Soots
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August 28, 2018, 07:59:47 PM |
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BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run? And how high have you seen it go?
In reality bitcoin dominance is much greater than coinmarketcap shows. A lot of alts have artificially inflated caps, it will go away soon. Many projects will fail. I think that this statements is closely related to what's been goin on with the reality right now mate, and some of the projects which I've been part of were really failing. We need to be more vigilant in picking up those new projects which you wanted to be part of, whether its a bounty campaign or being an investor for the ico project. Probably those artificial inflated market caps, was their fishy strategy that has been detected by investors who happens to pull out their asset by dumping it all the way and suddenly fall down bitcoin's price value to the dipped scenario.
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aoluain
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August 28, 2018, 10:22:53 PM |
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Well a lot of alts will die off for sure and the old reliables will still be utilised like ethereun, litecoin, dash, monero, zcash and ripple so bitcoin dominance will never be as high as a lot of people think.
My guess is about 60 to 70% max.
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timerland
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August 29, 2018, 08:11:32 AM |
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BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run? And how high have you seen it go?
The bitcoin dominance index has pretty much hung around 70-90% for the majority of its life, before the bull market of 2016-2017 that saw a lot of smaller projects, ICOs, and altcoins enter into the space of cryptocurrency. I think that as long as these crypto projects attracts investors, bitcoin dominance will remain low. However, within the bear market where interest in the market is quite low, it wouldn't be surprising if it went as high as 60-70%, without a bull market. I don't think that bitcoin dominance really has anything to do with how bitcoin is performing, though. It's about how much hype is around new projects. I do think that in the long run, we'll see a gradual return of bitcoin dominance to its previous highs, as people start to realize how pointless most of these new projects entering are.
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zazarb
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August 29, 2018, 09:10:40 AM |
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Bitcoin name has strong recognition., many new people even can't say difference between Cryptocurrency and Bitcoin. For my opinion Bitcoin will be like a counterweight to other cryptocurrencies and perfect place in for him is about 70% - 80% of market. I am sure he come back in this area.
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iv4n
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August 29, 2018, 09:13:11 AM |
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BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run? And how high have you seen it go?
The bitcoin dominance index has pretty much hung around 70-90% for the majority of its life, before the bull market of 2016-2017 that saw a lot of smaller projects, ICOs, and altcoins enter into the space of cryptocurrency. I think that as long as these crypto projects attracts investors, bitcoin dominance will remain low. However, within the bear market where interest in the market is quite low, it wouldn't be surprising if it went as high as 60-70%, without a bull market. I don't think that bitcoin dominance really has anything to do with how bitcoin is performing, though. It's about how much hype is around new projects. I do think that in the long run, we'll see a gradual return of bitcoin dominance to its previous highs, as people start to realize how pointless most of these new projects entering are. Exactly, bitcoin dominance doesn`t mean much, it`s just a marketcap crap. Anyone can make some token, blow the price up and rise market cap, in the same time lower bitcoin dominance. What people should look is trading volume, bitcoin is on top everywhere, while some tokens have daily trading volume couple thousand dollars. Its not a game changer if dominance rise or drop, I don`t know who pay attention on that. I don`t know can anyone find more info about that statistic somewhere else or just on coinmarketcap site. And who knows history of that site knows that they have been accused for messing with numbers couple times in the past.
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Showmethebtc
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August 29, 2018, 09:22:31 AM |
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It's hard to predict how much these coins will go up in the current market, but we can trust Bitcoin, and its price has started to rise slowly!
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Whosdaddy
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August 29, 2018, 06:18:19 PM |
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I still believe a whole lot of altcoins will be taking a huge drop in price before the end of the year and so many even packing their shit base out of the market.
The bitcoin market dominance shows a lot of smart moneys are moving in the market with the hope of long investment, but can we really say that means so much considering this is something that can still change if we start seeing some bullish activities on altcoins ?
I don't know, but I feel we are laying so much emphasis on this dominance too much, but in the real sense, it is all just based on how the market is responding since virtually most traders are looking to make money from all markets.
