Bitcoin dominance hits 43%, alts surging ahead

[jerry0]

Does anyone here think btc dominance will get back to over say just 65%?  I don't even think so at this point anymore with all these altcoins.

[JayJuanGee]

Thing this has been changed a little bit as BTC dominant is just 47.8 according to coin market cap (https://coinmarketcap.com/charts/) , this is an indication that alts season is on the way

Bitcoin dominance was not this low from mid 2018. I wonder how low it will go this time. Last time the low was at 32%. This time should go below that. But I dont see it going below 20%. We should see in half year time.  In few years time we will also see how high will go again. I dont see it go above 60% anymore.

Bitcoin's dominance fell below 50% and is now going to 40%, the good news is Bitcoin price can stay above $ 50k which is great,
because if Bitcoin can survive and can continue its uptrend then altcoins will really have a good impact,
hold Altcoin will have the opportunity to make you rich in the future.

Sounds pretty retarded for anyone to actually believe that shitcoins are actually a long term HODL opportunity, because much of the strategy with any shitcoin (and that is anything except bitcoin) is that you better hope that you can get out before the thing starts to go down (because there is no there there) whether you are considering a shitcoin like doge or ethereum or if you are thinking about some shit that is built upon ethereum, such as Icos, defi or NFTs..

You better hope to get in and out and make a profit rather than believing some nonsense that there is any security in holding such things such as shitcoins (which means anything besides bitcoin) for the long term as if they might actually have fundamentals.. unless you consider fundamentals to be the ability of one shitcoin to pump another shitcoin, which hardly seems to be anything close to certain, long-term or strong fundamentals to me... .

It’s normal for the newbies/plebs like me to walk on a crooked path during a bull market, and find shitcoins to profit at a faster rate because their price surges are indeed faster. But those newbies will also learn another lesson, the hard way, in the right time.

There is almost always an inclination to gamble, even with people who are relatively conservative investors who know better, and each of us have to attempt to learn from our various mistakes along the way, including that we might have a lot of dumb ideas, including actually believing that there might be some kind of actual value in the various shitcoins merely because they are being pumped or even when they might have a lot of faulty and scammy networking effects that allow them to be pumped way beyond any actual solid foundational value that they might have.

It’s an inclination to gamble for some users, it’s a search for another community of like-minded people, and search for another approach for development of a censorship-resistant cryptocurrency for other users.

So, for sure, I am not against some kind of attempts to manage your portfolio including BTC and shitcoins, but realizing that the shitcoin portions should be more of an in and out game and BTC should be more of a long term strategy that would attempt to involve accumulating, or at least also considering that bitcoin should be the ONLY one that you likely are able to rely upon long term (even if Bitcoin is also not guaranteed, even though it has the strongest of the fundamentals among any of the cryptos - without any one or any group even coming close to it, in spite of short term appearances to the contrary).

There ARE other good coins which are deserving of the HODL, and with smart developers, like Decred and Monero.

Even though I would phrase these matters a bit differently than you, I am not really that interested in continuing to pursue these topics at this time, and largely I don't really disagree with the points that you are making in this particular post.

[jerry0]

How did back then btc dominance even went back up so much?  I remember when btc dominance went really low but at what point did it go back up?  Did alts just didn't go up as much anymore or something?

[Stedsm]

Does anyone here think btc dominance will get back to over say just 65%?  I don't even think so at this point anymore with all these altcoins.

As you said, there are so, so many new coins and token launches by new projects taking place every single day which is adding extra marketcap at the alts' end whenever they get started being tracked by services like coinmarketcap and coingecko, which is why BTC's dominance is looking weaker than ever. I don't think we'll get above even 50% if BTC remains under $60k, and it's quite dangerous for the price of BTC. There's a very strong support for BTC dominance near 38 points area, if it reaches and tests that area, I believe we might see a pump in BTC's price.

[Botnake]

Does anyone here think btc dominance will get back to over say just 65%?  I don't even think so at this point anymore with all these altcoins.

