Bitcoin dominance hits 43%, alts surging ahead

[Botnake]

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.

Unfortunately that's unlikely to be seen, unless we will see some crazy bull run like the last, 2017 to be specific. AFAIR, bitcoin dominance that time was below 40%, and when it rises slowly while altcoins have significant dumps, bitcoin stays at over 50% already, and now at 60%+.

[1714832090]

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[1714832090]

1714832090

[1714832090]

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[slaman29]

Unfortunately that's unlikely to be seen, unless we will see some crazy bull run like the last, 2017 to be specific. AFAIR, bitcoin dominance that time was below 40%, and when it rises slowly while altcoins have significant dumps, bitcoin stays at over 50% already, and now at 60%+.

Yep! It was way below 50% most times, and then when it was below 40 the Flippening talk happened (remember that ETH 1.0?) but that never lasted long. It's always been Bitcoin first, and last, just odd times every now and then when hype pushes some of the crap to the top for a while and we forget how bad it smells:P

[bryant.coleman]

Yep! It was way below 50% most times, and then when it was below 40 the Flippening talk happened (remember that ETH 1.0?) but that never lasted long. It's always been Bitcoin first, and last, just odd times every now and then when hype pushes some of the crap to the top for a while and we forget how bad it smells:P

A lot of inaccuracies in your post. The "Flippening" talk emerged during mid-2017, when BTC was considerably weakened by the BCH hard fork. At that time, there was only around 2% difference in the market dominance for both BTC and ETH (If I remember correctly, 35% and 33% respectively). But a few months later, BCH weakened and this enabled BTC to stabilize at around 40% level. At this point the rally started, which took Bitcoin to ATH level of $20,000.

[bryant.coleman]

7th December 2020:

Total market cap: $572,207,897,072 (+11.33%)

Bitcoin: $358,016,677,805 (62.568%)
Bitcoin forks: $9,074,436,764 (1.586%)
Stablecoins: $24,295,123,672 (4.079%)
Altcoins: $180,821,658,831 (31.768%)

This is the change compared to my last post:

Bitcoin: -0.044%
Bitcoin forks: -0.113%
Stablecoins: -0.282%
Altcoins: +0.439%

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%

[Shasha80]

Bitcoin price started rising slowly again after experiencing a correction a few days ago falling below the price of $ 19,000.
With the current increase in the price of Bitcoin, making Bitcoin dominance also increased to 62.6%. If Bitcoin dominance
goes up it will make the altcoins go down, because many are moving altcoins into Bitcoin. Based on my analysis it is possible
that in two weeks Bitcoin could go up to a price of $ 20,000.

[bryant.coleman]

As of 15th December 2020:

Total market cap: $566,750,345,251 (-0.95%)

Bitcoin: $359,059,066,019 (63.354%)
Bitcoin forks: $8,487,551,907 (1.498%)
Stablecoins: $25,521,062,348 (4.503%)
Altcoins: $173,682,664,977 (30.645%)

This is the change compared to my last post:

Bitcoin: +0.786%
Bitcoin forks: -0.088%
Stablecoins: +0.425%
Altcoins: -1.123%

7th December 2020:

Total market cap: $572,207,897,072 (+11.33%)

Bitcoin: $358,016,677,805 (62.568%)
Bitcoin forks: $9,074,436,764 (1.586%)
Stablecoins: $24,295,123,672 (4.079%)
Altcoins: $180,821,658,831 (31.768%)

This is the change compared to my last post:

Bitcoin: -0.044%
Bitcoin forks: -0.113%
Stablecoins: -0.282%
Altcoins: +0.439%

[Kopetunto]

it has become a tradition if Bitcoin dominance rises then altcoin prices plunge,
this is because the shift from altcoin holders to Bitcoin is too much to make Bitcoin dominance rise above 60%,
of course the impact on the altcoin market is very high, if you want to buy altcoins in my opinion right now is right time,

[BrewMaster]

it has become a tradition if Bitcoin dominance rises then altcoin prices plunge,
this is because the shift from altcoin holders to Bitcoin is too much to make Bitcoin dominance rise above 60%,
of course the impact on the altcoin market is very high, if you want to buy altcoins in my opinion right now is right time,

to be fair right now this is correct and is because of the altcoin prices dumping after bitcoin price started rising. but it may not remain like this, the altcoin prices will continue to dump but also soon there will be a huge amount of new altcoins start being created. with all those coins adding a lot of market cap overnight with lots of supply out of thin air, the total market cap grows and bitcoin's market cap divided by this total will be a smaller percentage.

