quartzz (OP)
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November 23, 2018, 02:15:36 AM Last edit: December 08, 2018, 12:54:32 PM by quartzz |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
/edit: details Since september Bitcoin went from $6500 to $5500 Then 5500 to 4200 Then 4200 to 3700 Then 3700 to 4300 Then 4300 to 3300
BTC and the whole cryptomarket are falling absolutely proportionately. It remains at 53% Previously it wasn't the case. Dec 13 it fell from 96% to 87%. Strong movements in the markets pretty much always translated in a different dominance afterwards.
Note that the absolute value of btc dominance (53%), high/low, is not my point at all. Also speculations on BTC aren't the point, it's only about understanding the current stability of btc dominance, if it has any meaning.
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marcelocoin
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November 23, 2018, 03:36:29 AM |
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be too early for speculation, I hope that after the holiday season, bitcoin will recover, I do not think it's a lot but at least 30% of this year's fall
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quartzz (OP)
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November 23, 2018, 03:45:05 AM |
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But it's been already a couple of days that the dump initiated and dominance hasn't change. In the past, it used to change as the dump starts
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haroldtee
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November 23, 2018, 07:19:46 AM |
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But it's been already a couple of days that the dump initiated and dominance hasn't change. In the past, it used to change as the dump starts
Get to know how dominance is calculated first and you will have a better clue why it has not changed much. BTC Dominance (%) = (Bitcoin Market Capitalization / Total Market Capitalization) * 100
Now, you have to understand that money left the whole market and not just bitcoin. We saw every other coin moved accordingly as their value decreased, so in a way, when it comes to dominance, nothing has changed. You will get to figure that out the more this way; if money is leaving altcoins into bitcoin which pretty much will show you a bullish bitcoin and bearish altcoins, BTC dominance increases and it happens the other way round as well.
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davis196
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November 23, 2018, 07:36:22 AM |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
The so called "bitcoin dominance" doesn't matter at all to me.If the bitcoin price crashes to around 1000 USD,but the bitcoin dominance reaches 90%,would you be happy?It's normal for bitcoin to "dominate" all the other cryptos in a bear market.In a bull market,the bitcoin market cap will decrease to under 50% of the total crypto market cap.
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nur rochid
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November 23, 2018, 07:44:53 AM |
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be too early for speculation, I hope that after the holiday season, bitcoin will recover, I do not think it's a lot but at least 30% of this year's fall
indeed it's all our hope, to see bitcoin bullrun. I think recover 30% is good for this year, considering that until the end of November the bear market is still continuing, hopefully in December it will be fulfilled
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imToken
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November 23, 2018, 07:47:35 AM |
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Are you sure that your information is true, not false? Bitcoin has been stable for two months, but now you don't know what the price is? Bitcoin has nothing to do with stability. If Bitcoin is now stable, the entire cryptocurrency market will end.
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Baofeng
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November 23, 2018, 09:17:06 AM |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
The simple explanation is that all coins are also moving down, so obviously the dominance will not change a bit. Yes it could have a impact but its a bad indicator to say the least. There were times that bitcoin's dominance is less than 50% and yet the price is almost at all-time-highs.
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quartzz (OP)
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November 23, 2018, 03:52:16 PM |
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Are you sure that your information is true, not false? Bitcoin has been stable for two months, but now you don't know what the price is? Bitcoin has nothing to do with stability. If Bitcoin is now stable, the entire cryptocurrency market will end.
I don't think you read my post, or get my point
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quartzz (OP)
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November 23, 2018, 04:03:57 PM |
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My point was simply: BTC and the whole cryptomarket are falling absolutely proportionately. It remains at 53% Previously it wasn't the case. Dec 13 it fell from 96% to 87%. Strong movements in the markets pretty much always translated in a different dominance afterwards.
The fact that it isn't the case this time might mean something, always I'm not sure what. And maybe not.
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EllieBasti05
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November 23, 2018, 04:15:26 PM |
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I think it is currently stable as of now because we dont know what will happens next. All cryptocurrencies experiences fluctuation because of people are more into trading thats why prices drops. Lets wait if bitcoin will recover or have another bull run this year.