As you said, there are so, so many new coins and token launches by new projects taking place every single day which is adding extra marketcap at the alts' end whenever they get started being tracked by services like coinmarketcap and coingecko, which is why BTC's dominance is looking weaker than ever. I don't think we'll get above even 50% if BTC remains under $60k, and it's quite dangerous for the price of BTC. There's a very strong support for BTC dominance near 38 points area, if it reaches and tests that area, I believe we might see a pump in BTC's price.

IMO, new coins added is not the reason why bitcoin dominance has dropped, it's the existing coins like BNB, ETH, and DOGE which has some big run this season that made the dominance drop. Even before the bull run, there are already a lot of new altcoins added but BTC was able to retain its dominance, in fact, it rises over 60% but now it's only 45% as per https://coinmarketcap.com/.

It's not a new thing, it usually happens during the altcoins season, last time it dropped below 40%, I guess we reach 36% IIRC.

[stomachgrowls]

Does anyone here think btc dominance will get back to over say just 65%?  I don't even think so at this point anymore with all these altcoins.

As you said, there are so, so many new coins and token launches by new projects taking place every single day which is adding extra marketcap at the alts' end whenever they get started being tracked by services like coinmarketcap and coingecko, which is why BTC's dominance is looking weaker than ever. I don't think we'll get above even 50% if BTC remains under $60k, and it's quite dangerous for the price of BTC. There's a very strong support for BTC dominance near 38 points area, if it reaches and tests that area, I believe we might see a pump in BTC's price.

IMO, new coins added is not the reason why bitcoin dominance has dropped, it's the existing coins like BNB, ETH, and DOGE which has some big run this season that made the dominance drop. Even before the bull run, there are already a lot of new altcoins added but BTC was able to retain its dominance, in fact, it rises over 60% but now it's only 45% as per https://coinmarketcap.com/.

It's not a new thing, it usually happens during the altcoins season, last time it dropped below 40%, I guess we reach 36% IIRC.

You got it right!

Trying to look at to the volume then you can see that most of those top altcoins did really get the big part on why dominance had been dropping but is this something a solid indication that Bitcoin could flip out?

No its not and im wondering on why majority been keen on eyeing about dominance as if its a solid indication but basing off with simple observation then you can tell about the switch up
which you can really take advantage if you do know on how to play with the current trend.

This had been a typical scenario on where there are really times where Bitcoin and alts have these common behavior because there's always an altcoin run on particular stage of time.

[KTChampions]

As you said, there are so, so many new coins and token launches by new projects taking place every single day which is adding extra marketcap at the alts' end whenever they get started being tracked by services like coinmarketcap and coingecko, which is why BTC's dominance is looking weaker than ever. I don't think we'll get above even 50% if BTC remains under $60k, and it's quite dangerous for the price of BTC. There's a very strong support for BTC dominance near 38 points area, if it reaches and tests that area, I believe we might see a pump in BTC's price.

I do not think that small coins have a serious impact on the share of bitcoin in the market, too different scale and even a lot of small coins cannot change something here. The main influence is made by coins from the top 10 or top 100. And we must look at the ETH separately - it is confidently moving towards its historical maximums relative to bitcoin and I am already beginning to believe that it will surpass them. I think such an event will revolutionize the minds of investors and this may have a further impact on the share of bitcoin in the market.

[JayJuanGee]

As you said, there are so, so many new coins and token launches by new projects taking place every single day which is adding extra marketcap at the alts' end whenever they get started being tracked by services like coinmarketcap and coingecko, which is why BTC's dominance is looking weaker than ever. I don't think we'll get above even 50% if BTC remains under $60k, and it's quite dangerous for the price of BTC. There's a very strong support for BTC dominance near 38 points area, if it reaches and tests that area, I believe we might see a pump in BTC's price.

I do not think that small coins have a serious impact on the share of bitcoin in the market, too different scale and even a lot of small coins cannot change something here. The main influence is made by coins from the top 10 or top 100. And we must look at the ETH separately - it is confidently moving towards its historical maximums relative to bitcoin and I am already beginning to believe that it will surpass them. I think such an event will revolutionize the minds of investors and this may have a further impact on the share of bitcoin in the market.

hahahahaha

You do sound distracted.