[bryant.coleman]

it has become a tradition if Bitcoin dominance rises then altcoin prices plunge,
this is because the shift from altcoin holders to Bitcoin is too much to make Bitcoin dominance rise above 60%,
of course the impact on the altcoin market is very high, if you want to buy altcoins in my opinion right now is right time,

I can't completely agree with you. If you check my previous posts, it can be seen that when Bitcoin was trading at around $10,000 per coin, the dominance was around 62%. Now it is trading above $20K per coin, and the dominance has slightly increased to 64%. Now if the altcoin prices have remained the same, then the Bitcoin dominance would have been much higher. It would have been in the ~80% range. That hasn't happened, because the altcoin prices have also increased during the same period.

[bryant.coleman]

Once again, the altcoins have gone below 30%.

As of 18th December 2020:

Total market cap: $651,397,390,156 (+14.94%)

Bitcoin: $426,016,106,751 (65.400%)
Bitcoin forks: $9,480,170,364 (1.455%)
Stablecoins: $25,927,811,234 (3.980%)
Altcoins: $189,973,301,807 (29.164%)

This is the change compared to my last post:

Bitcoin: +2.046%
Bitcoin forks: -0.042%
Stablecoins: -0.523%
Altcoins: -1.481%

As of 15th December 2020:

Total market cap: $566,750,345,251 (-0.95%)

Bitcoin: $359,059,066,019 (63.354%)
Bitcoin forks: $8,487,551,907 (1.498%)
Stablecoins: $25,521,062,348 (4.503%)
Altcoins: $173,682,664,977 (30.645%)

This is the change compared to my last post:

Bitcoin: +0.786%
Bitcoin forks: -0.088%
Stablecoins: +0.425%
Altcoins: -1.123%

[Inkdull]

Things are pretty different this year, this time in 2017 every altcoins are already very bullish but this time around bitcoin dominance seem stronger, since more funds are been poured into Bitcoin I think bitcoin Bullrun won't get done anytime sooner, and if dominance remains at 65% altcoins won't get any better chance

[btc_angela]

Things are pretty different this year, this time in 2017 every altcoins are already very bullish but this time around bitcoin dominance seem stronger, since more funds are been poured into Bitcoin I think bitcoin Bullrun won't get done anytime sooner, and if dominance remains at 65% altcoins won't get any better chance

It's because this bull run is very different from 2017. This time bitcoin completely dominates the altcoin market, while altcoin has it's up and down, not very consistent like we have seen in 2017. Maybe Altcoins investors doesn't want to rush and FOMO and just waiting for the right time to invest. Although Defi had it's time already, but it didn't sustained as there are scams and hacks everywhere.

So I would say bitcoin dominance will continue specially if we hit $25k-$30k next year. And altcoin will continue to suffer because all the money are going to flow into BTCitcoin.

[Botnake]

Things are pretty different this year, this time in 2017 every altcoins are already very bullish but this time around bitcoin dominance seem stronger, since more funds are been poured into Bitcoin I think bitcoin Bullrun won't get done anytime sooner, and if dominance remains at 65% altcoins won't get any better chance

It's because this bull run is very different from 2017. This time bitcoin completely dominates the altcoin market, while altcoin has it's up and down, not very consistent like we have seen in 2017. Maybe Altcoins investors doesn't want to rush and FOMO and just waiting for the right time to invest. Although Defi had it's time already, but it didn't sustained as there are scams and hacks everywhere.

So I would say bitcoin dominance will continue specially if we hit $25k-$30k next year. And altcoin will continue to suffer because all the money are going to flow into BTCitcoin.

I agree with you, look at the market now, it's so obvious, the dominant rate of bitcoin barely change significantly, and even if bitcoin will reach $30k or even $50k, altcoins will still slowly follow but I don't believe they will suffer because at the moment, some also looks profitable.

[smyslov]

So I would say bitcoin dominance will continue specially if we hit $25k-$30k next year. And altcoin will continue to suffer because all the money are going to flow into BTCitcoin.

Yes there's a big possibility, all talk and all eyes are on Bitcoin, there's a possibility that Bitcoin dominance will hit 70% or even higher so if your portfolio on Bitocin is lower than 50% it's time for you to change your direction and acquire and increase your portfolio it should be 60% at this point in time.

