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Author Topic: Bitcoin dominance hits 71.2%, alts lagging behind  (Read 2402 times)
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July 16, 2019, 09:41:39 AM
 #141

As for Tether, it's one of the most shady and mysterious crypto.
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July 16, 2019, 12:32:39 PM
 #142

70% of my portfolios consists of alts. It's stupied but I believe in their growth..

That depends on the coin that you own. You can't generalize the altcoins. There are promising coins among them, such as ETH, ADA, XLM and XMR. But at the same time, 95% or more of these alts are worthless copycats. So everything will depend on your portfolio composition. If you are so confident about their growth, then there is no need to listen to the others. I wish you all the very best with your holdings.

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July 16, 2019, 12:55:39 PM
 #143

You can't generalize the altcoins. There are promising coins among them, such as ETH, ADA, XLM and XMR. But at the same time, 95% or more of these alts are worthless copycats. So everything will depend on your portfolio composition. If you are so confident about their growth, then there is no need to listen to the others. I wish you all the very best with your holdings.

'Promising' doesn't matter. It's effectively random what pumpers will latch on to. They may go for pure shit and ignore stuff that's hard working and innovative. There is no rhyme or reason to any of it. It's pure gambling and always has been.

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July 16, 2019, 03:08:16 PM
 #144

According to the Coinmarketcap website, Bitcoin dominance has breached the 60% level and is now reported at 60.1%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 64%, while the altcoin market share has dipped below the 36% mark.

I am sure that a lot of users may be unhappy about this, but I am delighted as more than 90% of my crypto assets are in the form of BTC. I had sold most of my alt holdings in 2018.

I am not very sure about the reasons behind the rising BTC dominance. But I suspect that the users have become more matured now, and a lot of them have realized that investing in shitcoins is simply not worth all the risk.

Here is my outlook for the major cryptocurrencies:

1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.

2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.

3. XRP: I would say that this one is the most worthless and unreliable altcoins among the top 10. Therefore I am not surprised by its falling market share.

4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.

5. LTC: One of the best performing alts. However I won't be surprised if a correction occurs post block reward halving.

6. EOS: I don't know much about this coin.

7. BNB: I would consider this coin as overpriced. A correction is due.

8. BSV: A lot will depend on the future actions of CSW. Very unpredictable coin.

9. USDT: Everything was going well for Tether until the scandal at Bitfinex was revealed to the public. Now a lot of the users don't consider this coin as a reliable stablecoin. In the near future it will be facing a lot of competition from the other stablecoins.

10. TRX: An overpriced shitcoin. I don't have anything good to say about this one.

It will be really hard for Alternate Cryptocurrencies to catch up to Bitcoin. Its popularity is increasing due to Alternate Cryptos that are being made. If more Cryptos are made then Bitcoin's reputation will increase because almost every Alternate Crypto was based on Bitcoin. If they want to surpass Bitcoin, then every other platform must have its own unique feature that can prove their usefulness.

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July 16, 2019, 03:10:35 PM
 #145

Does anyone know the lowest point where bitcoin dominance was?  I recall at one point it was like at 37% at the lowest?
Even below that point, I don't recall the number correctly though but I've seen about 30% (correct me if I'm wrong) but at that day altcoins always soaring, even new project that looks really useless in practical use still being pumped, everything is hyped up until it reaches to the point where it just falls of to the cliff.

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July 16, 2019, 03:43:30 PM
 #146

Does anyone know the lowest point where bitcoin dominance was?  I recall at one point it was like at 37% at the lowest?
Even below that point, I don't recall the number correctly though but I've seen about 30% (correct me if I'm wrong) but at that day altcoins always soaring, even new project that looks really useless in practical use still being pumped, everything is hyped up until it reaches to the point where it just falls of to the cliff.

Already answered here:

It was 32% during January 2018, during the fee war and the eth second pump
https://coinmarketcap.com/charts/#dominance-percentage

We are now at 66.6%, and less than 1/10th of a percent away from the psychologically important two-thirds level. Altcoin market cap has dipped well below the 30% mark, and many of the established alts are below their major support levels. ETH is currently trading at 0.021 BTC, well below the support level of 0.025. Ripple has dipped below the 3,000 Sat level. Litecoin is currently trading at 0.0084 BTC, well below the support level of 0.01.

