[2018-08-11] Bitcoin Eclipses 50% Crypto Market Dominance First Time Since Dec

[BitcoinArsenal]

Bitcoin has long been at the forefront of the crypto industry; and it seems with the market’s most recent move downwards, Bitcoin’s dominance over the rest of the market may continue, or at least for a little while longer.
Full article on NewsBTC

[InvoKing]

I don't get what's the big deal of having more than 50% Bitcoin dominance or less than that. Bitcoin supporters will continue using it forever and altcoin supporters will run in the first big drop

[hatshepsut93]

I don't get what's the big deal of having more than 50% Bitcoin dominance or less than that. Bitcoin supporters will continue using it forever and altcoin supporters will run in the first big drop

I like looking at Bitcoin dominance charts, even though they aren't very meaningful as marketcaps are so easily faked with premines, low volumes, centralized supply and manipulation. Seeing Bitcoin getting back it's dominance despite all the attempts of altcoins to dethrone it makes me feel good, because I've been telling people for quite some time that alts are garbage and are doomed to fail in the long run.

[FlamingFingers]

I don't get what's the big deal of having more than 50% Bitcoin dominance or less than that. Bitcoin supporters will continue using it forever and altcoin supporters will run in the first big drop

This is good news. It means that the market is rationalising and returning to pre–late 2017/early 2018 bubble state. Now gone are those altcoins highly inflated prices and fake marketcaps.

[milewilda]

I don't get what's the big deal of having more than 50% Bitcoin dominance or less than that. Bitcoin supporters will continue using it forever and altcoin supporters will run in the first big drop

This is good news. It means that the market is rationalising and returning to pre–late 2017/early 2018 bubble state. Now gone are those altcoins highly inflated prices and fake marketcaps.

Some people doesnt really care at all about dominance percentage but for us people who do really believe on bitcoin would really most likely to be happy on what we are seeing. Taking its dominance to the market gradually and im also glad we do see past 50% since the start of this year where it do dropped   32.46% on early January while top altcoins in the market being pumped up and now we are seeing the reverse things which is really just right.

[aso118]

Bitcoin has long been at the forefront of the crypto industry; and it seems with the market’s most recent move downwards, Bitcoin’s dominance over the rest of the market may continue, or at least for a little while longer.
Full article on NewsBTC

This is good news. It means that the ICO bubble is finally bursting. People won't be able to raise millions of dollars just by publishing a white paper and doing some marketing. Sanity finally returns to the crypto space.

[cryptofonia]

It means that in relative measure we witness Bitcoin growth and secondly there is no substantial correlation between Bitcoin and altcoins movement.

[nutildah]

It means that in relative measure we witness Bitcoin growth and secondly there is no substantial correlation between Bitcoin and altcoins movement.

Altcoin movement is absolutely dictated by bitcoin movement. When BTC moves up, alts move up. When BTC moves down, alts move down.

This is because BTC is the least risky of all coins. A decreasing BTC dominance means crypto investor appetite for risk is increasing. An increasing BTC dominance means investor appetite for risk is decreasing.

[buwaytress]

Again, not that I give this much credence, since I find dominance in the same category as market capitalisation when it comes to useful factoring, but the fact that Bitcoin can still plunge the depths of 30% of its ATH while dragging the rest of crypto by the scruff, I'd say this is yet another statement of its strength and resilience. All the other alts have been doing nothing but trumpeting their developments and partnerships this year, while Bitcoin is slowly building on Segwit adoption and its LN testing and growth has been beyond expectations.

The longer this sideways persists, the stronger its climb back to the top will be, whenever that will be!

[mazdafunsun]

The BTc dominace is just another indicator with what describe crypto market as a whole, in my mind there is not much to it.
This shows that alts are bleding out, hard. I belive that we are finally entering phases which are often reffered as " panic" and " despair"  in genral chart of bubble bursts.

