Bitcoin dominance hits 43%, alts surging ahead

[windjc]

OK.. When Bryant Coleman posted the last update, the Bitcoin dominance was around 64.5%. And within one week, this figure has come down to 61.8%. And the most surprising thing is that most of the market share that Bitcoin lost, has gone to altcoins such as Ethereum and Ripple. Who would have expected this? ETH was trading at BTC0.018 a few weeks back. And now it is trading at BTC0.026. The same with XRP as well (2,500 Sat to 3,200 Sat).

I would have expected it. Large market cap altcoins will preform better over time than most small ones. Pretty simple. No surprise at all. The large ones are more liquid, with more institutional investors and larger communities of supporters and evangelicals.

[1714143146]

1714143146

[bryant.coleman]

Ever since this thread was created, the Bitcoin dominance has dropped by close to 10 points. And back then, a lot of us were predicting it to go further up.

Total market cap: $278,008,264,439

Bitcoin: $175,340,777,522 (63.070%)
Bitcoin forks: $12,104,644,858 (4.354%)
Stablecoins: $5,426,512,841 (1.952%)
Altcoins: $85,136,329,218 (30.624%)

This is the change compared to my last post:

Bitcoin: -1.421%
Bitcoin forks: -0.710%
Stablecoins: -0.059%
Altcoins: +2.190%

Cryptocurrency market is changing like crazy.. Bitcoin dominance has fallen by almost 2% during the past two days. Altcoins (especially ETH, XRP and LTC) have gained market share.

Total market cap: $270,565,158,535

Bitcoin: $174,492,458,839 (64.492%)
Bitcoin forks: $13,702,016,703 (5.064%)
Stablecoins: $5,440,261,471 (2.011%)
Altcoins: $76,930,421,522 (28.433%)

This is the change compared to my last post:

Bitcoin: -1.290%
Bitcoin forks: +0.056%
Stablecoins: -0.269%
Altcoins: +1.503%

[exstasie]

Ever since this thread was created, the Bitcoin dominance has dropped by close to 10 points. And back then, a lot of us were predicting it to go further up.

The old market adage "the crowd is usually wrong" comes to mind.

I think ALT/BTC pairs are consolidating for one more leg up in early March before halving driven hype drives everything back into BTC.

[Febo]

bitcoin dominance is now reduced and is at 63%, yep that's very good, this indicates that altcoin season is coming soon, it's not wrong to buy the top 10 coins now, hopefully altcoin season will soon make a new history again

It is not reduced. It was 62% few days ago and now grew to 65%.   Bitcoin dominance is growing again. I suspect this to keep going until price of Bitcoin will not start growing again.

[Vishnu.Reang]

bitcoin dominance is now reduced and is at 63%, yep that's very good, this indicates that altcoin season is coming soon, it's not wrong to buy the top 10 coins now, hopefully altcoin season will soon make a new history again

It is not reduced. It was 62% few days ago and now grew to 65%.   Bitcoin dominance is growing again. I suspect this to keep going until price of Bitcoin will not start growing again.

We are in a state of flux. The last time I checked, the Bitcoin dominance was 63.8% and it is hovering between 62% and 65%. The altcoins have managed a major comeback, after getting pushed in to a corner as a result of the rising Bitcoin market share. Many of the top altcoins have gained as much as 30% during the last few months. However, a plateauing has occurred and I don't expect a further rise very soon.

[thirdlight]

bitcoin dominance is now reduced and is at 63%, yep that's very good, this indicates that altcoin season is coming soon, it's not wrong to buy the top 10 coins now, hopefully altcoin season will soon make a new history again

I think that 63% of the market dominance is still a lot to happen alt season, you need to reduce the Bitcoin dominance to at least 50%.

[bryant.coleman]

Prices are down by 15% across the market. Market share remains unchanged.

Total market cap: $231,021,985,291

Bitcoin: $147,679,095,924 (63.924%)
Bitcoin forks: $8,891,932,125 (3.849%)
Stablecoins: $5,455,532,122 (2.361%)
Altcoins: $68,995,425,120 (29.865%)

This is the change compared to my last post:

Bitcoin: +0.854%
Bitcoin forks: -0.505%
Stablecoins: +0.410%
Altcoins: -0.758%

Ever since this thread was created, the Bitcoin dominance has dropped by close to 10 points. And back then, a lot of us were predicting it to go further up.

Total market cap: $278,008,264,439

Bitcoin: $175,340,777,522 (63.070%)
Bitcoin forks: $12,104,644,858 (4.354%)
Stablecoins: $5,426,512,841 (1.952%)
Altcoins: $85,136,329,218 (30.624%)

This is the change compared to my last post:

Bitcoin: -1.421%
Bitcoin forks: -0.710%
Stablecoins: -0.059%
Altcoins: +2.190%

[Viscore]

bitcoin dominance is now reduced and is at 63%, yep that's very good, this indicates that altcoin season is coming soon, it's not wrong to buy the top 10 coins now, hopefully altcoin season will soon make a new history again

I think that 63% of the market dominance is still a lot to happen alt season, you need to reduce the Bitcoin dominance to at least 50%.

