adaseb
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September 03, 2019, 05:10:02 AM |
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We might hit the 80% rate even faster if BTC can break the yearly high sooner rather than later.
I think there are way too many people who are trying to catch these falling knives of certain alt ratios like ETH, XRP, TRX. They are basically thinking that the low must be somewhere close and they rather long an altcoin which has a quick chance of rising exponentially and while BTC pumps and alts dump they start getting FOMO.
So the cycle repeats, they sell the alts at a loss and get back into BTC again. I am expecting a huge alts capitulation soon.
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figmentofmyass
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September 03, 2019, 05:30:37 AM Merited by malevolent (1) |
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We might hit the 80% rate even faster if BTC can break the yearly high sooner rather than later. that's my target---80-85% range. i think that'll coincide with bitcoin testing/breaking the 2017 ATH. after the ATH is broken we'll start getting into bubbly territory and the dynamic could change. during BTCUSD corrections, money may start flowing into the altcoin market as investors seek out riskier and more speculative bets. that's what happened in 2017. So the cycle repeats, they sell the alts at a loss and get back into BTC again. I am expecting a huge alts capitulation soon.
same here, though maybe not for a couple more months. BTC attacking $20k should do it.
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freedomgo
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September 03, 2019, 07:07:19 AM |
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We might hit the 80% rate even faster if BTC can break the yearly high sooner rather than later. that's my target---80-85% range. i think that'll coincide with bitcoin testing/breaking the 2017 ATH. after the ATH is broken we'll start getting into bubbly territory and the dynamic could change. during BTCUSD corrections, money may start flowing into the altcoin market as investors seek out riskier and more speculative bets. that's what happened in 2017. According to this graph - https://coinmarketcap.com/charts/In december 2017, BTC's dominant rate was only below 50% and I don't think we will see it at 80% to expect a success, IMO. Again, based on graph, the last closest time BTC has over 80% dominant rate was Ferbruary 2017 and beyond, and because there's a lot of altcoins now that was produce in 2017 later periods and 2018, I think it's impossible to rise at that stage because it will result to altcoins getting dump really bad.
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exstasie
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September 03, 2019, 07:49:47 AM |
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According to this graph - https://coinmarketcap.com/charts/In december 2017, BTC's dominant rate was only below 50% and I don't think we will see it at 80% to expect a success, IMO. Again, based on graph, the last closest time BTC has over 80% dominant rate was Ferbruary 2017 and beyond, and because there's a lot of altcoins now that was produce in 2017 later periods and 2018, I think it's impossible to rise at that stage because it will result to altcoins getting dump really bad. February 2017 (when dominance was at 85%) is probably a much more relevant time period to look at. More indicative of a pre-bubble bull market like we're seeing now. The alt market was still super inflated in December 2017. Anyway, what matters most is the current trend/trajectory. The alt market doesn't look like it's seen capitulation yet and it's about to pass 70%. I don't see why we couldn't reach 80%.
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bryant.coleman
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September 03, 2019, 09:38:42 AM |
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February 2017 (when dominance was at 85%) is probably a much more relevant time period to look at. More indicative of a pre-bubble bull market like we're seeing now. The alt market was still super inflated in December 2017.
Anyway, what matters most is the current trend/trajectory. The alt market doesn't look like it's seen capitulation yet and it's about to pass 70%. I don't see why we couldn't reach 80%.
The Bitcoin dominance declined from 85% to 40% in less than a year, mostly as a result of the ICO boom. If you remember, Ethereum gave a return of more than 100x for that year, since it had almost complete monopoly among the ICO platforms. Also, there were new altcoins coming in to the market, such as Cardano (which was predicted by many to replace Bitcoin as the no.1 cryptocurrency). The ICO craze is over and ideally we should go back to the 85% level that we were having before the ICO bull run. IMO, it is the ongoing IEOs that is giving some sort of respectability to the altcoin market. Without them, the altcoins would be dead as a dodo by now. 50% to 70% took only 4 months. We still have 4 months remaining so far in this year. I would say that 80% or even 85% is possible, if there are no surprises. None of the altcoins are able to hold on to support levels. Take Ethereum for example. It was unable to hold on to 0.018, after missing several support levels earlier. Litecoin is not doing that good either. A lot of hype was there for the block reward halving of LTC. But it crashed heavily after the halving and now it is trading at 0.0065.
