The bitcoin dominance level is getting much closer to 50%. What does it mean?

[romero121]

While the price reached the ath value the dominance level of bitcoin was close around 55%, now bitcoin is close to 50% after a long. With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing. Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

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[mk4]

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing.

Pretty much almost everything is declining in price.

Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

A price pump is always possible irregardless of the dominance %. It's just a matter of when.

[pooya87]

the dominance level of bitcoin was close around 55%,

wrong!
"dominance" of bitcoin is still up there near 100% as it has always been for years and that has not changed that much. maybe it  dropped to 95% at some point but it is still up there.
what you are quoting is not "dominance" it is market cap share which is meaningless and only coinmarketcap.com calls it falsely "dominance".

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

wrong again.
traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there.

the reason why the market cap share of bitcoin is increasing is the same reason why it was decreasing. because altcoins market cap is fake and easy to rise so also easy to drop.
when a coin has 100 million coins in fake circulation and its price goes up $1 its market cap goes up 100 million. but when bitcoin price goes up $1 its market cap only increases ~$17 million.
for instance when ETH got dumped another $100 down to $300 range it simply lost $10,125,000,000 ($10 billion) market cap in a blinking of an eye.
same with XRP. a $0.2 dump meant it lost $8 billion market cap.

this is how fake market cap is! and this is why it shouldn't even be used in first place to compare them.

[mk4]

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

wrong again.
traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there.

Well, quite true. But that's completely assuming that majority of traders actually know what they're doing. We're talking about the majority here, possibly(not claiming that this is 100% factual) moving their altcoins to bitcoin as it's getting dumped a bit less in terms of percentage.

[romero121]

The dominance of bitcoin keeps growing, now it has crossed the 50%, the statement putforth in one of the previous quote stating the people's interested towards bitcoin keeps growing. Now the investments over altcoins seems taken back and those were getting invested on bitcoin.

[pooya87]

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

wrong again.
traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there.

Well, quite true. But that's completely assuming that majority of traders actually know what they're doing. We're talking about the majority here, possibly(not claiming that this is 100% factual) moving their altcoins to bitcoin as it's getting dumped a bit less in terms of percentage.

well it is true. but it has nothing to do with market cap and what they call "dominance" though. the reason for that "dominance" change is what i said above and also the fact that altcoins are dropping a lot faster than bitcoin. for instance a 5% drop in bitcoin price in past 24 hours has been equal to 10-15% drop in top10 altcoins.

people exiting altcoins is either one of two things. they dump them for tether which is why tether volumes are high at times like this or they dump them for bitcoin and then since bitcoin is also falling they panic sell that to get real fiat and make a complete exit of the market. in fact this can be one of the reasons why bitcoin price drops at times like this.
neither of these two increase bitcoin's market cap.

[Vishnu.Reang]

It can mean only one thing. A lot many of the altcoins were heavily over-priced, and they are steadily losing their value. Look at Ripple. It had a market cap of close to $40 billion a few months back. Now it is down to $13 billion. IMO, the fair market cap for XRP is around $1 billion.

[jseverson]

In the most general sense, it basically means Bitcoin's market cap is doing better than the rest of the altcoin market. There are many possible reasons behind this though, of which many have already been speculated over by other posters.

Personally, I think this just means that the market is barely attracting new money. The overall altcoin market cap is always being pumped by new shitcoins, so its general decline suggests a decline in (new) shitcoin value. We also have to note that Bitcoin itself isn't doing significantly better than most of the top coins, so it follows that the lower echelon of altcoins must be the most significant factor for the change.

But yeah, as many would tell you, Bitcoin Dominance as a statistic is meaningless because of how easy it is to pump the altcoin market cap with forks/ICOs. For some perspective, Bitcoin Gold, which is a shit fork that recently got hit by a 51% attack, contributes $340 million dollars to the altcoin market cap. That's just ridiculous lmao.

I would also say market cap is also mostly a meaningless metric, but I digress.

[Pursuer]

uh man again with the market cap nonsense
altcoins get pumped, we hear market cap everywhere. altcoins get dumped we again hear the same market cap everywhere and it still is just as meaningless.
what does it mean? it just means altcoins are continuing to get dumped as they were before and their dumps get more severe at times which means their total market cap of 2000 altcoins drops hard.

[bond07]

BTC crossed it’s worst time this year because it’s decreasing till the begging of the year. But still it’s dominate crypto world cause it’s makes itself  sustainable to  investor’s .

[Chashguhs]

I personally think that this is normal bitcoin is the most popular cryptocurrency and the mose truseted too. Now a days the market is full of scam tokens and condition of other alt coins is also not that good. That's why people are moving towards bitcoin.

[Zifu2018]

Yes, bitcoin dominance is growing now and has crossed almost 50%. As now ALTcoins is charging their price very high, people are taking back their investment from the ALTcoins. They are now much more interested in BTC and investing there.

[B4btc]

It means altcoins are not doing well and losing their value. Previous year Ripples market cap was $40 billion but now it is only $13 billion.

[Tykeim Carson]

It is quite true but not accurate. The dominance of bitcoin has been growing now and almost crossed 50%. People are now again investing in bitcoin taking their investment back from the ALTcoins. Altcoins are now charging over price and people are not interested in it anymore

[Tallay]

Well, it is quite true to some extent. The bitcoin dominance is growing and now it has crossed almost 50%. Now people are taking back their investment from the ALTcoins as they were heavily over priced and they are losing their value. People are now investing in Bitcoin!

[Aleshia696]

It can be true. But it is estimated and most businessmen actually know what they are doing. Bitcoin dominated over other altcoins with its feasibility and popularity.

[CptWhsikeyjack]

While the price reached the ath value the dominance level of bitcoin was close around 55%, now bitcoin is close to 50% after a long. With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing. Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

It means that people are holding more bitcoin and are using bitcoin to make transactions rather than using BCH or ether. BTC is at its rightful position. BCH is nothing but a gimmick that roger and Bitmain used. The day Bitmain ditches BCH thats when BCH is dead. And pump we have seen for bch that was nothing but Bitmain buying a ton of BCH and inflated the price and the BCH followers followed like lambs for slaughter.

[aleksej.rozhkov]

it was a small increase due to some countries that are very actively began to buy bitcoin! a lot of people and traders decided to wait out the hard time in bitcoin! now it is very profitable to buy ochtalnye krypto coins, they have very low prices!

[zenrol28]

It almost means nothing actually. Everyone is now dumping their altcoins back to bitcoin. Bitcoin is their safe haven. But bitcion's price will not pump because of that. It will remain the same. All hail to altcoins that said bitcoin has huge gaps and their better than it. It's like a black friday for altcoins when the market goes red.

[althiche]

To simply put the increased dominance of Bitcoin, people are backing it up and putting their trust on it. Which is why bitcoin dominance is increasing. However, Market capitalization calculation can be easily manipulated so it doesn't significantly helps us to come to decision. I just expressed what I realize from such numbers and figures.