Bitcoin dominance hits 43%, alts surging ahead

[bryant.coleman]

that's good news if the dominance of Bitcoin goes down, it's likely that altcoins will also go up,
compare with the dominance of bitcoin when it goes down in 2018, altcoins go up high,
and altcoin season occurs, if the dominance drops to 30% I'm sure altcoin season v2 will come

Well.. the altcoin market cap has gone up during the last 2-3 months, but the most noticeable increase has been for the stablecoins. Take the case of Tether. It increased it's market cap by almost 4x since the beginning of this year (from $4 billion to $16 billion). The increase in altcoin market cap partly comes from the listing of new coins, such as Polkadot and Crypto.com Coin.

[bryant.coleman]

As of 22nd October 2020:

Total market cap: $387,029,947,213 (+10.85%)

Bitcoin: $236,640,215,802 (61.143%)
Bitcoin forks: $8,239,336,509 (2.129%)
Stablecoins: $20,268,519,372 (4.983%)
Altcoins: $121,881,875,530 (31.745%)

This is the change compared to my last post:

Bitcoin: +3.393%
Bitcoin forks: -0.061%
Stablecoins: -0.391%
Altcoins: -2.940%

Total market cap: $349,136,990,486 (-0.15%)

Bitcoin: $201,626,854,355 (57.750%)
Bitcoin forks: $7,646,560,473 (2.190%)
Stablecoins: $19,380,144,057 (5.374%)
Altcoins: $120,483,431,601 (34.685%)

This is the change compared to my last post:

Bitcoin: +0.912%
Bitcoin forks: -0.032%
Stablecoins: +0.376%
Altcoins: -1.256%

[jerry0]

Anyone thinks it hits higher?  I saw it went higher but now alts are coming back.

[rodskee]

Anyone thinks it hits higher?  I saw it went higher but now alts are coming back.

well this post created long time before now so things has already changed,alts now are striking High specially Defi based coins in which dominating the market (Except from RANKed 1-6)
so in means we are looking fair in terms of Altcoins and Bitcoin movement.
there will be a good Bullrun this coming months because we already meet $13,000 value today.

[Natalim]

Anyone thinks it hits higher?  I saw it went higher but now alts are coming back.

well this post created long time before now so things has already changed,alts now are striking High specially Defi based coins in which dominating the market (Except from RANKed 1-6)
so in means we are looking fair in terms of Altcoins and Bitcoin movement.
there will be a good Bullrun this coming months because we already meet $13,000 value today.

Looking forward at that bull run you are talking, it could be real or just a bull trap, regardless, it's not new to the market, bitcoin remains unpredictable and I even like it as I can milk some money with its volatility. 

OP seemed to be doing a great job updating us with the figures necessary, but I have one suggestion, maybe the thread title will be edited according to the timely BTC dominant rate.  Like 50+% or 60+% (rounded off) if OP can't update it regularly.

[bryant.coleman]

As of 16th November 2020:

Total market cap: $456,729,511,960 (+18.01%)

Bitcoin: $296,945,865,759 (65.016%)
Bitcoin forks: $7,702,124,359 (1.686%)
Stablecoins: $22,156,216,470 (4.646%)
Altcoins: $129,925,305,372 (28.652%)

This is the change compared to my last post:

Bitcoin: +3.873%
Bitcoin forks: -0.442%
Stablecoins: -0.337%
Altcoins: -3.093%

As of 22nd October 2020:

Total market cap: $387,029,947,213 (+10.85%)

Bitcoin: $236,640,215,802 (61.143%)
Bitcoin forks: $8,239,336,509 (2.129%)
Stablecoins: $20,268,519,372 (4.983%)
Altcoins: $121,881,875,530 (31.745%)

This is the change compared to my last post:

Bitcoin: +3.393%
Bitcoin forks: -0.061%
Stablecoins: -0.391%
Altcoins: -2.940%

OP seemed to be doing a great job updating us with the figures necessary, but I have one suggestion, maybe the thread title will be edited according to the timely BTC dominant rate.  Like 50+% or 60+% (rounded off) if OP can't update it regularly.

I am not the OP. I can do the regular update, if the thread ownership is transferred to me.

[leea-1334]

Bitcoin shows everyone else again time after time that the true value of crypto lies not in all the hype circles of altcoins of ICOs and STOs and IEOs and DeFI,,, but in actual coins with actual utility.

Of course, we will continue to find other uses and other things. You know people will keep on coming up with them. But you cannot go wrong with faith in the one true coin;)

[Japinat]

Bitcoin shows everyone else again time after time that the true value of crypto lies not in all the hype circles of altcoins of ICOs and STOs and IEOs and DeFI,,, but in actual coins with actual utility.

Of course, we will continue to find other uses and other things. You know people will keep on coming up with them. But you cannot go wrong with faith in the one true coin;)

Exactly, if we are to invest for long term, we should put a big portion of our money to bitcoin as it's the king of crypto, if it dies, everything will follow. It's okay to invest with altcoins also, but always prioritize bitcoin in our investment portfolio.

Now, we are once again back to the bullish market, slowly, hype is building until we reach a new ATH, and after that, it will be massive run which we might think would no stop, that's what FOMO does.

[Vishnu.Reang]

Bitcoin shows everyone else again time after time that the true value of crypto lies not in all the hype circles of altcoins of ICOs and STOs and IEOs and DeFI,,, but in actual coins with actual utility.

Of course, we will continue to find other uses and other things. You know people will keep on coming up with them. But you cannot go wrong with faith in the one true coin;)

Coins with real life usage have increased their market share. Look at USDT (Tether). It is having an actual use, as in countries such as China traders are using it to exchange other coins to fiat. Tether is now the third largest cryptocurrency in terms of market cap. It's market cap increased from $4 billion to $18 billion during the last 12 months. And during the same period, the market cap of USDC increased from $214 million to $2.8 billion.