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gentlemand
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September 03, 2019, 09:49:01 AM |
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The ICO craze is over and ideally we should go back to the 85% level that we were having before the ICO bull run. IMO, it is the ongoing IEOs that is giving some sort of respectability to the altcoin market. Without them, the altcoins would be dead as a dodo by now.
Aye. I don't believe an alt bubble like 2017 will ever happen again. There will of course be alt pumps, that's just human nature to look for something 'cheaper', but I doubt there'll ever be another hook like ICOs. Going forward exchanges will consolidate and become more discerning. Your shittoken won't be able to get anywhere the places with volume. Binance US is indicative of this. At the same time Bitcoin will be available through channels that no other coin will be. Alts will have a place. They'll also be put in a box in a way they weren't in 2017.
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Vishnu.Reang (OP)
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September 03, 2019, 05:47:36 PM |
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When I created this thread, the dominance was hovering around 60%. In two months, it has increased to 70%. And check the latest exchange rates of the established alts. They are bleeding like anything:
Ethereum: BTC0.016933 Ripple: 2,467 Satoshis Litecoin: BTC0.006476 Monero: BTC0.007 Stellar: 593 Satoshis Cardano: 425 Satoshis Tron: 151 Satoshis
I can't even remember the last time when I saw prices like these...
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stompix
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September 03, 2019, 06:17:42 PM |
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The ICO craze is over and ideally we should go back to the 85% level that we were having before the ICO bull run. IMO, it is the ongoing IEOs that is giving some sort of respectability to the altcoin market. Without them, the altcoins would be dead as a dodo by now.
Aye. I don't believe an alt bubble like 2017 will ever happen again. There will of course be alt pumps, that's just human nature to look for something 'cheaper', but I doubt there'll ever be another hook like ICOs. I doubt that also. In the first altcoin bubble in 2013 we got a lot of shitty altcoins that had no "whitepaper", no "team" no "roadmap" but some of them did attract a lot of money because we still had lots of new people that never heard of cryptos. In 2017 simple project had no chance you had to have all the "x" in order to get money and some did. 2019 and nothing is managing to attract money the way they did it before. Right now, we're at a point where mining coins projects are simply dead and we already have 10 ICO for tokens that label meat, 12 for ones labelling milk, 13 for those labeling fruits, not even mentioning the hundreds of car sharing, home sharing, dog sharing, cat sharing tokens. The market is oversaturated with coins that require mining and bring nothing but huge electric bills, with ICO scams, with ICO that have delivered tokens but haven't done 1% of their promises and I'm pretty sure that's the situation for like 99% of the tokens. What we're seeing right now is something close to the dot-com bubble. Although cryptos currency adoption and usage are slowly growing, just like internet usage was back then, altcoins are bleeding because they are failed projects with unreasonable goals.
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bryant.coleman
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September 04, 2019, 01:44:33 AM |
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Please check my previous post. From what we have seen, during the past 2-3 months, the combined market cap (in USD) has remained more or less stable, while the dominance and market cap of Bitcoin have increased. The Bitcoin forks and stablecoins have mostly held their ground, while the losses came almost entirely from the altcoins. Less than a month back, the altcoins held a market share of 27.654%, while their current share stands at 25.086%. That means that their market cap has gone down by almost 15% (from $84 billion to $66 billion). The writing in the wall is clear. Altcoins are losing users and net worth at an alarming rate and August in particular was a bad month for them.
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windjc
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September 04, 2019, 04:40:42 AM |
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The ICO craze is over and ideally we should go back to the 85% level that we were having before the ICO bull run. IMO, it is the ongoing IEOs that is giving some sort of respectability to the altcoin market. Without them, the altcoins would be dead as a dodo by now.