Actually, I largely agree with you that ethereum and maybe other shitcoins could end up surpassing bitcoin, and even if you want to focus on ethereum specifically (as if there were actually some there there), sure I can concede that it could pump beyond bitcoin or even become double bitcoin's share, but I am not going to concede that to have much if any significance in terms of making it foundations stronger, at least in terms of where ethereum happens to be at currently and the fact that it is a piece of shit that is used as a vehicle to support various other pieces of shit.  Sure, I cannot have much certainty where any of this might end up going, but it goes to show you that market cap should be taken with a considerable grain of salt if you are concerned about actual value investing and DOWNside risks that could happen anytime with a project such as ethereum that is built on shit with little likelihood of improvement beyond making more dog and pony shows and also having other shit that is built upon it that could also bring it down in a variety of ways, but hey keep investing in that crap and/or based on momentum that you believe will continue and could stop on you (or is the term get rug pulled?) at any time with no there there.

Another analysis point does involve how strong bitcoin happens to be, and so many of these shitcoins, including ethereum or whatever other shitcoin that you want to attempt to analyze, would have little to no value were bitcoin NOT as strong as it is.  Yeah, I have heard a lot of deluded speculation that a variety of shitcoins, including ethereum would be just fine without bitcoin - which you really should be doing a double take for anyone who actually has drunk the koolaide so much as to believe that shit (including yourself, KTChampions, if you happen to believe that nonsense - and based on the seeming delusional conclusion of your post in terms of what significance you put on a potential ethereum flippening, if it were to happen, I suspect you might believe that ).

[KTChampions]

I do not think that small coins have a serious impact on the share of bitcoin in the market, too different scale and even a lot of small coins cannot change something here. The main influence is made by coins from the top 10 or top 100. And we must look at the ETH separately - it is confidently moving towards its historical maximums relative to bitcoin and I am already beginning to believe that it will surpass them. I think such an event will revolutionize the minds of investors and this may have a further impact on the share of bitcoin in the market.

hahahahaha

You do sound distracted.

Actually, I largely agree with you that ethereum and maybe other shitcoins could end up surpassing bitcoin, and even if you want to focus on ethereum specifically (as if there were actually some there there), sure I can concede that it could pump beyond bitcoin or even become double bitcoin's share, but I am not going to concede that to have much if any significance in terms of making it foundations stronger, at least in terms of where ethereum happens to be at currently and the fact that it is a piece of shit that is used as a vehicle to support various other pieces of shit.  Sure, I cannot have much certainty where any of this might end up going, but it goes to show you that market cap should be taken with a considerable grain of salt if you are concerned about actual value investing and DOWNside risks that could happen anytime with a project such as ethereum that is built on shit with little likelihood of improvement beyond making more dog and pony shows and also having other shit that is built upon it that could also bring it down in a variety of ways, but hey keep investing in that crap and/or based on momentum that you believe will continue and could stop on you (or is the term get rug pulled?) at any time with no there there.

Another analysis point does involve how strong bitcoin happens to be, and so many of these shitcoins, including ethereum or whatever other shitcoin that you want to attempt to analyze, would have little to no value were bitcoin NOT as strong as it is.  Yeah, I have heard a lot of deluded speculation that a variety of shitcoins, including ethereum would be just fine without bitcoin - which you really should be doing a double take for anyone who actually has drunk the koolaide so much as to believe that shit (including yourself, KTChampions, if you happen to believe that nonsense - and based on the seeming delusional conclusion of your post in terms of what significance you put on a potential ethereum flippening, if it were to happen, I suspect you might believe that ).

I don’t know why there are so many words "shit" in your post 
I wrote my thoughts on the topic and I did not discuss the base, as it seems to me my assumptions are quite logical (investors and the public do not care about the ideology). Maybe everyone will be sad if shit comes first, but it's quite realistic and even logical - look at the tops on YouTube, music charts, etc. the audience loves shit 

[bryant.coleman]

Here are the latest stats from 9th May 2021.