50% is still a lot, imagine bitcoin moving then the rest of the altcoins will follow. IIRC, the last time there was a bull run, btc dominance dropped to 30%, we should see that again soon, but it will not easily happen, bitcoin needs to be bullish and not moving an unstable price movement like what we are witnessing now, it needs to pump, maybe make a new ATH, then we can expect an altcoin season to come.

[bryant.coleman]

OK guys... here we go with the latest stats.

Total market cap: $185,772,114,091

Bitcoin: $121,679,061,464 (65.499%)
Bitcoin forks: $7,500,910,852 (4.038%)
Stablecoins: $5,746,411,476 (3.093%)
Altcoins: $50,845,730,299 (27.370%)

This is the change compared to my last post:

Bitcoin: +1.575%
Bitcoin forks: +0.189%
Stablecoins: +0.732%
Altcoins: -2.495%

Prices are down by 15% across the market. Market share remains unchanged.

Total market cap: $231,021,985,291

Bitcoin: $147,679,095,924 (63.924%)
Bitcoin forks: $8,891,932,125 (3.849%)
Stablecoins: $5,455,532,122 (2.361%)
Altcoins: $68,995,425,120 (29.865%)

This is the change compared to my last post:

Bitcoin: +0.854%
Bitcoin forks: -0.505%
Stablecoins: +0.410%
Altcoins: -0.758%

[gentlemand]

OK guys... here we go with the latest stats.

Interested to know what effects the shitfork halvings will have. For many of them they're already so piss weak that I wonder how many miners will bother afterwards, and of course some have been fucked with so heavily the halving will arrive much sooner than BTC's. 11 days or so for BCH.

[JayJuanGee]

OK guys... here we go with the latest stats.

Interested to know what effects the shitfork halvings will have. For many of them they're already so piss weak that I wonder how many miners will bother afterwards, and of course some have been fucked with so heavily the halving will arrive much sooner than BTC's. 11 days or so for BCH.

Oh yeah.... Might cause some interesting happenings.. perhaps?

I see those projections for estimated halvenings here @: https://coin.dance/#hashrate

As I type, Bitcoin's halvening is projected to happen in about 44 days & 18.25 hours. 

shitcoin BCH's halvening is projected to happen in about 11.5 days & 16.5 hours

and

shitcoin BSV's halvening is projected to happen in about 13 days & 3.5 hours

[Botnake]

shitcoin BSV's halvening is projected to happen in about 13 days & 3.5 hours

I hope people would not fall for the hype again, I think the timing is really bad so I will not expect that one day I'll wake up seeing BSV pumping over 100%. Not at this time that the market is struggling, bitcoin will remain the King and hopefully the hype for BSV will die soon.

[gentlemand]

I hope people would not fall for the hype again, I think the timing is really bad so I will not expect that one day I'll wake up seeing BSV pumping over 100%. Not at this time that the market is struggling, bitcoin will remain the King and hopefully the hype for BSV will die soon.

For a halving to have an effect you need ongoing demand. It certainly didn't do LTC many favours. I expect the same for that piece of excrement. Since BSV only has one miner at least its hash rate won't collapse like LTC because they don't care about the block reward anyway. The miner will keep it alive no matter what.

[pooya87]

shitcoin BSV's halvening is projected to happen in about 13 days & 3.5 hours

I hope people would not fall for the hype again, I think the timing is really bad so I will not expect that one day I'll wake up seeing BSV pumping over 100%. Not at this time that the market is struggling, bitcoin will remain the King and hopefully the hype for BSV will die soon.

only newbies fall for the "hype" and they lose money all the time. not to mention that they don't shape up that big a percentage of the market. what the rest (day traders) care about is their profit and they only get involved if shitcoins start being pumped.
considering the fact that BSV has a small market and it is completely centralized with owners that rely on the price to be pumped if they want to stay relevant and not get 51% attack due to lack of hashrate they will try to pump it.
which is why i don't think BSV would die anytime soon because pump and dump shitcoins are the love of day traders.

[Arkann]

The fact is that cryptocurrency today is very actively discussed in society, because in reality, interest in a digital asset has genuinely become high since the time of 2017.  I believe that the attitude to cryptocurrency today is changing for the better and attracts more and more users and investors.  Based on this, I am not surprised that Bitcoin has too much a percentage of the total cryptocurrency trading volume in the cryptocurrency market compared to previous years.  In addition, less and less negative news is beginning to affect the cryptocurrency market and I am sure that no one will ban or oppose Bitcoin.
I believe that it will be much more reasonable to support the business and control the cryptocurrency turnover, because the system already exists on the Internet and it cannot disappear anywhere.  I believe that all economic and state structures have the only way out: to support bitcoin and not have a negative impact on the financial system.

