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Author Topic: Bitcoin dominance hits 71.2%, alts lagging behind  (Read 2004 times)
gentlemand
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August 17, 2019, 02:08:01 PM
 #201

Seriously does anyone remember when was the last time we peaked like this? Bitcoin price is not that high neither, I mean it went up for sure but than altcoins didn't catch up to it. Normally, when bitcoin price goes up than altcoin prices go down so dominance going up is something expected but than when bitcoin price stops like it is stopping right now all other altcoins start to go back up the price what it used to be, right now its not doing that anymore.

It's only during a handful of very short periods that dominance went below 80% previous to 2017. Before that the idea it could've gotten as low as 30 something percent would've been considered beyond laughable.

It's unwise to predict any future behaviour off one insane alt bubble. It's never happened before. It may never happen again. It's going to take a few years before we can tell.

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August 17, 2019, 07:06:48 PM
 #202

I know there was a way to check the bitcoin dominance per specific day on coinmarketcap.  Such as it showed the entire list any day you want.  Can someone tell me how to do this on coinmarketcap.com?
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August 17, 2019, 07:27:35 PM
 #203

I know there was a way to check the bitcoin dominance per specific day on coinmarketcap.  Such as it showed the entire list any day you want.  Can someone tell me how to do this on coinmarketcap.com?

https://coinmarketcap.com/charts/

It's here on this page. It's the third chart down. You can fiddle with multiple time frames and remove or add specific coins too if you want more detail. There are some pretty bonkers oscillations in there.

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August 18, 2019, 03:35:39 PM
 #204

Checked the recent data from coinmarketcap, and this is what I got:

Total crypto market cap: $305,934,615,009

Bitcoin: $206,705,878,586 (67.660%)
Bitcoin forks: $9,413,859,758 (3.081%)
Stablecoins: $4,902,283,349 (1.605%)
Altcoins: $84,485,146,893 (27.654%)

The interesting thing to note here is that the market share of the Bitcoin forks (such as Bitcoin Cash and Bitcoin SV) have grown, while that of the altcoins went down by close to 10%. Overall, the market cap of the stable coins have also risen.

This is the latest data, from coinmarketcap:

Total crypto market cap: $271,962,154,671

Bitcoin: $186,423,237,080 (68.547%)
Bitcoin forks: $8,554,473,176 (3.145%)
Stablecoins: $4,856,775,322 (1.786%)
Altcoins: $72,127,669,093 (26.521%)

This is the change compared to my last post:

Bitcoin: +0.887%
Bitcoin forks: +0.064%
Stablecoins: +0.181%
Altcoins: -1.133%

The figures just confirm that the alts are still going through a bearish phase, while all the others (BTC, BTC forks, stablecoins.etc) are having growing market shares.

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August 22, 2019, 08:28:12 PM
 #205

Although Bitcoin’s dominance is currently in a bearish posture, altcoin dominance is sitting in the “golden” retracement area based on the Fibonacci retracement indicator.In the meantime, the top four altcoins—Ethereum, XRP, Bitcoin Cash, and Litecoin—seem to have entered a consolidation phase since July 15, 2019. On the 12-hour chart of these altcoins, the Bollinger bands appear to be squeezing, which indicates that they are indeed consolidating. Squeezes are followed by periods of high volatility. The longer the squeeze the higher the probability of a strong breakout.
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September 03, 2019, 01:41:55 AM
 #206

This is the latest data, from coinmarketcap:

Total crypto market cap: $271,962,154,671

Bitcoin: $186,423,237,080 (68.547%)
Bitcoin forks: $8,554,473,176 (3.145%)
Stablecoins: $4,856,775,322 (1.786%)
Altcoins: $72,127,669,093 (26.521%)

This is the change compared to my last post:

Bitcoin: +0.887%
Bitcoin forks: +0.064%
Stablecoins: +0.181%
Altcoins: -1.133%

The figures just confirm that the alts are still going through a bearish phase, while all the others (BTC, BTC forks, stablecoins.etc) are having growing market shares.

The good news is that the Bitcoin dominance has now breached the 70% level and it is surging ahead without any major obstacles. At this rate, I would say that 80% by the end of this year is very much of a possibility.

Total crypto market cap: $264,545,070,441

Bitcoin: $185,277,223,031 (70.036%)
Bitcoin forks: $8,030,578,364 (3.036%)
Stablecoins: $4,872,961,419 (1.842%)
Altcoins: $66,364,307,627 (25.086%)

This is the change compared to my last post:

Bitcoin: +1.489%
Bitcoin forks: -0.110%
Stablecoins: +0.056%
Altcoins: -1.435%

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September 03, 2019, 05:10:02 AM
 #207

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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September 03, 2019, 05:30:37 AM
Merited by malevolent (1)
 #208

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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September 03, 2019, 07:07:19 AM
 #209

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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September 03, 2019, 07:49:47 AM
 #210

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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September 03, 2019, 09:38:42 AM
 #211

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
 #212

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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September 03, 2019, 05:47:36 PM
 #213

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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September 03, 2019, 06:17:42 PM
 #214

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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September 03, 2019, 06:23:16 PM
 #215

I don't know about you but focusing entirely at Bitcoin dominance is half the picture. I also look at the total marketcap of all coins (Bitcoin and alts) https://charts.cointrader.pro/charts.html?coin=MARKETCAP-TOTAL%3AMARKETCAP

It tells me where the money is flowing. So far, it's mostly on Bitcoin.



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bryant.coleman
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September 04, 2019, 01:44:33 AM
 #216

I don't know about you but focusing entirely at Bitcoin dominance is half the picture. I also look at the total marketcap of all coins (Bitcoin and alts) https://charts.cointrader.pro/charts.html?coin=MARKETCAP-TOTAL%3AMARKETCAP

It tells me where the money is flowing. So far, it's mostly on Bitcoin.

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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September 04, 2019, 04:40:42 AM
Merited by exstasie (1)
 #217

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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September 04, 2019, 05:01:50 AM
 #218

<snip>
But alts (at least the decent ones with real applications and teams) will rise again.

Yeah like Dogecoin  Wink Cheesy

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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September 04, 2019, 06:14:03 AM
 #219

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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September 04, 2019, 09:42:17 AM
Merited by stompix (1)
 #220

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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