Total market cap: $2,427,591,552,369 (+10.10%)

Bitcoin: $1,078,790,197,908 (44.439%)
Bitcoin forks: $35,180,575,798 (1.449%)
Stablecoins: $87,140,720,676 (3.590%)
Altcoins: $1,216,563,567,704 (50.114%)
WBTC: $9,916,490,283 (0.408%)

This is the change compared to my last post:

Bitcoin: -3.551%
Bitcoin forks: +0.247%
Stablecoins: -0.083%
Altcoins: +3.398%
WBTC: -0.010%

Here are the latest stats from 2nd May 2021.

Total market cap: $2,204,986,949,848 (+17.53%)

Bitcoin: $1,058,174,616,878 (47.990%)
Bitcoin forks: $26,517,738,001 (1.203%)
Stablecoins: $80,988,963,447 (3.673%)
Altcoins: $1,030,083,463,652 (46.716%)
WBTC: $9,222,167,870 (0.418%)

This is the change compared to my last post:

Bitcoin: -2.056%
Bitcoin forks: +0.061%
Stablecoins: -0.356%
Altcoins: +2.355%
WBTC: -0.003%

[bryant.coleman]

Here are the latest stats from 16th May 2021.

Total market cap: $2,272,647,036,479 (-6.38%)

Bitcoin: $911,168,938,459 (40.093%)
Bitcoin forks: $31,662,172,922 (1.393%)
Stablecoins: $90,604,057,460 (3.987%)
Altcoins: $1,230,628,143,050 (54.150%)
WBTC: $8,583,724,588 (0.378%)

This is the change compared to my last post:

Bitcoin: -4.346%
Bitcoin forks: -0.056%
Stablecoins: +0.397%
Altcoins: +4.036%
WBTC: -0.031%

Here are the latest stats from 9th May 2021.

Total market cap: $2,427,591,552,369 (+10.10%)

Bitcoin: $1,078,790,197,908 (44.439%)
Bitcoin forks: $35,180,575,798 (1.449%)
Stablecoins: $87,140,720,676 (3.590%)
Altcoins: $1,216,563,567,704 (50.114%)
WBTC: $9,916,490,283 (0.408%)

This is the change compared to my last post:

Bitcoin: -3.551%
Bitcoin forks: +0.247%
Stablecoins: -0.083%
Altcoins: +3.398%
WBTC: -0.010%

[JayJuanGee]

[edited out]

I don’t know why there are so many words "shit" in your post 

To me, it seems a better descriptor to use the word "shit" rather than altcoin.. otherwise some potentially innocent peeps might be mislead into believing that there might be some value in those various non-bitcoin projects.

By the way @bryant.coleman, quite frequently I am getting into battles with various other members who become quite adamant in their beliefs that CMC has some kind of considerable meaning - and I really downplay the importance of it (I am not the only person with this idea), so I probably should not be the one bringing this up.  I am wondering if Ethereum (kind of the shitcoins) were to be separated out of the altcoin category of your list.  I know that it becomes more complicated, so maybe I would regret even answering. Of course, these last couple of weeks Doge has gotten a lot of appreciation, so maybe it can be a bit complicated to separate out any particular coin, such as ETH.  There was also a lot of appreciation of BNB in recent times, and is BNB in the Alt category rather than the stable coin category, right?

[bryant.coleman]

By the way @bryant.coleman, quite frequently I am getting into battles with various other members who become quite adamant in their beliefs that CMC has some kind of considerable meaning - and I really downplay the importance of it (I am not the only person with this idea), so I probably should not be the one bringing this up.  I am wondering if Ethereum (kind of the shitcoins) were to be separated out of the altcoin category of your list.  I know that it becomes more complicated, so maybe I would regret even answering. Of course, these last couple of weeks Doge has gotten a lot of appreciation, so maybe it can be a bit complicated to separate out any particular coin, such as ETH.  There was also a lot of appreciation of BNB in recent times, and is BNB in the Alt category rather than the stable coin category, right?

I have only included coins such as USDT and Pax USD in the stable coin category, as these coins are pegged to the US Dollar. BNB is included in the altcoin category (or are you talking about the BUSD? Binance USD is included within the stable coin category). I need to think about making a separate category for Ethereum, but there are a number of very similar altcoins out there (Ethereum Classic for example, and other smart contract platforms). What can be the justification for not including them in the new category?

