Very stable BTC dominance

[Sama517]

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?

Bitcoin has always dominated the market right from inception. 53% dominance is no longer surprising. This has always been the range of its fair share in the market. BTC gave birth to every other coin we have today.

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[rickadone]

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.

BTC dominance has been pretty much on that level for a while now. The dump is nothing considering the fact that it was something that hit the whole market generally and not just bitcoin. It was not like bitcoin was dropping and the altcoin market was rising. Bear market as we have all seen it is something that affects the whole market overall when it hits, what we are seeing now is just the statistics based on the market cap over all compared to the rest of the market and the dominance of bitcoin totally depends as well on the sentiments of the market overall and where money is moving into.

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

Maybe you should be reading more on how that dominance is calculated and probably you will figure out the main reason why it has not changed. Bitcoin was not the only coin that dropped, the whole market did, and the dominance of bitcoin is compared generally with the whole market, and the reason why you see the dominance not changing is because money is being moved out from all markets generally, and the percentage of bitcoin in market cap to the total altcoin market cap, simply gives you what the dominance is all about.

[quartzz]

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?

Bitcoin has always dominated the market right from inception. 53% dominance is no longer surprising. This has always been the range of its fair share in the market. BTC gave birth to every other coin we have today.

I never discussed the absolute value of btc dominance (53%). High/low: not my point at all.

My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.

So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know

[BitHodler]

My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.

So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know

It's not too early to explain. The reason BTC's dominance didn't change much is because it tanked in quite a similar fashion as altcoins did. Usually it's BTC down 5%, altcoins down +10%, but the decreases were pretty even this time.

If everything goes down equally, the dominance won't move much at all. In other words, Bitcoin behaved like a shitcoin in the last few weeks. It didn't show anything of its usual strength, it kept tanking like there is no tomorrow.

The most interesting aspect to focus on is whether or not the similarities will be there on the way up as well. If not, it might very well be that altcoins will outperform Bitcoin and drag the dominance below 50% in a quick fashion.

[quartzz]

My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.

So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know

It's not too early to explain. The reason BTC's dominance didn't change much is because it tanked in quite a similar fashion as altcoins did. Usually it's BTC down 5%, altcoins down +10%, but the decreases were pretty even this time.

If everything goes down equally, the dominance won't move much at all. In other words, Bitcoin behaved like a shitcoin in the last few weeks. It didn't show anything of its usual strength, it kept tanking like there is no tomorrow.

The most interesting aspect to focus on is whether or not the similarities will be there on the way up as well. If not, it might very well be that altcoins will outperform Bitcoin and drag the dominance below 50% in a quick fashion.

So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?

[pixie85]

So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?

In the old days people were going from Bitcoin to altcoins because altcoins were offering quick gains. When they were selling they were coming back to Bitcoin. Now people are investing in alts straight with fiat, or going through tether instead of Bitcoin. It doesn't have to be that safe refuge because it's much easier to buy and sell altcoins. It's good for Bitcoin because the more stable it is the better. I'd rather have people buy Bitcoin to own Bitcoin not to do it because they want to invest in altcoins.

[redsap]

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?

well just let see it after holiday session, if the increase of bitcoin is still stable or even be more high to jump back in actual price that was sounds good enough, but i prefer when bitcoin has very stable price rather than violate market. because maybe this is the start of bitcoin to comeback to implement with many big company that provide transaction with bitcoin

[1Referee]

So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?

Bitcoin broke through its yearly support, which resulted in so much panic, that the fierce selling pressure was enough to have BTC almost outperform altcoins in terms of % movement.

Altcoins act like leveraged instruments and exeggerate every movement of BTC, but with so much selling pressure even BTC can't do anything other than go down like 15%. If you also add that there is limited market depth, the price tanks hard, there just isn't a way to put it differently. Bitcoin has to swallow sales from both the altcoin market and its own market, and when both simultaneously pressure BTC, this is what you get.