On the other hand, shitcoins have seen their market cap go down. XRP market cap is down by 10%. BSV shitcoin has seen its market cap plummet from $5.2 billion to $2.9 billion. The TRX shitcoin has lost one-third of its market capitalization during the last two months.

[kapalmabur]

now the dominance of Btc is at 65%, in my opinion this is a very high number,
but some altcoins have no impact, such as Ethereum, Waves and Litecoin are still very strong,
somehow these altcoins are not affected by Btc domination that creeps up even though all altcoins have decreased by 100 %.

[BrewMaster]

now that bitcoin price is becoming more stable again inside the $16k range we may start seeing the traders go back to shitcoin market and start pumping the altcoins for a little while which means that dominance thing will change again but at the end of the day it still means nothing since the same shitcoins that got pumped will get dumped again as soon as bitcoin starts rising and breaking $17k level.

[philipma1957]

So is it time to buy buy buy?  eth

eth got to 1200/20000 = 6% of btc  I rounded but that is close

eth is now 460/16700 = 2.75% of btc I rounded but close.

so  if 4% is true not 2.75% or 6%

we should be 4% x 16700 = 668 usd for eth


or 460/.04 = 11500 usd for btc

[exstasie]

So is it time to buy buy buy?  eth

Daily ETHBTC chart is still a blood bath, no technical signs of reversal yet. I would stay away from ETH until there is a more clear bottom. There is still too much panic from people trying to buy back into BTC right now.

The last major ETHBTC top coincided with the BTCUSD selloff (and bottoming out) in the $9Ks in early September. We might see the opposite next time around, with a major BTCUSD top coinciding with an ETHBTC bottom.

[LUCKMCFLY]

I think the same, if Bitcoin is increasing, in the same way the alts will fall in price unless the bitcoin confirms the bullish trend, in that case both ETH and any alt will go up. In the ETHBTC pair the behavior in general is very similar to that of BTCUSD, it is logical, they will always follow the path of the Bitcoin King. The fluctuations that can be seen unlike the BTCUSD is particularly when the changes of strong movements in Bitcoin occur.

[bryant.coleman]

now the dominance of Btc is at 65%, in my opinion this is a very high number,
but some altcoins have no impact, such as Ethereum, Waves and Litecoin are still very strong,
somehow these altcoins are not affected by Btc domination that creeps up even though all altcoins have decreased by 100 %.

It is indeed high, when we compare with the numbers we had on 17th December 2017, when the ATH level was achieved. Back then, this was the market share of various cryptocurrencies:

Bitcoin: 55.47%
Ethereum: 11.6%
XRP: 4.81%
BCH: 5.3%
LTC: 2.9%

Also, it is very interesting to analyze the Bitcoin dominance in 2017. Until March 2017, it was stable, at around 83%. By June, it reached 37% (due to the BCH fork) and then slowly started increasing again. Breached the 60% level in December, before falling steeply to 33% by January 2018. Back then the market share was extremely volatile, unlike the situation now.

[Questat]

There's no altcoin run yet, bitcoin dominant rate is too high, the last time there was a bull run, bitcoin dominant rate dropped to 30% level and I don't see it happening now as there's plenty of shitcoins in the market, so people are losing interest investing on altcoins, and if ever bitcoin will create a new ATH, I think there's a possible run of altcoins but not the majority, dominant rate of BTC will still stay at over 50%, that's for sure.

[judaspriest]

Altcoins are very behind now, especially Bitcoin dominance has reached 65%,
but the good news is that 65% is resistance, if it fails to break and does not exceed 67%,
then altcoins will certainly be pumped again, maybe recovery.

[bryant.coleman]

As of 26th November 2020:

Total market cap: $513,959,058,731 (+12.53%)

Bitcoin: $321,798,016,048 (62.612%)
Bitcoin forks: $8,732,802,837 (1.699%)
Stablecoins: $23,269,931,501 (4.361%)
Altcoins: $160,158,308,345 (31.329%)

This is the change compared to my last post:

Bitcoin: -2.404%
Bitcoin forks: +0.013%
Stablecoins: -0.285%
Altcoins: +2.677%

As of 16th November 2020:

Total market cap: $456,729,511,960 (+18.01%)

Bitcoin: $296,945,865,759 (65.016%)
Bitcoin forks: $7,702,124,359 (1.686%)
Stablecoins: $22,156,216,470 (4.646%)
Altcoins: $129,925,305,372 (28.652%)

This is the change compared to my last post:

Bitcoin: +3.873%
Bitcoin forks: -0.442%
Stablecoins: -0.337%
Altcoins: -3.093%

[Quintrix]

This thread is already more than a year old, but the dominance hasn't change  Dominance:BTC 61.6% it goes down a small percentage but I expect this to go up when it hit another all time high, it could go up as high 70% or even higher now that Bitcoin is all set to go to the moon.

[Vishnu.Reang]

This thread is already more than a year old, but the dominance hasn't change  Dominance:BTC 61.6% it goes down a small percentage but I expect this to go up when it hit another all time high, it could go up as high 70% or even higher now that Bitcoin is all set to go to the moon.

I am not sure. So many new coins have come to the market during the last 12-24 months and many of them are in the top-10 and top-20 lists. Examples are Chainlink, Polkadot and Wrapped Bitcoin. And when new coins enter the market, they will obviously poach in to the existing market cap of other coins. So I would naturally expect the Bitcoin dominance to go down.