[JayJuanGee]

The fact is that cryptocurrency today is very actively discussed in society, because in reality, interest in a digital asset has genuinely become high since the time of 2017.  I believe that the attitude to cryptocurrency today is changing for the better and attracts more and more users and investors.  Based on this, I am not surprised that Bitcoin has too much a percentage of the total cryptocurrency trading volume in the cryptocurrency market compared to previous years.  In addition, less and less negative news is beginning to affect the cryptocurrency market and I am sure that no one will ban or oppose Bitcoin.
I believe that it will be much more reasonable to support the business and control the cryptocurrency turnover, because the system already exists on the Internet and it cannot disappear anywhere.  I believe that all economic and state structures have the only way out: to support bitcoin and not have a negative impact on the financial system.

I think that i understand what you are saying and I am tending to agree with some of your overall point; however, I remain a bit confused regarding your own use of the term cryptocurrency and bitcoin, and frequently, I believe that there is a need to really make it clear what you are talking about when you juxtapose those two terms - especially when attempting to speak macro-economically and trying to assert what kind of influence bitcoin has on the overall space even in terms of possible regulatory attempts or even acceptance.

Yeah, I know that the terms of bitcoin and cryptocurrency are really ongoingly convoluted in mainsteam discussions too, but seems to me that mere ongoing sloppiness in the mainstream does not justify ongoing sloppiness in our attempts at discussing the matter.

Of course, we can disagree too in regards to what role various other cryptocurrencies might have, too, and sure part of this thread at least seems to be attempting to find some kind of meaning in bitcoin's dominance as compared to other categories of coins... while each of us can draw differing meanings from that.. and my own perception continues to be that all the other coins (besides bitcoin) are shitcoins and scams, yet they may still lend to bitcoins credibility, cover and even sometimes serve some useful purposes in terms of experiments that are run, frequently at the expense of people who consider that the various other shitcoins have some kind of independent value or they could survive for any meaningful or sustainable period of time if bitcoin's security were truly jeopardized (the part that many of the shitcoins are sucking off of).

Anyhow, maybe my own post here is devolving into a similar level of confusion, yet largely I am trying to suggest that even though dynamics happening in shitcoins and dynamics in bitcoin are related, it is frequently better to be clear when talking purely about bitcoin, and then at least attempting to specify what you mean by crypto, when you employ that term... because governments ability to control bitcoin is likely to be quite different from bitcoin and with the passage of time, the existence of coins other than bitcoin will likely evolve and we might see if any of them actually has some meaningful use case besides merely scamming people or just being experiments that end up getting absorbed into bitcoin as merely a sidechain or something like that.

[Smitty Werben Man Jensen]

Altcoin is trying to survive now, despite the high dominance of Bitcoin, I still see Altcoin still staying at the support level, and it looks strong, I'm sure altcoin this time will withstand Bitcoin when the dump occurs

[JayJuanGee]

Altcoin is trying to survive now, despite the high dominance of Bitcoin, I still see Altcoin still staying at the support level, and it looks strong, I'm sure altcoin this time will withstand Bitcoin when the dump occurs

Your ideas are pretty vague, including presuming to know which way matters are going to play out.

Surely, the overall macro systems do not look too good right now, so their does seem that macrosystems are likely to have more dumps which would likely affect both bitcoin and altcoins, but I don't really understand how altcoins (aka shitcoins) would fare better than bitcoin in such a dumpening scenario, if the short term BTC price dynamics play out like that.

I will concede, like I mentioned in my earlier post, that in recent times, such as the last 6 months, various altcoins have been holding their ground pretty well compared to bitcoin, and even better than I would have expected in such overall conditions, but all of this remains really difficult to predict how it is going to play out, even though bitcoin likely  remains the conservative favorite, then it is just a matter of if you invest some in shitcoins, which ones, if any, are likely to perform better than others under such conditions.

[bryant.coleman]

These are the latest market shares:

Total market cap: $205,013,186,595

Bitcoin: $130,826,790,740 (63.814%)
Bitcoin forks: $8,189,828,172 (3.995%)
Stablecoins: $7,718,943,612 (3.664%)
Altcoins: $58,277,624,071 (28.527%)

This is the change compared to my last post:

Bitcoin: -1.685%
Bitcoin forks: -0.043%
Stablecoins: +0.571%
Altcoins: +1.157%

OK guys... here we go with the latest stats.

Total market cap: $185,772,114,091

Bitcoin: $121,679,061,464 (65.499%)
Bitcoin forks: $7,500,910,852 (4.038%)
Stablecoins: $5,746,411,476 (3.093%)
Altcoins: $50,845,730,299 (27.370%)

This is the change compared to my last post:

Bitcoin: +1.575%
Bitcoin forks: +0.189%
Stablecoins: +0.732%
Altcoins: -2.495%

[onrise]

Altcoin is trying to survive now, despite the high dominance of Bitcoin, I still see Altcoin still staying at the support level, and it looks strong, I'm sure altcoin this time will withstand Bitcoin when the dump occurs

If some one can pick a good altcoin and stay invested for some couple of years I am sure the rise would be manifold times and can make one a millionaire if invest with good amount. But research and luck will also play good role in helping you to become rich with altcoins and as future will belong to crypto the chances of good altcoin rising also increases.