Bitcoin dominance hits 43%, alts surging ahead

[Ziskinberg]

I think this analogy doesn't work and won't work anymore. I see no reason why the revolution that took place with the emergence of ETH would be repeated. Altcoins have occupied the available niches and most of them die - only the most effective ones remain. Even if the market grows exponentially in some areas, these will be separate areas, not new altcoins.

Cryptocurrency market doesn't behave in the same way as we expect it. After there was a major crash in 2018, I expected the shitcoins to go extinct very soon. But that hasn't happened. Although Bitcoin dominance has increased, a large fraction of the cryptocurrency market cap is still being held by various shitcoins with no practical usage. And I have to disagree with you on new altcoins. There will be an influx of new coins in the near future, as the demand is there in the market. Many of the recent altcoins have become very successful, and examples are Polkadot and Aave.

Perhaps you consider all altcoins to be shitcoins? Personally, I see that there are only demanded coins left on the market or those coins that are being actively worked on and they have a future. Many shitcoins are either completely dead, or formally exist and even have some (formal) trading volume, but in fact they are already dead.

That's a wrong perception, only investor with enough knowledge would understand that altcoins is not scam, it's true that majority of altcoins are scam but we can't deny the fact that that a huge portion of the entire marketcap of altcoins belongs to the legit projects, and they have investors now although we also can't deny that bitcoin is still more popular and bigger of all legit altcoins combine, except for stable coins.

[1715373578]

1715373578

[bryant.coleman]

That's a wrong perception, only investor with enough knowledge would understand that altcoins is not scam, it's true that majority of altcoins are scam but we can't deny the fact that that a huge portion of the entire marketcap of altcoins belongs to the legit projects, and they have investors now although we also can't deny that bitcoin is still more popular and bigger of all legit altcoins combine, except for stable coins.

I would argue that any altcoin or token, without real life usage is a shitcoin. If we go by that definition, then it can be seen that anywhere from 90% to 95% of the altcoins come under that category. Now the question is whether they are extinct or not. The answer is no. Some of them (perhaps accounting for a majority) are dead, but thousands of shitcoins are still listed in various exchanges and they are being actively traded.

[bryant.coleman]

Another round of hammering for the altcoins.

As of 23rd December 2020:

Total market cap: $644,601,851,260 (-1.04%)

Bitcoin: $435,559,726,820 (67.570%)
Bitcoin forks: $9,063,510,413 (1.406%)
Stablecoins: $26,412,377,495 (4.097%)
Altcoins: $173,566,236,532 (26.926%)

This is the change compared to my last post:

Bitcoin: +2.170%
Bitcoin forks: -0.049%
Stablecoins: +0.117%
Altcoins: -2.238%

Once again, the altcoins have gone below 30%.

As of 18th December 2020:

Total market cap: $651,397,390,156 (+14.94%)

Bitcoin: $426,016,106,751 (65.400%)
Bitcoin forks: $9,480,170,364 (1.455%)
Stablecoins: $25,927,811,234 (3.980%)
Altcoins: $189,973,301,807 (29.164%)

This is the change compared to my last post:

Bitcoin: +2.046%
Bitcoin forks: -0.042%
Stablecoins: -0.523%
Altcoins: -1.481%

[AjithBtc]

The dominance level of bitcoin increasing with time is happening as a result of more and more institutional funds coming into bitcoin. During the previous bull run, the altcoin market too grew along with bitcoin. This time the growth pattern seems to be different, there is no mutual growth. This is what making the altcoins get lagged, maybe a push out of new updates to the network could help the altcoin market grow high.

[GelatikKembar]

yes this is what makes altcoins go down considerably, altcoins are very dependent on dominance,
it is very easy to analyze, if bitcoin dominance goes up then you have to worry about altcoins, because a dump will occur,
and if dominance goes down, altcoins will pump.

[KTChampions]

I would argue that any altcoin or token, without real life usage is a shitcoin. If we go by that definition, then it can be seen that anywhere from 90% to 95% of the altcoins come under that category. Now the question is whether they are extinct or not. The answer is no. Some of them (perhaps accounting for a majority) are dead, but thousands of shitcoins are still listed in various exchanges and they are being actively traded.

I would clarify this point - some (very small) of these altcoins still have some perspective, although at the moment they do not have any use. Anyone who guesses or through analysis will be able to identify these altcoins will get a good return on investment in them, but about most of them you are undoubtedly right - they are dead.