[pooya87]

Things are pretty different this year, this time in 2017 every altcoins are already very bullish but this time around bitcoin dominance seem stronger, since more funds are been poured into Bitcoin I think bitcoin Bullrun won't get done anytime sooner, and if dominance remains at 65% altcoins won't get any better chance

The 2017 percentages had very little to do with altcoins being bullish. It was mainly because of the sheer number of shitcoins that were created in a short time with huge supplies and since market cap is simply price multiplied by these supplies that percentage shrank and when some of these shitcoins died it went back up. But the creation hasn't stopped so the percentage is still at around 65% and it has never represented dominance.

[JayJuanGee]

Things are pretty different this year, this time in 2017 every altcoins are already very bullish but this time around bitcoin dominance seem stronger, since more funds are been poured into Bitcoin I think bitcoin Bullrun won't get done anytime sooner, and if dominance remains at 65% altcoins won't get any better chance

The 2017 percentages had very little to do with altcoins being bullish. It was mainly because of the sheer number of shitcoins that were created in a short time with huge supplies and since market cap is simply price multiplied by these supplies that percentage shrank and when some of these shitcoins died it went back up. But the creation hasn't stopped so the percentage is still at around 65% and it has never represented dominance.

In other words, the whole metric is pretty stupid.. because there are a lot of ways to make other coins appear to be equal to bitcoin or to have some kind of importance, when they hardly do have any importance except for being experimentation avenues and perhaps places for dumb money to get fucked over because they do not understand what differentiates bitcoin from the various shitcoins.

[bryant.coleman]

We are not in not 2017 we in 2016 or early 2017. At this time in 2016, bitcoin has a dominance of over 95% and crash as low 30% around June/July 2017. This is not the bullish market we are expecting, this is only a recovery market to break the previous ATH. Now we are heading for the parabolic market that everyone is talking about (Bitcoin over $100k). This is expected in 2021 to complete the 4 year cycle people have been talking about.

Well.. I have to agree here. Another thing to remember here is that although Bitcoin has reached a new ATH, the combined cryptocurrency market cap is much lower than the peak level. The current cryptocurrency market cap is $665 billion, while the figure was $832 billion three years ago. But I agree with pooya87 and JayJuanGee. The 2017 market cap was inflated by a huge number of shitcoins.

[KTChampions]

We are not in not 2017 we in 2016 or early 2017. At this time in 2016, bitcoin has a dominance of over 95% and crash as low 30% around June/July 2017. This is not the bullish market we are expecting, this is only a recovery market to break the previous ATH. Now we are heading for the parabolic market that everyone is talking about (Bitcoin over $100k). This is expected in 2021 to complete the 4 year cycle people have been talking about.

I think this analogy doesn't work and won't work anymore. I see no reason why the revolution that took place with the emergence of ETH would be repeated. Altcoins have occupied the available niches and most of them die - only the most effective ones remain. Even if the market grows exponentially in some areas, these will be separate areas, not new altcoins.

[Sithara007]

I think this analogy doesn't work and won't work anymore. I see no reason why the revolution that took place with the emergence of ETH would be repeated. Altcoins have occupied the available niches and most of them die - only the most effective ones remain. Even if the market grows exponentially in some areas, these will be separate areas, not new altcoins.

Cryptocurrency market doesn't behave in the same way as we expect it. After there was a major crash in 2018, I expected the shitcoins to go extinct very soon. But that hasn't happened. Although Bitcoin dominance has increased, a large fraction of the cryptocurrency market cap is still being held by various shitcoins with no practical usage. And I have to disagree with you on new altcoins. There will be an influx of new coins in the near future, as the demand is there in the market. Many of the recent altcoins have become very successful, and examples are Polkadot and Aave.

[KTChampions]

I think this analogy doesn't work and won't work anymore. I see no reason why the revolution that took place with the emergence of ETH would be repeated. Altcoins have occupied the available niches and most of them die - only the most effective ones remain. Even if the market grows exponentially in some areas, these will be separate areas, not new altcoins.

Cryptocurrency market doesn't behave in the same way as we expect it. After there was a major crash in 2018, I expected the shitcoins to go extinct very soon. But that hasn't happened. Although Bitcoin dominance has increased, a large fraction of the cryptocurrency market cap is still being held by various shitcoins with no practical usage. And I have to disagree with you on new altcoins. There will be an influx of new coins in the near future, as the demand is there in the market. Many of the recent altcoins have become very successful, and examples are Polkadot and Aave.

Perhaps you consider all altcoins to be shitcoins? Personally, I see that there are only demanded coins left on the market or those coins that are being actively worked on and they have a future. Many shitcoins are either completely dead, or formally exist and even have some (formal) trading volume, but in fact they are already dead.