BITCOIN DOMINANCE, HOW FAR WILL IT BE?

[GraingerTainMian]

If we think about crypto market then yes BTC is the leading coin in market but there are few coins which are also strong like ETH, Ripple , EOS etc based on this those are known as altcoin also it can’t possible to rule alone because altcoins are there.

[CodiepieBCT]

I figure the mastery of bitcoin will always be expanded as long as the fame of bitcoin still prevailing as well. In any case, since the ETF additionally critical in bitcoin, when ETF gets affirmed, I'm likewise pondering perhaps it will be at least 75% bitcoin predominance in advertise capitalization.

[Lisedc]

Basically BTC is not dominating this market because this market is decentralized and there are some good altcoins which have good values in market based on this it is impossible to btc to dominate this market.

[rahimali]

BTC market value is down now but it’s dominance still increasing and it’s almost more than 50%` In future it will be increase more.

[SlashEject]

This is a good news. With each passing day, the dominance of Bitcoin will rise more in the market. Now, Bitcoin alone holds almost half of the total cryptocurrency market capitalisation. When ETF will get approved by SEC, I think the dominance of Bitcoin will rise more.

[LateMoveR52]

It is impossible to predict right now about the ETF approval as we still don't know how the community would react to it. After the Winklevoss' ETF rejection a lot of the investors might have lost their hope on the next hearings of VanEck or CBOE ETF propositions. So, only time will tell how these will affect the Bitcoin dominance further into the market.

[jonloner011]

As we can see, if the ETF gets approval, it will be a boom effect in the BTC price market as BTC will get full ETF hype. The dominance of 50% will surely grow to upper 70% and will impact directly in the price market leading BTC in the moon.

[Soeracyone]

This would be good for the market. If the dominance of Bitcoin rises higher, the price of Bitcoin will also increase. We also know that the price of altcoins are indirectly related to the price of Bitcoin. So, this is a good news for the entire market.

[Cave Basilisks]

ETF approval looks like far from being possible right now but since everything is unpredictable and recently, SEC is also giving out mixed signals, there might be a chance for it to happen if everything goes the right way and this will definitely cause Bitcoin dominance to grow since a lot of people will get interested to invest in Bitcoin due to the publicity.

[Leo mons]

The dominance of bitcoins wold have been much higher and would have been quicker had it not been for the news regarding ETF. But the chances are high that it will have three quarters of the dominance if ETF gets approved.

[StringFire]

The dominance doesn't really indicate something specific as we have seen Bitcoin dominance to increase during both bullish trend and now, the bearish trend. But, if ETF gets approved, their will be a huge chance for not only the dominance to increase even more but also it might cause the price of BTC to go higher.

[Sbdip]

75%  That would kill the alts.. Although its good for btc seems.. But not good overall.. It'll kill the market .  Don't think the crypto market will go well if it happens

[coinwizard_]

The ETF will raise the dominance and price of bitcoin but  savvy investors will know that bigger gains can be found in altcoins instead. When you can buy x amount of e.g. NEO with a bitcoin, money will shift to alts.

[audaciousbeing]

This got me wondering, anytime there is a fall in market capitalization, we have an increasing bitcoin dominance, current sits at over 50 percent, what will happen if the ETF gets approved, are we going to have bitcoin draining the entire market,since the ETF is primarily a bitcoin thing at the moment, Is it going to be say 75 % bitcoin dominance for a market cap of 1 Trillion dollars? What do you think? Good or bad for the market?

Why are you wondering and perturbed about what you cannot do anything about. The dominance of bitcoin in nonnegotiable at this time and I don't see any alt coin coming to take the stage anytime soon. The reason as have it is because of the change bitcoin has bring into the crypto community. The issue of KYC is gradually sanitising things (although this has its disadvantage) which is attracting more confidence on an increasing level. For ETF, I won't put much confidence in it because you are sure its going turn out positive. If it does, then its an addition to achieving the full potential that bitcoin is set to do.

Maybe later in the future, we might get to see other coins taking the centre stage but for now, we need to do with what we have.

[edzleochico6]

Admittedly, the Bitcoin dominance index is not very reliable. It is a purely quantitative metric and one that doesn’t accurately depict a market that is obsessed with novelty.

[sunlitit654]

Many crypto available in this era and still the quantity of different crypto increasing rapidly but BTC still hold it’s popularity because of it’s sustainability.

[SoliDCoiNs777]

Currently bitcoin is at 50% dominance. I think it will keep increasing. Some researchers say that in a few years it will touch 60% or more than that.

[niktuneable]

I suppose that the Bitcoin Dominance can grow a little more if ETF gets approved but I don’t think it can go further than 65%, even I think that 60% of bitcoin dominance is a lot, we need to wait and see what happens when the time comes, Bitcoin will grow continuously but also altcoins will do it.

[thepers0n]

I think that it can last for long time. BTC is much more popular these days and investors prefer BTC that altcoins because of its big and rich history.

[dreammoney710]

I personally think that bitcoin dominance will keep going. In previous year it was 50.72% and now it is 50.77%. If it keeps increasing in this way, Bitcoin may reach to 70% or more dominance.