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July 16, 2019, 03:49:46 PM
 #147

Does anyone know the lowest point where bitcoin dominance was?  I recall at one point it was like at 37% at the lowest?
Even below that point, I don't recall the number correctly though but I've seen about 30% (correct me if I'm wrong) but at that day altcoins always soaring, even new project that looks really useless in practical use still being pumped, everything is hyped up until it reaches to the point where it just falls of to the cliff.

Already answered here:

It was 32% during January 2018, during the fee war and the eth second pump
https://coinmarketcap.com/charts/#dominance-percentage

We are now at 66.6%, and less than 1/10th of a percent away from the psychologically important two-thirds level. Altcoin market cap has dipped well below the 30% mark, and many of the established alts are below their major support levels. ETH is currently trading at 0.021 BTC, well below the support level of 0.025. Ripple has dipped below the 3,000 Sat level. Litecoin is currently trading at 0.0084 BTC, well below the support level of 0.01.
Market recovers, but it isn't assured with some deadline. Can expect the growth in the dominance level of altcoins over the beginning of 2020, until then it is truly hard to expect the market to recover from such a fall in the dominance level. Ethereum currently has a dominance level lower than 8.5% which clearly shows that growth isn't happening throughout.




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July 16, 2019, 06:10:32 PM
 #148

70% of my portfolios consists of alts. It's stupied but I believe in their growth..

That depends on the coin that you own. You can't generalize the altcoins. There are promising coins among them, such as ETH, ADA, XLM and XMR. But at the same time, 95% or more of these alts are worthless copycats. So everything will depend on your portfolio composition. If you are so confident about their growth, then there is no need to listen to the others. I wish you all the very best with your holdings.

LOL No, altcoins are mostly scams now -- get some built using peoples FIAT (not everyone's bitcoin) and see which projects can actually contribute something valuable.

Even ETH -- its moving to an untested proof of stake system and forking AGAIN. That is AFTER they forked from ETH Classic, have changed their Max Supply of ether and rolled back the blockchain to take almost all trust out of the entire project

https://www.coindesk.com/ethereum-executes-blockchain-hard-fork-return-dao-investor-funds

It was the project with the most potential before every alt became a questionable shitcoin. Have fun funding all this crap, it's just wasting peoples bitcoin and keeping the value of bitcoin down until an altcoin shows ACTUAL value or they all die.


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July 17, 2019, 07:31:58 AM
 #149

Lol 65% dominance for bitcoin is nothing historically speaking. Prior to 2017 80% dominance for BTC was the norm. I remember at one point in 2015 it went as high as 92%.....
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July 17, 2019, 09:29:00 AM
 #150

Lol 65% dominance for bitcoin is nothing historically speaking. Prior to 2017 80% dominance for BTC was the norm. I remember at one point in 2015 it went as high as 92%.....

well the number of shitcoins in circulation in 2015 was 1/15 of the current amount. so when the number of shitcoins grew and people started to care about market capitalization silly things such as "dominance" started shaping up and with nearly 3000 shitcoins in circulation today that percentage which has nothing to do with dominance came down!
and the funny thing is as these shitcoins started to die and the number started dropping from 3000 down to 2100ish, that meaningless percentage started growing.

so if anything this percentage is only showing the number of shitcoins in circulation Cheesy

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July 17, 2019, 11:35:56 AM
 #151

Lol 65% dominance for bitcoin is nothing historically speaking. Prior to 2017 80% dominance for BTC was the norm. I remember at one point in 2015 it went as high as 92%.....

well the number of shitcoins in circulation in 2015 was 1/15 of the current amount. so when the number of shitcoins grew and people started to care about market capitalization silly things such as "dominance" started shaping up and with nearly 3000 shitcoins in circulation today that percentage which has nothing to do with dominance came down!
and the funny thing is as these shitcoins started to die and the number started dropping from 3000 down to 2100ish, that meaningless percentage started growing.

so if anything this percentage is only showing the number of shitcoins in circulation Cheesy

Exactly. The biggest reason why BTC dominance has been so low over the past few years is because the market has been flooded with shitcoins with artificially high marketcaps. Now that this is being corrected by the market a clearer picture of what BTC's real dominance always has been and continues to be is coming back into focus.
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July 17, 2019, 01:54:57 PM
 #152

That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

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July 17, 2019, 03:32:18 PM
 #153

That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

Buying bitcoin and ethereum can help us to make a profit in the long term but be careful because bitcoin price and ethereum price is too volatile right now and we need to prepare for the worst thing that might happen later. Maybe we can get a low price now, but no one knows what will happen in the next hours. So we need to know when the time to decide by selling the bitcoin and ethereum, especially in an unstable moment like now.