Aye. I don't believe an alt bubble like 2017 will ever happen again. There will of course be alt pumps, that's just human nature to look for something 'cheaper', but I doubt there'll ever be another hook like ICOs. I doubt that also. In the first altcoin bubble in 2013 we got a lot of shitty altcoins that had no "whitepaper", no "team" no "roadmap" but some of them did attract a lot of money because we still had lots of new people that never heard of cryptos. In 2017 simple project had no chance you had to have all the "x" in order to get money and some did. 2019 and nothing is managing to attract money the way they did it before. Right now, we're at a point where mining coins projects are simply dead and we already have 10 ICO for tokens that label meat, 12 for ones labelling milk, 13 for those labeling fruits, not even mentioning the hundreds of car sharing, home sharing, dog sharing, cat sharing tokens. The market is oversaturated with coins that require mining and bring nothing but huge electric bills, with ICO scams, with ICO that have delivered tokens but haven't done 1% of their promises and I'm pretty sure that's the situation for like 99% of the tokens. What we're seeing right now is something close to the dot-com bubble. Although cryptos currency adoption and usage are slowly growing, just like internet usage was back then, altcoins are bleeding because they are failed projects with unreasonable goals. This is NOTHING like the dot com bubble. The dot com bubble was $10 TRILLION in 1999, which is probably equivalent to $15+ Trillion today. So we have a long ways to go before we get to those proportions. The last alt/btc bubble didn't even make it to $1 Trillion. Plus the dot com bubble was US based. Crypto is world wide. There will be another ALT bubble. But alts are going to continue to die until BTC is above ATHs. Once there is excess money to go around, it will start to flow back into alts. But the alt bear needs to be proportional the alt bull. The alt bull was huge compared to the last btc bull market. So now it has to bleed some more first. But alts (at least the decent ones with real applications and teams) will rise again.
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Wilhelm
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September 04, 2019, 05:01:50 AM |
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<snip> But alts (at least the decent ones with real applications and teams) will rise again.
Yeah like Dogecoin ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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Herbert2020
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September 04, 2019, 06:14:03 AM |
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This is NOTHING like the dot com bubble. The dot com bubble was $10 TRILLION in 1999, which is probably equivalent to $15+ Trillion today.
this is nothing like that but it has nothing to do with the size. in dot com bubble people were buying things that made sense, but in altcoin bubble they are buying into a pump of a useless thing that has no reason to exist. There will be another ALT bubble. But alts are going to continue to die until BTC is above ATHs. Once there is excess money to go around, it will start to flow back into alts. But the alt bear needs to be proportional the alt bull. The alt bull was huge compared to the last btc bull market. So now it has to bleed some more first.
you are wrong. the problem with altcoins is their lack of usage. basically they are created with one purpose in mind, to get pumped and dumped. so what we have is small periods where manipulators (market influencers) pump these coins artificially so that they can make money in short term and dump them right afterwards. so what happens is that it doesn't matter what bitcoin does and where it is regarding its price, these pumpers are pumping these shitcoins 24/7/365 but sometimes since there is more newbies around they can pump shitcoins more than usual. otherwise "excess" money never goes into these shitcoins because they are super risky.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip. Whales are those who keep buying the dip.
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gentlemand
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September 04, 2019, 09:42:17 AM |
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This is NOTHING like the dot com bubble. The dot com bubble was $10 TRILLION in 1999, which is probably equivalent to $15+ Trillion today.
Obviously not in financial terms, but in spirit there are similarities. The dotcom bubble consisted of - Hey, here's this new thing. Looks sleek. Looks sexy. Buzzwords. Guess it must be worth something. BUBBLE. Then it cratered for years. Then some real usage was figured out long after almost all of the stuff that bubbled died. That's exactly how I expect crypto to play out too. The question is was the 2017 alt bubble dotcom in miniature while Bitcoin was the internet itself all along? Or is it the true dotcom moment yet to come? It's going to take a long time to find out. I doubt that also.
In the first altcoin bubble in 2013 we got a lot of shitty altcoins that had no "whitepaper", no "team" no "roadmap" but some of them did attract a lot of money because we still had lots of new people that never heard of cryptos. In 2017 simple project had no chance you had to have all the "x" in order to get money and some did. 2019 and nothing is managing to attract money the way they did it before.
There's no way of knowing until the whiff of bubbliness returns. As soon as it does I expect all diligence to fly out the window once more.