[hugeblack]

I do not know why everyone is talking about "Bitcoin Dominance" or any unimportant news and makes it the news of the hour? Is this because of a lack of good news?
Everyone knows that cryptocurrencies are bitcoin and the reason for the decline in dominance "Mathematically" due to the rise in the price of Bitcoin and the rush of new investors to altcoins in search of quick richness.
Bitcoin Dominance = 99% "real value"

[1Referee]

It means that the ICO bubble is finally bursting. People won't be able to raise millions of dollars just by publishing a white paper and doing some marketing. Sanity finally returns to the crypto space.

It is definitely bursting, and in more ways than just one.

The recent development of projects panic dumping their raised Ether tokens is the worst of all. It basically shows that raising capital in Ether is a dead end since you can't rely on its price. If you raised $100 million in capital during the hype, only $25'ish million is left of it right now. That sucks and deems Ethereum worthless for serious projects to develop on.

If that isn't enough, these projects aren't able to completely cash out to USD through Ether's markets and for that reason have to eat through Bitcoin's liquidity as well. In other words, Ether's problems are Bitcoin's problems.

[Voknap]

Indeed, the ether, like a platform. There are certain problems, and specifically with the price completely agree, it is difficult to rely on the object, the fee in which you accept, when it at any time can depreciate. It is very interesting whether this will be a solution to the problems, or all will be left as is, in that case they risk losing the market.

[BitHodler]

I do not know why everyone is talking about "Bitcoin Dominance" or any unimportant news and makes it the news of the hour?

The rule of the mass applies. If enough people think the market cap dominance of Bitcoin is a big deal, then it's a big deal. The same applies to technical analysis that a lot people here consider to be nonsense.

Admittedly, following the market cap dominance is quite interesting on its own. It's not that it has any actual importance, but it does show how every cycle results in different coins to run into a positive momentum.

We had the Ethereum boom, the Ripple boom, for a short while even a Bcash boom. It grants you interesting statistics to play around with and see how repetitive all these altcoin boom cycles are.

[Ruhtilg]

It means that the ICO bubble is finally bursting. People won't be able to raise millions of dollars just by publishing a white paper and doing some marketing. Sanity finally returns to the crypto space.

It is definitely bursting, and in more ways than just one.

The recent development of projects panic dumping their raised Ether tokens is the worst of all. It basically shows that raising capital in Ether is a dead end since you can't rely on its price. If you raised $100 million in capital during the hype, only $25'ish million is left of it right now. That sucks and deems Ethereum worthless for serious projects to develop on.

If that isn't enough, these projects aren't able to completely cash out to USD through Ether's markets and for that reason have to eat through Bitcoin's liquidity as well. In other words, Ether's problems are Bitcoin's problems.

I wonder if the funds owned by the ETH developers will be enough to support it any more.

[1Referee]

I wonder if the funds owned by the ETH developers will be enough to support it any more.

Most of the Ether developers are geeks who haven't had a shower in a week and don't need much other than their fierce and loyal commitment.

The difference with projects is that projects need fiat in order to sustain themselves as a business, where keeping all their reserves in Ether has been the biggest mistake of their life. They have jeopardized the future of their existence by not having at least 50% of their assets directly converted to fiat.

Ethereum is close to a 50% loss in value in one single month now, and from its all time high its even 80%. Do you think serious projects will ever burn themselves another time with more regulations being enforced and Ether's value loss in mind? Ether will never be able to replicate its 2017 explosion again.

[Betwrong]

Although Bitcoin has been doing better than others, I don't like the current situation at all because BTC is falling as well. I'm wondering what are the reasons apart from the ETF delays, which imo could not affect the market to such a degree. Just yesterday I read an article saying that the cryptocurrency space has never looked better and that it's surprising that with today's clearly positive developments the price is not going up.

So what's going on, then? Can someone shed light on the issue? Is it possible that the whales, knowing that the price will be rising big starting in October-November, intentionally lower the price (by selling huge amounts) to buy more coins at a certain point?