Is it possible that BCHABV vs BCHSV camps sell BTC to pay their bills? It is, but it goes through BitPay, and they don't sell unless they have no other option.

[farosa]

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?

I don't think there is a lot of big interest changes. Also when the price was 6.5k $, the dominance was around 53%. Even if you can look at it now you can see that the dominance in coinlib.io is 54.26%. I don't think this needs an explanation, even it would be better for us to have lower dominance.

[Olaiasal11]

If we say something about the current market, then we have to look back. You can get ideas about the market from 2009 to 2018. Every time the decrease of btc, its price has increased even more. So we have to be patient. And to get more knowledge about the market.

[Bobby park]

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

If you can see the last months of 2017, October to Nobember is the pumping days of bitcoin but when December comes in, it gradually goes down. In short, it may goes more down in this upcoming month which is December and the market won't recover in this year anymore. 2019 is a prosperous year for bitcoin said by lots of spectators. Well, we will see if it will happen.

[Agapelove]

Bitcoin dominance shows only the proof that cryptocurrency investors believe in bitcoin compared to any altcoin. This is the reason why bitcoin is so stable in terms.of market cap. Altcoins, however, are not that stable in terms of market cap since XRP, ETH, BCH are battling it out.

[ict]

In my opinion. Bitcoin prices have not always been stable since the beginning. this is very difficult to predict because crypto currencies are allied to demand and supply factors. and the majority of crypto assets also have a huge effect on crypto prices. so it is difficult if we say the crypto price is relatively stable when the crypto price is at the level of 6,500 usd

[fasdorcas]

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?

I think it is kinda showing why the altcoin prices are so low even when bitcoin is dropping. The market dominance is the proof that when bitcoin is dropping the price for altcoins drop in bitcoin price as well as usd price (indirectly because of bitcoin price drop) so it does a double dip instead of single dip like bitcoin.

Bitcoin only goes from 6500 dollars to 4300 dollars or whatever and that's one dip, ethereum for example drops in price against bitcoin, it also drops in price because bitcoin drop, which makes it go even further down which it really doesn't have to because nothing major happened in ethereum to make it fall at all. Bitcoin dominance is exactly the reason why we should be focusing on altcoins instead of bitcoin during the bear market season so when things go back up we could have bigger profits.

[mensahkkofie]

It is too early to decide about this, I believe we need some more time maybe two months to see how stable it is. Basically, bitcoin has been much stable than most altcoins in recent times. So in all, bitcoin is doing better than most cryptocurrencies.

[Dodoymabs]

BTC will always give us unexpected surprises which it is occasionally happens. It will always teach us that anything could be possible and as a reference of most altcoins, its value is always vital.

[Silberman]

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?

It is difficult to interpret the meaning of this but when the price goes down altcoins tend to lose more money than bitcoin because they are even more unstable, but the bitcoin dominance is remaining close to where it was, this tells me that most likely when we see a recovery we are going to see the alts growing faster than bitcoin and reducing that huge dominance a little bit.

[quartzz]

Somebody made a point that the new deal is since dec 2013 crash are the stable coins pegged on dollars, which might get the role "refuge" when tanking at the expense of BTC, hence the stable dominance.
That point seems a good one to me

[kavindra]

I didn't think that the price movement of BTC is stabilizing, indeed the price was down for recent couple of weeks. Every one is free to make an interpreting or statement about the price of bitcoin, but for me bitcoin will never be stable even though we see the chart is not significantly move. It doesn't mean that the price is table as real currency. Because stable is the opposite of crypto currency principle.

[quartzz]

I didn't think that the price movement of BTC is stabilizing, indeed the price was down for recent couple of weeks. Every one is free to make an interpreting or statement about the price of bitcoin, but for me bitcoin will never be stable even though we see the chart is not significantly move. It doesn't mean that the price is table as real currency. Because stable is the opposite of crypto currency principle.

The price of BTC was never the question of this topic.

I can't believe how many people reply off-topic, I probably was not clear in my original post