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stompix
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September 04, 2019, 02:59:35 PM |
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~ This is NOTHING like the dot com bubble. The dot com bubble was $10 TRILLION in 1999, which is probably equivalent to $15+ Trillion today. So we have a long ways to go before we get to those proportions. The last alt/btc bubble didn't even make it to $1 Trillion. Plus the dot com bubble was US based. Crypto is world wide. A crash is still a crash, no matter if there are 3 or 15 cars in the accident, and to those hurt in the accident or killed in it it doesn't really matter the size of it. Same when there is a financial crash, a stock bubble when you start losing money it doesn't matter that others are losing billions or trillions. And I said "like" it, not the same size or anything else. But if you check the first few pages in altcoins and tokens you can see the similarities, those "project" are 100x more ridiculous than the ones that failed in the dot com bubble. But alts (at least the decent ones with real applications and teams) will rise again.
Hmm, are there more than ten that have a unique real-world application that can't be done with BTC? I seriously doubt it. I was talking about how alts and shitcoins are attracting less and less money, market cap is very bad indicator for this. And let me give you an example: A 50 000$ coin buy in some shitcoin might trigger a 5 cent uptick and with 100 millions coins that's a raise of 5 million$ market cap. So, how much money has flown into that coin? 50 000$ or 5 million? The dotcom bubble consisted of - Hey, here's this new thing. Looks sleek. Looks sexy. Buzzwords. Guess it must be worth something. BUBBLE. Then it cratered for years. Then some real usage was figured out long after almost all of the stuff that bubbled died.
That's exactly how I expect crypto to play out too. The question is was the 2017 alt bubble dotcom in miniature while Bitcoin was the internet itself all along? Or is it the true dotcom moment yet to come? It's going to take a long time to find out.
Exactly my point. All these ICOs are the same as a lot of defunct web companies that promised things poeple don't need, have no interst in it and there are already companies in the market doing that nusiness far better without any shitcoin help.
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bryant.coleman
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September 05, 2019, 02:13:30 AM |
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Hmm, are there more than ten that have a unique real-world application that can't be done with BTC? I seriously doubt it. There were quite a few decent ideas. But the problem is that these "ideas" were not converted in to reality. For example, Tron (TRX) was created as a content distribution platform for the digital entertainment industry. And how many are using TRX for this purpose right now? TRX is a good example of what is wrong with the altcoins. There were a few good ideas, but the developers failed to finish the project. Too much hype was given to many of these projetcs, even before the initial round of development was complete. And check the exchange rates for TRX. It has been a bloodbath. The coin has lost more than 60% of its value in the last two months and there is hardly any demand from the buyers. All the drama regarding the ($1 million) lunch with Warren Buffet failed to prop up the coin. If Justin Sun is serious about TRX, then he should concentrate on the development rather than indulging in theatrics.
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windjc
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September 05, 2019, 06:31:48 AM |
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This is NOTHING like the dot com bubble. The dot com bubble was $10 TRILLION in 1999, which is probably equivalent to $15+ Trillion today.
this is nothing like that but it has nothing to do with the size. in dot com bubble people were buying things that made sense, but in altcoin bubble they are buying into a pump of a useless thing that has no reason to exist. There will be another ALT bubble. But alts are going to continue to die until BTC is above ATHs. Once there is excess money to go around, it will start to flow back into alts. But the alt bear needs to be proportional the alt bull. The alt bull was huge compared to the last btc bull market. So now it has to bleed some more first.
you are wrong. the problem with altcoins is their lack of usage. basically they are created with one purpose in mind, to get pumped and dumped. so what we have is small periods where manipulators (market influencers) pump these coins artificially so that they can make money in short term and dump them right afterwards. so what happens is that it doesn't matter what bitcoin does and where it is regarding its price, these pumpers are pumping these shitcoins 24/7/365 but sometimes since there is more newbies around they can pump shitcoins more than usual. otherwise "excess" money never goes into these shitcoins because they are super risky. With all due respect, it is posts like yours that give me confidence that there will be another large - maybe even larger - alt bubble in the future. As soon as people start saying something can't happen because enter (humans wont do irrational things because it wouldnt make sense) here then, in the crypto world, I just say "Oh yeah? Then watch."
