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Author Topic: If BTC Dominance will drop to 40%, what will happen?  (Read 17314 times)
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March 19, 2019, 03:37:43 AM
 #1

I noticed that if BTC has a big dominant rate the entire crypto is bad, in short it looks bullish.
Though the rate now is very consistent to 50% and above, what do you think will happen to the market if it will drop that low.

Will this gives a bad or good effect to BTC and Altcoins?




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March 19, 2019, 04:11:32 AM
Merited by Sanitough (2)
 #2

what people mistakenly call "dominance" is market capitalization ratio and if bitcoin's MCR drops to 40% or even 1% absolutely nothing will change because market cap is meaningless when it comes to altcoins specially when there is nearly 3000 of them producing useless tokens with a click of a button.

if bitcoin real dominance drops to 40% then it shows that bitcoin has lost the market to competition BUT so far bitcoin dominance is nearly 100% and we have a long way to go before even getting close to 50% let alone 40% and there is no competition so far.

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March 19, 2019, 04:36:56 AM
Merited by Sanitough (2)
 #3

if bitcoin real dominance drops to 40% then it shows that bitcoin has lost the market to competition BUT so far bitcoin dominance is nearly 100% and we have a long way to go before even getting close to 50% let alone 40% and there is no competition so far.
The marketcap is the only basis when I tried to analyze things, I'm really as good as other traders who very smart with their TA.
I noticed that during the bull run, the marketcap showed BTC dominance of only 40% or over and the market really looks good at that point.
So, in case it will drop again, it should mean a good price for every coins.

Note : during the last bull run, even shitcoins made a rally also, so it could happen again IMO.




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March 19, 2019, 04:37:32 AM
 #4

If we're talking about fundamentals, then nothing. If were talking about the markets, it just means that people are allocating more of their BTC to other coins/tokens. If I remember correctly, bitcoin having lower market dominance(based on the marketcap statistic) occurs mostly in bull markets. For the answer though, I think it's pretty much neither good or bad.

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March 19, 2019, 04:44:56 AM
 #5

When there is drop in the dominance of bitcoin, in one way or other some other altcoins is getting its increase in the dominance level. This is a form of loss in strength, automatically there'll be some impact on the price if such scenario exist. When ethereum dominance increased nearing to bitcoin the growth was tremendous with ethereum.

 
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March 19, 2019, 05:04:01 AM
 #6

If I remember correctly, bitcoin having lower market dominance(based on the marketcap statistic) occurs mostly in bull markets.

Thats mostly the case. People tend to diversify their investments to alts that has of low value than Bitcoin. Although, It may drag down some of its percentage but It doesnt really affect Bitcoin's dominance too much though.



Note : during the last bull run, even shitcoins made a rally also, so it could happen again IMO.


True that, I even made a hundred dollars out of shitcoin during that time.
 


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March 19, 2019, 05:05:08 AM
 #7

I noticed that if BTC has a big dominant rate the entire crypto is bad, in short it looks bullish.
Though the rate now is very consistent to 50% and above, what do you think will happen to the market if it will drop that low.

Will this gives a bad or good effect to BTC and Altcoins?
The price changes that occur in Bitcoin will definitely have a major impact on the sustainability of the crypto financial system.
this is because Bitcoin has a very large market share so anything that happens to Bitcoin will definitely have an overall impact.
And vice versa when Bitcoin gets great support, it will make the crypto market even more attractive.
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March 19, 2019, 05:37:03 AM
 #8

Bitcoin dominance dropping only means the markets of the other coins are rising faster than Bitcoin. More people are buying altcoins than Bitcoin itself. It doesn't mean there are less buyers of BTC, just more buyers of altcoins.


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March 19, 2019, 05:38:14 AM
 #9

BTC Dominance statistics are useless and no indication of it's position against other Alt coins. Currently https://coinmarketcap.com/ shows BTC Dominance at 50.8%  Roll Eyes

The Total Market Cap = $139 518 645 935 and Bitcoin is currently at $70 913 330 285 with it's closest competition, Ethereum at $14 683 840 325. <Even the Market Cap statistics are crap, because it is not a true reflection of the situation>  Roll Eyes  

Bitcoin BTC is still on the top, and this is good for all other Alt coins. <If the strongest crypto currency fails, then the rest will follow.>  Angry
 

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March 19, 2019, 05:45:51 AM
 #10

People have already covered why it's a meaningless metric, but to give you a better idea what would happen, look up stats from late January 2018.

According to this site, it went as low as around 32% in that period.

Spoiler alert: there wasn't anything special happening. The alt market was just staying strong while Bitcoin was reeling from a furious bull run.

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March 19, 2019, 05:46:12 AM
 #11

If it drops to 40% then it should have a domino effect in the market along with the altcoins. If you notice in the last bull run, major altcoins gain a significant amount of value along with bitcoins bull run but after that when bitcoins price start to decline altcoins took a huge blow.

