTC will not be a wise decision. Th best one will be to hold onto BTC and onto some other profitable altcoins, such as ETH. That way, you will not have all your eggs in one basket.


a plus 1 for this! one the of the golden rules in investing is, "Don't put all of your eggs in one basket". We need to diversify our investments to minimize the potential risks. There are lots of quality coins in the market. You only need to find them. Right now, I'm starting to add more on my portfolio.


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August 08, 2018, 03:50:14 PM
 #19

I really don't concentrate much to the bitcoin dominance because the price of bitcoin moving irrelevant to the dominance level,but as you said the dominance level of bitcoin was at 50% at the end of 2017,so now also nearly the same so we are going to see new all time high on the bitcoin prices.

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August 08, 2018, 03:54:35 PM
 #20

There is an important field in coinmarketcap "bitcoin dominance" most people 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 36%. 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 altcoins even some in the top 10.

You have two choices to make;

1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.

2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.

This is my opinion. What do you think guys?

My opinion, i bother what the CEO of bitmex said bitcoin is not reach it's lowest this year, it will go below 5k before it moon.
I think i will buy more when 5k and hodl my current btc

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