Bitcoin dominance hits 43%, alts surging ahead

[TheNewAnon135246]

The previous 'alt seasons' happened AFTER the BTC halving so this might take a while .

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[exstasie]

The previous 'alt seasons' happened AFTER the BTC halving so this might take a while .

Good point, but here's something else to consider. The 2014-2015 bear market was decidedly longer than the 2018 bear market, by about 8 months. So maybe the halving gets front run by 6 months or a year this time, and everything unfolds more quickly.

I think the relationship between BTC and alts has much more to do with BTCUSD price than halvings or any fundamentals like that.

[STT]

On the last halvening, it was hyped and the price did rise.   I guess percentages matter here because it was only hundreds at the time but still there was lots of bullish talk, its coming its coming.   This is an easy bet, its for sure going to take off as soon as the block reward halves.  
   But that isnt really true, the whole process is like a year long transformation to the supply of less BTC per block.   The actual date of change means on that day every ten minutes its half as much, and it doesnt matter at all because thats barely anything vs the large amounts of BTC stacked up either side on the markets all around us.     Eventually there is a cumulative influence, a tightening and I think that has to be at least a year.

    Anyone buying for that reason or speculating is way too early anyway but it doesnt matter because its a non event, boring but true sorry.   Also every echo of this block reward event is half as important as the last, so double everything I just said.   It mostly went down after BTC halving short term anyhow, maybe the deflation in expectations in some way distributed and helped alt coins but afterwards can probably go holiday for rest of the year and not miss that much in terms of accelerated moves or trend transformation.
   However I'm always too cynical for BTC it seems, I'd be a millionaire a few times over and broke again in a Jesse Livermore kind of way if I believed 100% in many tech ideas occuring during my trading life.

there are who lived through 2013 and 2017 and still believe altcoins will never bubble again.

I'll believe it if theres a reason why.   People might dislike the ETH token thing and ICO and that kind of expansion but it explained why, anyone who paid attention and could foresee that did well.
    What should be driving the next alt coin phase should be efficiency, development, end user experience and engagement.   Its totally possible if they hook into the world economy and provide utility.   Hopefully its more then the idea and is an actual thing, I'd love to see genuine advancement and price doesnt matter if actual progress occurs.
    I always thought POS should have a turn, it could be a thing of the people and I've never found a good argument why it couldn't be a technology utilised.   Ideas have to be tested, economically the market is part of that I guess.   The ETH take on POS is not what I mean as it doesnt include the smallest 'bits' of the economy, thats where I see the power for growth.

[gentlemand]

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.

The bolded bit is v interesting to me. I well and truly can't believe the current crop of exchanges is where the market will settle. The money required for something dotcom sized will be on established channels, not new ones.

I don't believe those types of places will have the slightest interest in listing all but a handful of alts. The days of a one page website and white paper shitcoin being exposed to the premier league are dwindling and probably gone already.

We're heading towards a two tier, or multiple tier, market. There'll be the super casinos glittering up front and the grind joints lurking in the shadows.

[exstasie]

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.

The bolded bit is v interesting to me. I well and truly can't believe the current crop of exchanges is where the market will settle. The money required for something dotcom sized will be on established channels, not new ones.

I don't believe those types of places will have the slightest interest in listing all but a handful of alts.

But we're nowhere near the market settling or a dot-com sized bubble. We're just on the cusp of the next bubble. There's no reason to speculate about what might happen 10 or 20 years down the line when the market is finally "mature" or something. I'm just interested in what's going to happen in the next year or two. Altcoins are still very much a retail affair.

[Vishnu.Reang]

I have edited my original post, as the Bitcoin dominance is increasing too fast. In my original post, I had posted that we'll see a dominance of 70% by the end of this year. And with four months to go, we have reached 71.2%. So I changed my prediction to 80% by the end of 2019. Altcoins, irrespective of their market cap are steadily marching to the graveyard. Give me an example of a single altcoin, which has increased its market share during the last 4 months.

[Pab]

All big cap alts are indeed altcoins
I agree in a case of TRX it is ugly Ponzi by my opinion
I don't like xrp because it was premined coin however xrp will rebound at some moment
Personally i like both dash and LTC
I am waiting for Ltc at price 50$ or even 45$ then LTC can nicely recover
ETH is coin what is most hard to trade to me
But that so fast rising bitcoin dominance is not good for btc also
Now we have nice btc pump but look volume it is so low

[bryant.coleman]

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%

OK... Here are the updated numbers, after 4 days. See how much change occurred in just four days!!!