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xingqiaoyin
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November 23, 2018, 04:51:17 PM |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
jimmy song said .. the real innovation is bitcoin ... i guess that's that.
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jrrsparkles
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November 23, 2018, 05:02:48 PM |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Which is a sign that most of the investors lost their faith in the altcoins and just keep focusing on bitcoin and about the future of prices.By the way the dominace has no real value for bringing the bull run to the market,the bull run will happen only when increase in the cap values in the considerable amount.
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dothebeats
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November 23, 2018, 06:35:47 PM |
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During bear markets, there are times when bitcoin dominance falls due to the uncertainty surrounding the market. It is the nature of people to avoid traversing an uncertain path and take those that are relatively safe, and this is what's happening in bitcoin and other alts for some time. However, we can't argue the fact that there are still a lot of people eyeing bitcoin and trading it, hoping to make a hefty profit out of the mess, and positive news is also helping these traders to trade against the tides hoping that it will soon change, hence the unchanged bitcoin dominance %.
While I think bitcoin dominance isn't really that important, it helps us gauge the interest of the market over a certain coin, and to see whether it has swayed over to another coin or not to help us decide which crypto is to trade in a specific time-frame. On bear markets, it rarely changes, as a large percentage of traders still want to hold bitcoin and trade it compared to other coins.
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lolland
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November 23, 2018, 07:18:14 PM |
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I’m very surprises that the Bitcoin dominance has been so stable. The dominance of Bitcoin should have gone up by now, but I think a lot of traders have sold Bitcoins into stabile coins. History has showed us that most Altcoins in top 20 getting changed every 2-3 years, only Bitcoins really stays up there. I still think that the market are waiting for a far greater Bitcoins dominance, before the new Bull Run can start.
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Halmater
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November 23, 2018, 07:26:52 PM |
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Right now, "bitcoin dominance" doesn't matter so much. If price of bitcoin drops others follow it, vice versa. It is a indicator for crypto market and determines where crypto market goes. There is no need to say more about it.
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kryptqnick
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November 23, 2018, 08:14:02 PM |
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Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Easy. If you take a look at historical snapshots on coinmarketcap and pay attention to prices and btc dominance, you'll notice that since bitcoin's creating the dominance has been mainly going down as the market was growing. When bitcoin's price gets higher, people start believing more in other coins as well, they think of it as of a great time to invest. Thus, the dominance goes down. If, on the other hand, things get bad and we have a bearish market, people sell all of their coins and transfer some of these funds into bitcoin. Some of them tend to think that even if the market crushes, the king will still be there. We tend to care more only about bc when things get bad, so we see how much marketcap it loses. However, other cryptos lose even more and thus btc dominance level is very high.
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cellard
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November 23, 2018, 08:18:23 PM |
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Dominance is actually going up, we are now at %54.1 which is pretty decent, but there's a long road to %80 where it should be. The only reason we saw all time lows for Bitcoin was due Ethereum pump, a lot of noobs into crypto were looking for "Bitcoin 2.0" and Ethereum sold itself good as "the next big thing". Of course we know is a scam but dumb money doesn't. That Ripple pump was pretty dumb, then we have the forkcoins taking an misleading amount of marketcap.
We also had panic moments on Bitcoin during the segwit drama, then the segwit2x drama, and the bcash drama as well. These events made many people put their money into altcoins temporarily thinking it would retain value there.
Long term Bitcoin must go towards %80 due Paretto law distributions and given all of these altcoins aren't solving any fundamental problems Bitcoin could have.
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Slow death
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November 23, 2018, 09:51:35 PM |
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The so called "bitcoin dominance" doesn't matter at all to me.If the bitcoin price crashes to around 1000 USD I agree
The altcoins do not have a great use in real life, if the altcoins had practical use in real life then the dominance of bitcoin would be much smaller and the falls of prices of bitcoin would not affect much the altcoins, but the reality is that the altcoins are focused on solving the problems of the internet, nothing against this, but there are already over 2000 altcoins and more than 80% of these altcoins have the same purpose
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