Bitcoin dominance hits 43%, alts surging ahead

[TastyChillySauce00]

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.

[Vishnu.Reang]

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.

[romero121]

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.

[CryptoGamblingSites]

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.

[K21000]

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%.....

[Pursuer]

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

[K21000]

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

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.

[Saisher]

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.

[ethereumhunter]

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.

[Vishnu.Reang]

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.

[bryant.coleman]

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.

[box1111111]

And after this btc dominance they a re talking about alt season

[bryant.coleman]

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.

[Kewat]

70%+ dominance for btc is the norm for me. Yes, I'm not a fan of alts.

[Vaskiy]

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.

[arpon11]

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.

[freedomgo]

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.

That's not low, the last time I remember altcoins are breathing was when the dominant rate of bitcoin was around 30%, now it has more than doubled, so it's clear that the market currently is depending on the movement of BTC, if BTC will not grow, no chance for altcoins to rally.

[Vishnu.Reang]

What's the conclusion? better buy a little bit of btc than full bags of alts.

A lot of the noobs still think that Bitcoin is more "expensive" when compared to the alts. That's is like illogical thinking. The users are only thinking about the price per coin, while ideally they should be looking at the market cap. For example, the proponents of ETH argue that the price of their coin is just $220 and that of BTC is $10,000 and therefore ETH is much cheaper than BTC. But they conveniently hide the fact that the total supply of ETH is many times higher than that of Bitcoin.

[buwaytress]

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.

And then there's also those who say that any percentage means nothing, since dominance is all based on yet another metric that a lot of people think are worth nothing (market capitalisation).

I tend to see it in a slightly different light. For me, despite all the scores of truly shit tokens with no users inflating the market with price, and despite all the hanky-panky from exchanges putting up all those fake alt volumes, Bitcoin is STILL at this level of dominance.

That says something about it.

[romero121]

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.

And then there's also those who say that any percentage means nothing, since dominance is all based on yet another metric that a lot of people think are worth nothing (market capitalisation).

I tend to see it in a slightly different light. For me, despite all the scores of truly shit tokens with no users inflating the market with price, and despite all the hanky-panky from exchanges putting up all those fake alt volumes, Bitcoin is STILL at this level of dominance.

That says something about it.

Fake volumes were commonly found on every exchange. Even after providing with such volumes the dominance of bitcoin stands high. Importantly this year lot of funds invested on altcoins got moved into bitcoin as the growth isn't that good with altcoins. Altcoins will not recover that short, year 2017 was a blessing for altcoins and the altcoin holders.