Total crypto market cap: $262,267,007,642

Bitcoin: $185,986,798,673 (70.915%)
Bitcoin forks: $7,807,050,930 (2.977%)
Stablecoins: $4,946,733,307 (1.886%)
Altcoins: $63,526,424,732 (24.222%)

This is the change compared to my last post:

Bitcoin: +0.879%
Bitcoin forks: -0.059%
Stablecoins: 0.044%
Altcoins: -0.864%

[Herbert2020]

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."

to be clear the part i disagreed with and said "you are wrong" is not the altcoin bubble/pumps. as i said, the altcoins will pump again as many are already pumping big time and reaching big bubbles. in fact i don't even deny altcoin season and their massive bubbles. we will continue seeing a huge market wide altcoin bubble every 2 years at least.

the part i am disagreeing with was the "excess money going from bitcoin to altcoins". that simply is wrong in my experience. for starters people invest their bitcoin in altcoins not their money. and as i explained in details the altcoin pumps only fool newbies to "invest" others are just participating in them during the pumps.

[Vishnu.Reang]

to be clear the part i disagreed with and said "you are wrong" is not the altcoin bubble/pumps. as i said, the altcoins will pump again as many are already pumping big time and reaching big bubbles. in fact i don't even deny altcoin season and their massive bubbles. we will continue seeing a huge market wide altcoin bubble every 2 years at least.

the part i am disagreeing with was the "excess money going from bitcoin to altcoins". that simply is wrong in my experience. for starters people invest their bitcoin in altcoins not their money. and as i explained in details the altcoin pumps only fool newbies to "invest" others are just participating in them during the pumps.

There should be a reason for the investors to pump these altcoins. So what will be the reason or a possible trigger in your opinion? Back in 2017, it was the ICO boom that caused the alt prices to go up like crazy (in particular, Ethereum went up by 10,000% in 2017). I can't think of a trigger happening anytime in the next 12 months. The ICOs are dead. Good IEOs are few and far in between. And while we debate about all this, the Bitcoin dominance continues to increase, approximately at a rate of 1% per week.

[Rustamm]

In the last 24 hours, the dominance of BTC has declined slightly due to higher prices for most altcoins. It is possible that the altcoins price increase is associated with the Ethereum price increase, but I did not find any convincing news on this subject, so it is not clear to me what this situation in the crypto market is connected with.

[gentlemand]

There should be a reason for the investors to pump these altcoins. So what will be the reason or a possible trigger in your opinion? Back in 2017, it was the ICO boom that caused the alt prices to go up like crazy (in particular, Ethereum went up by 10,000% in 2017). I can't think of a trigger happening anytime in the next 12 months.

I find it a bit odd that so few mention ICOs as one of the prime reasons for Bitcoin itself to pump in 2017. It was still the main gateway to enter altland.

All alts need to be to bubble is alive and cheaper than BTC if BTC takes off properly. It might not sustain or be as epic but it'll happen.

[figmentofmyass]

There should be a reason for the investors to pump these altcoins. So what will be the reason or a possible trigger in your opinion? Back in 2017, it was the ICO boom that caused the alt prices to go up like crazy (in particular, Ethereum went up by 10,000% in 2017). I can't think of a trigger happening anytime in the next 12 months.

nobody ever sees it coming. that's how it works. you think in 2016 people were predicting ICOs would take off? of course not. something will get hyped like ICOs. it doesn't matter what it is. fundamentals don't matter in a bubble.

I find it a bit odd that so few mention ICOs as one of the prime reasons for Bitcoin itself to pump in 2017. It was still the main gateway to enter altland.

it's a symbiotic relationship. but i would say that bitcoin allows altcoins to bubble, not the other way around. it was bitcoin's bull market and new ATH that fomented the ICO bubble in the first place. altcoins can't bubble on their own.

[Herbert2020]

to be clear the part i disagreed with and said "you are wrong" is not the altcoin bubble/pumps. as i said, the altcoins will pump again as many are already pumping big time and reaching big bubbles. in fact i don't even deny altcoin season and their massive bubbles. we will continue seeing a huge market wide altcoin bubble every 2 years at least.

the part i am disagreeing with was the "excess money going from bitcoin to altcoins". that simply is wrong in my experience. for starters people invest their bitcoin in altcoins not their money. and as i explained in details the altcoin pumps only fool newbies to "invest" others are just participating in them during the pumps.

There should be a reason for the investors to pump these altcoins. So what will be the reason or a possible trigger in your opinion? Back in 2017, it was the ICO boom that caused the alt prices to go up like crazy (in particular, Ethereum went up by 10,000% in 2017). I can't think of a trigger happening anytime in the next 12 months. The ICOs are dead. Good IEOs are few and far in between. And while we debate about all this, the Bitcoin dominance continues to increase, approximately at a rate of 1% per week.