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March 19, 2019, 05:50:57 AM
 #12

what people mistakenly call "dominance" is market capitalization ratio and if bitcoin's MCR drops to 40% or even 1% absolutely nothing will change because market cap is meaningless when it comes to altcoins specially when there is nearly 3000 of them producing useless tokens with a click of a button.

if bitcoin real dominance drops to 40% then it shows that bitcoin has lost the market to competition BUT so far bitcoin dominance is nearly 100% and we have a long way to go before even getting close to 50% let alone 40% and there is no competition so far.
Although I believe that what you said is true, dominance is an excellent gauge of price forecasting. As it represents trust in Altcoins which means more people are ready to enter the market.
The greater BTC's dominance, the less trust in altcoin, and consequently the market's cap will be lower and vice versa.
Note that this is one indicator and there may be other factors influencing the price but in general it does not mean much.

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March 19, 2019, 05:53:34 AM
Merited by Kelvinid (1)
 #13

If it drops to 40% then it should have a domino effect in the market along with the altcoins. If you notice in the last bull run, major altcoins gain a significant amount of value along with bitcoins bull run but after that when bitcoins price start to decline altcoins took a huge blow.
There is a good result for uptrend because all coins are increasing in value.
We don't have to wait before it will dump because the moment it will start a bull run, we can always sell and take profit.
This market's trend has never change yet, there are sudden changes in the market, bad or good and therefore traders needs to learn the timing.

 
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March 19, 2019, 05:54:53 AM
 #14

I noticed that if BTC has a big dominant rate the entire crypto is bad, in short it looks bullish.
Though the rate now is very consistent to 50% and above, what do you think will happen to the market if it will drop that low.

Will this gives a bad or good effect to BTC and Altcoins?

There's no competition between btc and altcoins.In most cases,you have to buy bitcoin,in order to buy altcoins,so they are tied together.Every time there is a new crypto bubble,the altcoin prices rise higher,compared to the bitcoin price,which means that bitcoin "loses market share" compared to all other altcoins,but that doesn't mean anything at all.It's just a price bubble.

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March 19, 2019, 05:56:02 AM
 #15

I think if bitcoin  dominance will drop to 40% it will be bad for bitcoin itself because maybe price will go down,but in that scenario altcoins specially big alt coins will more likely gonna pump and gain price untill bitcoin can recover

 
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March 19, 2019, 05:57:54 AM
 #16

I think that it is good for both, both altcoins and bitcoin. It's because last December 2017, that was the biggest dominance of bitcoin in history. It's about 60 to 70% up. But what happened to other coins? It goes up as well. This simply means that alts are just following bitcoin and if bitcoin rises up, they rise too. But if bitcoin does fall, they also fall. It's just a domino effect with cryptocurrencies.

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March 19, 2019, 06:07:04 AM
 #17

Some altcoins have a huge supply and at the same time low trading volume which is giving us an impressive market cap that will be useless and should decrease very fast if some small part of holders sells their shitcoins. In case with BTC we have more mature market and and a good quality coin. To compete with it altcoins have to become less speculative and have at least some usage for its users.
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March 19, 2019, 06:49:09 AM
 #18

Some altcoins have a huge supply and at the same time low trading volume which is giving us an impressive market cap that will be useless and should decrease very fast if some small part of holders sells their shitcoins. In case with BTC we have more mature market and and a good quality coin. To compete with it altcoins have to become less speculative and have at least some usage for its users.

With that, it makes BTC total dominance rate undervalued.
It should be higher than the current rate now, maybe around 80% if we exclude the high supply shitcoins now that has no volume.

But let me check if it's really true, currently sorting now the list in coinmarketcap and it shows.




Looks like not all high supply coins has a good marketcap and therefore shitcoins might not affect the accurate of the entire marketcap.


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March 19, 2019, 07:02:07 AM
Merited by Kasabus (1)
 #19

if bitcoin real dominance drops to 40% then it shows that bitcoin has lost the market to competition BUT so far bitcoin dominance is nearly 100% and we have a long way to go before even getting close to 50% let alone 40% and there is no competition so far.
The marketcap is the only basis when I tried to analyze things, I'm really as good as other traders who very smart with their TA.
I noticed that during the bull run, the marketcap showed BTC dominance of only 40% or over and the market really looks good at that point.
So, in case it will drop again, it should mean a good price for every coins.

Note : during the last bull run, even shitcoins made a rally also, so it could happen again IMO.

"analyzing" market cap does NOT give you any information! and it is not even a part of Technical Analysis!

during the last bull run altcoin pumping spree, bitcoins market cap went to 40% of the total because bitcoin had 17 million coins in circulation while there were 2400 altcoins and tokens each with at least 1 billion tokens in circulation. I once calculated these ratios, it was about bitcoin having 40% of the market cap while only having about 0.001% of the total supply!

if we exclude the high supply shitcoins now that has no volume.
you should not exclude coins just because they have high supply, you should focus on removing the premine from them. for example if you remove the premine of the coins on top (ETH, XRP,...) then you can see their market cap comes closer to reality when it drops about 80%.

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March 19, 2019, 07:08:12 AM
 #20

if total marketcap is rising and bitcoin dominance is dropping, its good for altcoins.but if they are dropping its the worst for market. cryptomarket will be healthy when altcoins doesnt move according to btc.

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