[bryant.coleman]

I would clarify this point - some (very small) of these altcoins still have some perspective, although at the moment they do not have any use. Anyone who guesses or through analysis will be able to identify these altcoins will get a good return on investment in them, but about most of them you are undoubtedly right - they are dead.

I can give you an example of one such coin. It is Deep Onion. I was a participant in the Deep Onion bounty campaign of 2017-18, and till date it was my most profitable bounty/signature campaign. However in 2018, similar to most of the other altcoins the exchange rates crashed by 98%-99%. However what differentiates the Deep Onion team from others is that they are still working hard on the development, unlike other shitcoins where the promoters have already made their exit. Currently, not many people are using Deep Onion for its intended purpose (for making anonymous payments). But there is a good chance that in the future this coin may find some level of acceptability.

[KTChampions]

I would clarify this point - some (very small) of these altcoins still have some perspective, although at the moment they do not have any use. Anyone who guesses or through analysis will be able to identify these altcoins will get a good return on investment in them, but about most of them you are undoubtedly right - they are dead.

I can give you an example of one such coin. It is Deep Onion. I was a participant in the Deep Onion bounty campaign of 2017-18, and till date it was my most profitable bounty/signature campaign. However in 2018, similar to most of the other altcoins the exchange rates crashed by 98%-99%. However what differentiates the Deep Onion team from others is that they are still working hard on the development, unlike other shitcoins where the promoters have already made their exit. Currently, not many people are using Deep Onion for its intended purpose (for making anonymous payments). But there is a good chance that in the future this coin may find some level of acceptability.

Oh! By the way, I followed this coin, and to be honest, it seemed to me an absolutely empty project (especially after the collapse and after they abandoned their roadmap and decided to rewrite the project on the bitcoin blockchain). Are they still working/creating visibility on the project? I gave up watching them long ago.

[jerry0]

Does anyone who own both btc and altcoins want the dominance to go even higher?  Im not sure what to think here.  I guess if you own more btc... you want dominance higher... and obviously if you only own altcoin, then obviously opposite?



Feels strange if you own both.

[JayJuanGee]

Does anyone who own both btc and altcoins want the dominance to go even higher?  Im not sure what to think here.  I guess if you own more btc... you want dominance higher... and obviously if you only own altcoin, then obviously opposite?



Feels strange if you own both.

It probably feels strange because your proportion of shitcoins is higher than it should be..

Probably you should have less than 10% of your total crypto portfolio dedicated to various shitcoins. .then it would not feel so strange


But, yeah, continue to hope for various shitcoins to pump.. maybe they will and maybe they won't... Yet, we can see bitcoin is within a kind of expectation of behavior (even if it feeling a bit bullish), and shitcoins are likely all over the place in terms of performance respective to bitcoin. .. but really showing their lackenings in fundamentals, currently.

[bryant.coleman]

Oh! By the way, I followed this coin, and to be honest, it seemed to me an absolutely empty project (especially after the collapse and after they abandoned their roadmap and decided to rewrite the project on the bitcoin blockchain). Are they still working/creating visibility on the project? I gave up watching them long ago.

In that case my bad. I just wanted to give on example. I sold most of my coins in 2018, but back then it looked like the developers were still working hard to revive the project. Even in 2019, the community was quite active and hot fixes and new wallet versions were being released. It was a promising project, and at one point the exchange rate topped BTC0.001 per coin.

[Ziskinberg]

Now we can say that bitcoin is already comfortable with a dominant rate of 71.2% per https://coinmarketcap.com/
Is it possible for it to continue to rise? or it will fall back as the correction will soon happen?

What are your thoughts this year, or early next year?

[bryant.coleman]

As of 28th December 2020:

Total market cap: $721,501,598,964 (+11.93%) (This is still around 10% lower than the peak level reached on January 2018).

Bitcoin: $502,191,815,557 (69.604%)
Bitcoin forks: $9,711,905,465 (1.346%)
Stablecoins: $27,001,265,269 (3.742%)
Altcoins: $182,596,612,673 (25.308%)

This is the change compared to my last post:

Bitcoin: +2.033%
Bitcoin forks: -0.060%
Stablecoins: -0.355%
Altcoins: -1.618%

Another round of hammering for the altcoins.

As of 23rd December 2020:

Total market cap: $644,601,851,260 (-1.04%)

Bitcoin: $435,559,726,820 (67.570%)
Bitcoin forks: $9,063,510,413 (1.406%)
Stablecoins: $26,412,377,495 (4.097%)
Altcoins: $173,566,236,532 (26.926%)

This is the change compared to my last post:

Bitcoin: +2.170%
Bitcoin forks: -0.049%
Stablecoins: +0.117%
Altcoins: -2.238%

[Kopetunto]

70% now the market is controlled by Bitcoin alone,
of course this makes the price of Bitcoin continue to increase, it is very easy to predict,
I can't imagine if bitcoin dominance reaches 90%, and altcoins will become ashes if a sudden dump occurs in bitcoin.