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exstasie
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September 05, 2019, 07:20:08 AM |
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you are wrong. the problem with altcoins is their lack of usage. basically they are created with one purpose in mind, to get pumped and dumped. so what we have is small periods where manipulators (market influencers) pump these coins artificially so that they can make money in short term and dump them right afterwards. so what happens is that it doesn't matter what bitcoin does and where it is regarding its price, these pumpers are pumping these shitcoins 24/7/365 but sometimes since there is more newbies around they can pump shitcoins more than usual. otherwise "excess" money never goes into these shitcoins because they are super risky.
With all due respect, it is posts like yours that give me confidence that there will be another large - maybe even larger - alt bubble in the future. As soon as people start saying something can't happen because enter (humans wont do irrational things because it wouldnt make sense) here then, in the crypto world, I just say "Oh yeah? Then watch." I'm amazed at how many old timers there are who lived through 2013 and 2017 and still believe altcoins will never bubble again. I'm glad too. There's a lot of that sentiment going around. By the time BTC is testing the ATH, we'll probably be seeing the final ALT/BTC capitulation. It's always darkest before dawn. I can't wait for the next altcoin season. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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stompix
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September 05, 2019, 02:07:41 PM |
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Hmm, are there more than ten that have a unique real-world application that can't be done with BTC? I seriously doubt it. There were quite a few decent ideas. That's the most important word. A few! Not 2648 (still listed on cmc) and probably another few thousand dead. People will soon have to understand that if crypto is designed to do something like car-sharing or lemon juice labbeling it doesn't have to also be tradeable and raise in price to the moon. There are thousands of private companies out there getting more revenue than public traded ones, there are companies with literally no trading volume but who pay dividends with clockwork precision, and the altcoin market will have to mature also. Those alts have no other purpose than making the 'dev" team rich and maybe a few holders who bought at the right time but other than that they are just used for gambling ..err trading. Not going to strike that since is quite the same. I'm amazed at how many old timers there are who lived through 2013 and 2017 and still believe altcoins will never bubble again. I'm glad too. There's a lot of that sentiment going around. By the time BTC is testing the ATH, we'll probably be seeing the final ALT/BTC capitulation. It's always darkest before dawn. I can't wait for the next altcoin season. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) You're probably mistaken what some of us say here. Alts will have their place in the market, but real altcoins, the few that actually can be used for something other than trading, not the shitcoins we're seeing right now in the top 100 on CMC. Just like the dotcom bubble cleared a lot of the history companies out there and far stronger and healthier ones have appeared and succeded where those have failed.
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exstasie
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September 05, 2019, 06:34:27 PM |
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I'm amazed at how many old timers there are who lived through 2013 and 2017 and still believe altcoins will never bubble again. I'm glad too. There's a lot of that sentiment going around. By the time BTC is testing the ATH, we'll probably be seeing the final ALT/BTC capitulation. It's always darkest before dawn. I can't wait for the next altcoin season. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) You're probably mistaken what some of us say here. Alts will have their place in the market, but real altcoins, the few that actually can be used for something other than trading, not the shitcoins we're seeing right now in the top 100 on CMC. Just like the dotcom bubble cleared a lot of the history companies out there and far stronger and healthier ones have appeared and succeded where those have failed. Thousands of altcoins are already in the graveyard. The ones that can't retain market listings through the bear phase risk completely disappearing from the market. That's already happened. There have been massive de-listings recently and there may be more coming. It's all about timing. When altcoin season eventually arrives, basically every coin still listed on decent altcoin exchanges will get pumped at some point. That's what people around here don't understand. They keep trying to apply rationality to an irrational market. Nobody gives a shit about fundamentals during a bubble. New money is just desperate to get into something, anything, before it's too late. The comparisons to the dotcom bubble (as if it's already happened) don't make sense. The altcoin market is in a much more nascent state then that. Clearly there is no Amazon or Google or Facebook. This is probably more like the pre-Yahoo stages where everything is still complete shit. I think it's simply crazy to assume the market has already "matured" and that over-speculation is unlikely to continue.
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