Bitcoin dominance ruining the market

[idex100]

We are having an unusual market as the market cap continue to slide, Bitcoin dominance on the increase- currently above 52 percent,this has resulted in huge drains on the altcoins, Ethereum for example slid below 300$, This is ruining the market. Is this the new trend in the market?

[DooMAD]

"Ruining the market" sounds like an overreaction.  Are you sure it isn't just ruining the bets you made on certain coins?  Perhaps these coins are just finding their true price and it wasn't as high as you thought it was.  Or maybe this is temporary and they will recover.  Such are the risks you take when you gamble on this stuff.  No one can tell you for sure what's going to happen.  It might be a new trend, or it might change again next week and the picture may look totally different.

Also, it sounds as though you're placing the blame on some non-sentient code.  Keep in mind that it's people making the markets move, not Bitcoin.  Blame the market participants if anything.

[Kuga_ZA]

No, it's the big financial institutions that is playing and manipulating the market currently. They are pressuring people to sell, so they can buy up BTC for cheap. At some point, there will be a bull run. Might be next week, next month, or next year. This is a long term game.

[o_e_l_e_o]

Bitcoin isn't making the altcoins slide. The fact that most altcoins are scams or trash is what is making altcoins slide. Most altcoins don't even have a working product - they aren't worth a thousand dollars, let alone the millions or even billions some of them are valued at.

[pitiflin]

Altcoins have always on the whole followed the BTC price but with higher variance. So if you bought a basket of altcoins, I'd expect it to behave similarly to a leveraged BTC position; when BTC rises, altcoins rise more and the BTC dominance decreases, and when BTC falls, altcoins fall more and the BTC dominance increases.

Read this first.^


And sometimes, market cap is just meant to ignored, and you're ought to focus on how to profit, even in a bearish market. Because one man's loss is another man's profit.(pretty sure I ripped off this saying)

Bitcoin isn't making the altcoins slide. The fact that most altcoins are scams or trash is what is making altcoins slide. Most altcoins don't even have a working product - they aren't worth a thousand dollars, let alone the millions or even billions some of them are valued at.

Bitcoin isn't making the altcoins slide, true but the existence is. People obviously prefer bitcoin to altcoins, so when markets crash, they panic sell everything to bitcoin, "to be on the safer side".

[rosemary4u]

I don't see bitcoin as being responsible for the low turnover on the market. Currently, it is not only the altcoins  that are falling, bitcoin has also suffered some dip in price.

[babarian]

We are having an unusual market as the market cap continue to slide, Bitcoin dominance on the increase- currently above 52 percent,this has resulted in huge drains on the altcoins, Ethereum for example slid below 300$, This is ruining the market. Is this the new trend in the market?

things like this are very common in the crypto currency market, I am not surprised by the current market situation. when the price of bitcoin falls, the price of altcoin is now falling, but this is not the end I believe the price will increase again

[batang_bitcoin]

If your portfolio is full of altcoins that will be your reaction.

Imagine someone says that bitcoin dominance in the market is ruining the market? Maybe you have to consider and start investing to bitcoin.

I don't see bitcoin as being responsible for the low turnover on the market. Currently, it is not only the altcoins  that are falling, bitcoin has also suffered some dip in price.

He only looks at the dominance and blame that the market for altcoins is dropping because of that.

[pooya87]

that is not dominance and the "market" is not being ruined. it was ruined a long time ago when you were allowing centralized shitcoins to stay on top and be pumped while ignoring other real decentralized altcoins with decent developers team get pushed down and be forgotten.
coins like ETH are simply going back to their real values after coming out of their big bubbles. your problem is that instead of listening to the warnings you listened to the hype telling you it will be worth $2500 by the end of 2018 and held on to your bags while losing money. now you will continue to lose a lot more.
and none of this has anything to do with bitcoin.

[freebutcaged]

The only true crypto currency is and will always be Bitcoin, what else did you expect mate? you can't have a bunch of shitcoin

With a high price and get to have a large profit from them while they are all shitcoins. in my opinion Bitcoin is still too weak

Compared to other coins and their market caps, it needs to have a much higher market dominance than it has now right now.

How many mineable coins do we have like Bitcoin with the same algo and mining industry as big as Bitcoin's? whenever you

Could find such a coin, you'll have them competing with Bitcoin. most of them are shit, so don't get too excited.

[meanwords]

I don't think Bitcoin is the reason why cryptocurrency market is slowly falling. Every project has their own supporters and investors so blame it to them. It's not like the people owns every coin and just it once Bitcoin falls. Altcoins falling today just shows correction. It shows the true price of coins as of now. If you have faith in them, you should probably just hold even further and see if it will rise. Bull run is coming this September so you should probably look out for it.