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July 17, 2019, 05:26:22 PM
 #154

Do you have any fact based on which you said "trx is a shitcoin?

Here are my points:

1. It is not clear what is the real purpose of this coin. Justin Sun wants to "heal the internet", but he has no solid plans for the same.
2. Even the users don't know whether TRX is a social network, or media platform, or something like Bit Torrent.
3. Try to read the (original) TRX whitepaper. You will be surprised at the crude language and lack of idea.
4. Entire sections within the (original) white paper have been stolen from other projects (Filecoin and the InterPlanetary File System).
5. TRX is neither the first nor the best crypto platform to provide services like decentralized storage and filesharing.

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July 21, 2019, 03:59:02 AM
 #155

Do you have any fact based on which you said "trx is a shitcoin?

TRX may or may not be a shitcoin, but IMO it is very much over-priced (even at current levels, after falling from a market cap of $17 billion to $2 billion). And this story is not unique to TRX. It is applicable for the vast majority of the altcoins which are in circulation right now. The only individual who has benefited from the creation of TRX is Justin Sun, who made hundreds of millions of USD (if not billions) by converting some of his stash to USD during the peak bull run in January 2018.

For an altcoin having a market capitalization of $2 billion, it is having zero practical uses as of now. It was supposed to be used as a platform for decentralized file sharing. But how many users are doing this? Almost everyone is holding TRX as an investment asset, and not as an application platform. The only positive thing I could say about TRX is that Justin Sun has been very successful in promoting this currency.



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box1111111
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July 21, 2019, 06:30:26 AM
 #156

And after this btc dominance they a re talking about alt season
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July 21, 2019, 10:53:02 AM
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 #157

It's not new bitcoin is the mother of it and if ethereum will start moved i think all alts will go behind it. Back on 2017 the year of dominance of crypto all alts are rise on it when bitcoin reaches the All Time High of it. That's point of entry of it when bitcoin reached again the All Time High alts will come along with it.

Back in 2017, it was just crazy hype which helped many of the alts to attain multi-billion USD market caps. The ICO market was also at its peak and a lot of investors (who in turn got rich from Bitcoin earlier) poured their money in to these little-known projects triggered by the initial success of a few ICOs in 2016 and 2017. The ICO market fueled a bull run for ETH, which rose by 100x in 2017. Those who were left behind invested in the other altcoins, hoping that those coins will also give the same sort of returns. In the end, these projects, many of them in their infancy zoomed up by 100 or 200 times above their fair valuation. And the promoters moved in and cashed out under these circumstances. Many of them got filthy rich. And once they became rich, they lost their interest in the project and the development was stalled. And in the end, it was all predictable.



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July 22, 2019, 08:28:04 PM
 #158

70%+ dominance for btc is the norm for me. Yes, I'm not a fan of alts.
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July 22, 2019, 09:53:21 PM
 #159

What's the conclusion? better buy a little bit of btc than full bags of alts.
The dominance level has come low, but it is found above 65% which is a small margin drop from its peak dominance. Maybe soon there will be a turn in the market with altcoins rising in value. Considering the same it seems to be good to invest on altcoins. As in the above quote always the largest percentage needs to be allocated to bitcoin to make the portfolio more valuable.
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July 23, 2019, 07:33:15 AM
 #160

60% is nothing. Prior to 2017 70%+ dominance for bitcoin was the norm. Things are correcting to the way they were prior to the 2017 pump.
Many of the altcoins we have now are not going to recover this year and investors out of fluctuations are selling or flipping their altcoins holding to Bitcoin and normally during the bullish market like this funds do flow from fiat to Bitcoin and from bitcoin to other coins but the situation is quite different this time around. Bitcoin is retaining majority of the funds that flow to cryptocurrency market.. Bitcoin dominant keep increasing since the beginning of April this year and it is growing to the level that was not there before.
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