ICO, etc. are only catalysts not the reasons or triggers. they are helping the big pumps take place easier and help the size of them become bigger by bringing more newbies into the altcoin market with a lot of money in total.

otherwise the altcoin pumps happen for only one reason: to make profit.
they are already happening too. if you check the market you will always find at least 3 to 5 different altcoins that are getting pumped hard in that day. that's just the nature of the altcoin market to be pumped and dumped every day.
but the market-wide pumps can't happen yet because
- newbies who got dumped on have exited the market not looking back or moved to bitcoin and won't touch altcoins at least for a long time if not forever.
- newbie bag holders have their money tied up into big shitcoins like etherum, ripple,... and are in 80% to 95% loss already, they can't participate in anything else.
so until this changes the pumpers can't do anything major all over the altcoin market.

[bryant.coleman]

OK... Here are the updated numbers, after 4 days. See how much change occurred in just four days!!!

Total crypto market cap: $262,267,007,642

Bitcoin: $185,986,798,673 (70.915%)
Bitcoin forks: $7,807,050,930 (2.977%)
Stablecoins: $4,946,733,307 (1.886%)
Altcoins: $63,526,424,732 (24.222%)

This is the change compared to my last post:

Bitcoin: +0.879%
Bitcoin forks: -0.059%
Stablecoins: 0.044%
Altcoins: -0.864%

The last 4-5 days were good for Altcoins. But still there is no sign that the altcoin prices are stabilizing. Here is the latest market cap figures:

Total crypto market cap: $262,692,257,278

Bitcoin: $184,302,075,424 (70.159%)
Bitcoin forks: $7,820,814,162 (2.977%)
Stablecoins: $4,966,908,159 (1.891%)
Altcoins: $65,602,459,533 (24.973%)

This is the change compared to my last post:

Bitcoin: -0.756%
Bitcoin forks: 0.000%
Stablecoins: +0.005%
Altcoins: +0.751%

[Vishnu.Reang]

For a while, the Bitcoin dominance had declined to sub-70 levels, but now once again it is back to 70.3%. Altcoins are showing no sign of recovery, including the established coins such as Ethereum, Ripple and Litecoin. One thing that concerns me the most is the rising market share of Tether (USDT). Now the market cap has risen to more than $4.1 billion, despite their issues with the NYAG.

[bryant.coleman]

Total crypto market cap: $262,692,257,278

Bitcoin: $184,302,075,424 (70.159%)
Bitcoin forks: $7,820,814,162 (2.977%)
Stablecoins: $4,966,908,159 (1.891%)
Altcoins: $65,602,459,533 (24.973%)

This is the change compared to my last post:

Bitcoin: -0.756%
Bitcoin forks: 0.000%
Stablecoins: +0.005%
Altcoins: +0.751%

There is good news for the altcoin holders. The Bitcoin dominance has declined by close to 2% and there is a corresponding increase in the share for the altcoins. The Bitcoin forks are also showing a slight increase, while the stable coins shows a slight decline due to the overall increase in the total crypto market cap.

Total crypto market cap: $262,692,257,278

Bitcoin: $184,227,971,775 (67.824%)
Bitcoin forks: $8,423,584,195 (3.101%)
Stablecoins: $4,968,632,750 (1.829%)
Altcoins: $74,005,475,392 (27.245%)

This is the change compared to my last post:

Bitcoin: -2.335%
Bitcoin forks: +0.124%
Stablecoins: -0.062%
Altcoins: +2.272%

[pooya87]

There is good news for the altcoin holders. The Bitcoin dominance has declined by close to 2% and there is a corresponding increase in the share for the altcoins.

the altcoin "holders" are currently in at least 85% loss and at most 98% loss. seeing some small pumps here and there is not considered good news for them!
as for this supposed decline, it is the natural thing to happen when bitcoin price becomes stable and as it was completely stable with less than 1% fluctuations, the altcoin pumps began and some of the shitcoins with biggest supplies such as XRP got pumped recently leading to their market cap to bloat hence decreasing the "market cap ratio" by around 2%.

as you can see as the stability stopped (bitcoin price dropped ~4% today) the same pumped altcoins got dumped hard. for instance XRP lost 7%, XLM 10%,...

[peter0425]

That’s the highest dominance Bitcoin ever had because until today the cap is dropping and just this moment  we are on 66% domination 5% lower from that record

For a while, the Bitcoin dominance had declined to sub-70 levels, but now once again it is back to 70.3%. Altcoins are showing no sign of recovery, including the established coins such as Ethereum, Ripple and Litecoin. One thing that concerns me the most is the rising market share of Tether (USDT). Now the market cap has risen to more than $4.1 billion, despite their issues with the NYAG.

That’s also my concern the growing market of Tether things that may affect the bitcoin and altcoin growth in future if this continue

[gentlemand]

So how would people feel if the dominance peak has been and gone for this round?

I would not be totally surprised. The 90% fans aren't being super realistic. Regardless of whatever I'd prefer to see a better way of measuring the whole thing because as it stands it's a silly and easily gamed metric. It has been a good reminder to those flippening zombies where the real power lies though.