[Rahman11]

"Ruining the market" sounds like an overreaction.  Are you sure it isn't just ruining the bets you made on certain coins?  Perhaps these coins are just finding their true price and it wasn't as high as you thought it was.  Or maybe this is temporary and they will recover.  Such are the risks you take when you gamble on this stuff.  No one can tell you for sure what's going to happen.  It might be a new trend, or it might change again next week and the picture may look totally different.

Also, it sounds as though you're placing the blame on some non-sentient code.  Keep in mind that it's people making the markets move, not Bitcoin.  Blame the market participants if anything.

Yes I think bitcoin always dominance cryptocurrency market so bitcoin not responsible about ruining crypto market. now cryptocurrency market value going down deeply but I think it's turn around in near future.

[jseverson]

Lol what? It's the other way around. The altcoin market crashing is increasing Bitcoin market dominance (which is a useless metric anyway -- nothing more than a ratio of Bitcoin's market cap vs. total market cap). Bitcoin isn't doing shit, evidenced by the absence of a price surge.

This doesn't say anything other than that the altcoin market is underperforming severely compared to Bitcoin, which isn't doing very well either. This could suggest that people would rather dump alts than Bitcoin, which is a perfectly logical step.

[Ozero]

Bitcoin isn't making the altcoins slide. The fact that most altcoins are scams or trash is what is making altcoins slide. Most altcoins don't even have a working product - they aren't worth a thousand dollars, let alone the millions or even billions some of them are valued at.

A significant part of altcoyins are tokens and it is in them that there are working products. They really make our life easier in various branches of our economy. And what is the working product of bitcoin? In the market we need all kinds of crypto-alaite. Of course, a lot has been and will be useless coins and tokens. However, it is the business of the market to leave them or not. This is a natural selection and it should happen without our intervention.

[billygarrison]

We are having an unusual market as the market cap continue to slide, Bitcoin dominance on the increase- currently above 52 percent,this has resulted in huge drains on the altcoins, Ethereum for example slid below 300$, This is ruining the market. Is this the new trend in the market?

This is normal, don't be afraid to buy bitcoin and other altcoins on the market, buy now and wait for the miracle to come to you in the next few months

[Rustamm]

We are having an unusual market as the market cap continue to slide, Bitcoin dominance on the increase- currently above 52 percent,this has resulted in huge drains on the altcoins, Ethereum for example slid below 300$, This is ruining the market. Is this the new trend in the market?

It can not be said that the price dominance of bitcoins is destroyed by the market. The market of the crypto currency is simply not mature, it is not free in price and so far it is only developing. Capitalization bitkoin sooner or later vseravno drop and the crypto currency will then develop freely. Everything has its time.

[ImHash]

It creates markets, Don't be stupid about this, Without bitcoin and it's dominance over the whole cryptocurrencies there is no market, You don't go to exchanges asking for fiat in exchange of your altcoins, You go to exchanges asking for bitcoin.
Which one of the altcoins has fiat volume like bitcoin?

[Garenjohnnytre]

Bitcoin dominance — bitcoin's share of the total cryptocurrency market capitalization — has been in freefall in the second half of this month after hitting year-to-date highs.

[Nowherman]

Bitcoin dominates the crypto market because it has proven its reliability and viability throughout its existence. At the same time, I would not discount altcoins. Despite the fact that they have fallen in price substantially, altcoins are capable of much growth. The current situation in the crypto market reminds me of year 2000, when shares of innovative at that time IT companies also sharply fell in price. For example, Amazon shares in that year fell to $ 2, and now their value is about $ 1,500. I am sure that the crypto market will not collapse, and in 3-5 years the price of the BTC will be $ 100,000.

[tenebriscaelum]

Altcoins have always on the whole followed the BTC price but with higher variance. So if you bought a basket of altcoins, I'd expect it to behave similarly to a leveraged BTC position; when BTC rises, altcoins rise more and the BTC dominance decreases, and when BTC falls, altcoins fall more and the BTC dominance increases.

Read this first.^


And sometimes, market cap is just meant to ignored, and you're ought to focus on how to profit, even in a bearish market. Because one man's loss is another man's profit.(pretty sure I ripped off this saying)

Bitcoin isn't making the altcoins slide. The fact that most altcoins are scams or trash is what is making altcoins slide. Most altcoins don't even have a working product - they aren't worth a thousand dollars, let alone the millions or even billions some of them are valued at.

Bitcoin isn't making the altcoins slide, true but the existence is. People obviously prefer bitcoin to altcoins, so when markets crash, they panic sell everything to bitcoin, "to be on the safer side".

Both staments are true as people tend to overreact if the market suddenly crash, but long time users and enthusiast know that even in the highs and lows of any market what an individual need to do is to focus how to make a profit for him self other than sulking on the status of it.

Also for people who sells alcoins to bitcoin is very much understandable as bitcoin is already established and is much more trusted which can be compared to USD in the stock or forex market which is widely used for transactions.