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chulos
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August 29, 2018, 10:01:32 PM |
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Bitcoin's dominance is growing, and i think it's a good signal. It signals that the market is recovering. I do not know exactly how much the dominance of the bitcoin market can reach. When bitcoin dominates, it means human faith in bitcoin, i'm convinced that for the whole crypto world it's just good.
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ASHLIUSZ
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August 29, 2018, 10:29:24 PM |
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Bitcoin dominance went closer to the 55% and by that time the altcoins along with the tokens were experiencing a massive decline as majority of the users pulled their altcoin holdings and placed on bitcoin. Over the past few years when there is higher bitcoin dominance the growth will be big with bitcoin. This time too can expect the similar thing as altcoins haven't started to head up.
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BitHodler
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August 29, 2018, 11:48:59 PM |
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Bitcoin's dominance is growing, and i think it's a good signal. It signals that the market is recovering.
How does an increasing Bitcoin market cap dominance signals a recovery? It really doesn't. Bitcoin's dominance has been increasing on the way down and will decrease on the way up with how altcoins always pump harder. It's better for people to ignore what the dominance percentage of Bitcoin is. It's flawed and doesn't indicate anything other than underperforming altcoins. I expect the dominance to drop back to 40% during the next strong rally. The short term demand for altcoins shouldn't be underestimated. Bitcoin's higher price scares off people and for that reason go with much cheaper alternatives which also happen to be more profitable.
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BSV is not the real Bcash. Bcash is the real Bcash.
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cellard
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August 30, 2018, 05:43:25 PM |
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BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run? And how high have you seen it go?
The bitcoin dominance index has pretty much hung around 70-90% for the majority of its life, before the bull market of 2016-2017 that saw a lot of smaller projects, ICOs, and altcoins enter into the space of cryptocurrency. I think that as long as these crypto projects attracts investors, bitcoin dominance will remain low. However, within the bear market where interest in the market is quite low, it wouldn't be surprising if it went as high as 60-70%, without a bull market. I don't think that bitcoin dominance really has anything to do with how bitcoin is performing, though. It's about how much hype is around new projects. I do think that in the long run, we'll see a gradual return of bitcoin dominance to its previous highs, as people start to realize how pointless most of these new projects entering are. Exactly, bitcoin dominance doesn`t mean much, it`s just a marketcap crap. Anyone can make some token, blow the price up and rise market cap, in the same time lower bitcoin dominance. What people should look is trading volume, bitcoin is on top everywhere, while some tokens have daily trading volume couple thousand dollars. Its not a game changer if dominance rise or drop, I don`t know who pay attention on that. I don`t know can anyone find more info about that statistic somewhere else or just on coinmarketcap site. And who knows history of that site knows that they have been accused for messing with numbers couple times in the past. Unfortunately people seem to be paying a lot of attention to this indicator, and if a lot of people pay attention to an indicator, it eventually becomes a relevant one because behind a lot of people there is a lot of money. Even if we are talking noobs playing with mom's payday to trade altcoins against bitcoin, the sum of it all is a respectable amount, there are a lot of people trying to find the next x1000'er. And im sure there is people with a lot of money that also fall within this group. Having a lot of money doesn't mean they suddenly know where to invest. As with everything in life, most lose, but as long as the hope is there, there will be money in altcoin market and the indicator will be below 80% (where it should be naturally) A good article on the dominance indicator and why it's so wrong: https://medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4
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1Referee
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August 30, 2018, 08:50:20 PM |
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Unfortunately people seem to be paying a lot of attention to this indicator, and if a lot of people pay attention to an indicator, it eventually becomes a relevant one because behind a lot of people there is a lot of money.
I noticed that with CMC's exchange volumes lately. It seems that exchanges are desperately looking to artificially inflate their volumes to occupy a higher CMC rank in an attempt to attract more users. If you look at the traffic stats of the more popular exchanges, then you'll see that in most cases CMC is the second after Google when it comes to exchange linking. In case of OKEx and Huobi, wich are the most manipulative exchanges when it comes to volumes, CMC is even the main traffic provider, which pretty much explains why they are trying to keep their volumes as high as they have it right now. In other words, CMC has more power than most people here think.
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