[Maslate]

70% now the market is controlled by Bitcoin alone,
of course this makes the price of Bitcoin continue to increase, it is very easy to predict,
I can't imagine if bitcoin dominance reaches 90%, and altcoins will become ashes if a sudden dump occurs in bitcoin.

I hope bitcoin dominance will not reach that high, you are correct, that will turn altcoins into ashes. I just can't believe how bitcoin pumped this high, it looks like it's not stopping anytime and  it really end well this year and we will have a good start until the new year.

[bryant.coleman]

Here are the latest stats, as of 3rd January 2021.

From this post onward, I have added the market cap of Wrapped Bitcoin (WBTC) to that of Bitcoin. Earlier it was included within the altcoin section.

Total market cap: $876,467,330,368 (+21.48%) (All time high, around 10% higher than the peak level of 2018).

Bitcoin: $636,082,722,096 (72.573%)
Bitcoin forks: $10,719,023,429 (1.223%)
Stablecoins: $28,567,926,171 (3.259%)
Altcoins: $201,097,658,672 (22.944%)

This is the change compared to my last post:

Bitcoin: +2.970%
Bitcoin forks: -0.123%
Stablecoins: -0.483%
Altcoins: -2.364%

As of 28th December 2020:

Total market cap: $721,501,598,964 (+11.93%) (This is still around 10% lower than the peak level reached on January 2018).

Bitcoin: $502,191,815,557 (69.604%)
Bitcoin forks: $9,711,905,465 (1.346%)
Stablecoins: $27,001,265,269 (3.742%)
Altcoins: $182,596,612,673 (25.308%)

This is the change compared to my last post:

Bitcoin: +2.033%
Bitcoin forks: -0.060%
Stablecoins: -0.355%
Altcoins: -1.618%

[Ziskinberg]

70% now the market is controlled by Bitcoin alone,
of course this makes the price of Bitcoin continue to increase, it is very easy to predict,
I can't imagine if bitcoin dominance reaches 90%, and altcoins will become ashes if a sudden dump occurs in bitcoin.

I hope bitcoin dominance will not reach that high, you are correct, that will turn altcoins into ashes. I just can't believe how bitcoin pumped this high, it looks like it's not stopping anytime and  it really end well this year and we will have a good start until the new year.

Bitcoin dominance has increased to 72.2% now, and the total marketcap is at $880 billion, I think as long as bitcoin remains pumping, that will reach to a trillion marketcap and it's because of the big contribution of bitcoin.

[JayJuanGee]

From this post onward, I have added the market cap of Wrapped Bitcoin (WBTC) to that of Bitcoin. Earlier it was included within the altcoin section.

Maybe I do not know enough about the topic Bryant, but something seems wrong about such calculation, and maybe any kinds of coins that are supposedly tethered to BTC should constitute their own category - especially if there might be some lack of clarity regarding what they are doing exactly with those purported BTC.. and wouldn't it end up being a double counting of those BTC anyhow, to add it to the BTC count?

In other words, wouldn't such BTC already be counted in the regular BTC market cap and valuation?  So the fact that they are being held somewhere else or in some other way wouldn't take away from their already being counted in the regular BTC market cap.  Maybe I am missing something about this angle of this topic?

[OgNasty]

Given the amount of new alts constantly being added to the marketplace, it is pretty impressive that Bitcoin has even been able to maintain close to it's dominance.  Especially when you consider how manipulated some of the smaller coins are and the ease at which that can be accomplished.  Granted, Bitcoin's dominance is also a little overstated due to the number of lost coins there are artificially inflating the market cap.

[KTChampions]

Given the amount of new alts constantly being added to the marketplace, it is pretty impressive that Bitcoin has even been able to maintain close to it's dominance.  Especially when you consider how manipulated some of the smaller coins are and the ease at which that can be accomplished.  Granted, Bitcoin's dominance is also a little overstated due to the number of lost coins there are artificially inflating the market cap.

I am more impressed by another trend - the number of transactions in bitcoin in relation to the number of transactions in the entire crypto is steadily falling, but at the same time bitcoin retains its dominance. Maybe the fact is that bitcoin remains in first place in terms of volume ... but I don't think this will last long.