[JayJuanGee]

By the way @bryant.coleman, quite frequently I am getting into battles with various other members who become quite adamant in their beliefs that CMC has some kind of considerable meaning - and I really downplay the importance of it (I am not the only person with this idea), so I probably should not be the one bringing this up.  I am wondering if Ethereum (kind of the shitcoins) were to be separated out of the altcoin category of your list.  I know that it becomes more complicated, so maybe I would regret even answering. Of course, these last couple of weeks Doge has gotten a lot of appreciation, so maybe it can be a bit complicated to separate out any particular coin, such as ETH.  There was also a lot of appreciation of BNB in recent times, and is BNB in the Alt category rather than the stable coin category, right?

I have only included coins such as USDT and Pax USD in the stable coin category, as these coins are pegged to the US Dollar. BNB is included in the altcoin category (or are you talking about the BUSD? Binance USD is included within the stable coin category). I need to think about making a separate category for Ethereum, but there are a number of very similar altcoins out there (Ethereum Classic for example, and other smart contract platforms). What can be the justification for not including them in the new category?

I did mean BNB in terms of asking you where it fit in your categorizations.

You might be correct that it becomes a bit too complicated in terms of creating justifications for separating out Ethereum but not separating out some other shitcoins.  I would think that there have been 4 years or more that ethereum has been referred to as the ONLY shitcoin worthy of investment because of its networking effects of having a multitude of scams built upon it, but even that might be a bit of a moving target too.. so, personally, I do not really care too much if you were to separate ethereum out or just leave your references as is...

In recent times, ethereum has gotten up to .08-ish of a bitcoin.. and as I type it is around .076, and even with that, we have largely seen ethereum grow in price (relative to bitcoin) in the past year or more but with very steep uptrend in the past month or less, so surely we have been hearing nonsense about the impending flippening which would increase, in the event that ethereum continues to increase in price relative to bitcoin (if that is even feasible?).  Of course, in the 2017 flippening hysteria, we ended up witnessing around a .115 peak of the etherum to  BTC price and it was getting close to flippening bitcoin, at least temporarily, so whether or not flippening actually ends up happening - and we know anything remains possible in these here parts, there are probably a decent number of peeps (especially ethheads) who are concerned about that metric that I largely consider to be lacking in relevance, even though I expect that it could become a talking point in the near future if either ethereum is able to sustain its current price relative to bitcoin or if it were to continue to rise in price relative to bitcoin.

So, maybe I am sorry to have raised the topic, even though that is kind of the rationale behind my having had brought it up.

[bryant.coleman]

^^^  Well.. I remember what happened in 2017. At one point, Ethereum was at 33% and Bitcoin was at 37% (it has been 4 years... very difficult to remember everything accurately now). However, if I remember correctly, at that time Bitcoin was severely weakened by the BCH hard fork. A lot of people were expecting that BCH would be having a value of around 1/5th of that of Bitcoin, but after the first day's trade ended it had a price of BTC0.04 per coin.

BTW, I am not a big fan of altcoins and I hate most of them. But still I have some reluctance before I label Ethereum as a shitcoin. I would happily call Dogecoin a shitcoin, but I would think twice before using that term to describe Ethereum. I believe that Ethereum had some innovation associated with it, unlike coins such as Doge. ETH was the first smart contract platform. So it brought something new to the cryptocurrency market, although the basics are 99% similar to Bitcoin.  

[BrewMaster]

once again there is blood on the streets as bitcoin dropped and altcoins started bleeding hard. i saw some coins that got dumped 60% today alone.

the amount of money exiting the altcoin market is ridiculous, i mean we see all these people on bitcointalk and reddit who keep praising certain altcoins and make sure claims about their future (even though the said altcoin is a clear shitcoin) but the very same people dump that altcoin hard the moment they see bitcoin price is changing!
if you believed in that shitcoin then why did you dump it this hard? and why are you buying bitcoin?!

[bryant.coleman]

once again there is blood on the streets as bitcoin dropped and altcoins started bleeding hard. i saw some coins that got dumped 60% today alone.

the amount of money exiting the altcoin market is ridiculous, i mean we see all these people on bitcointalk and reddit who keep praising certain altcoins and make sure claims about their future (even though the said altcoin is a clear shitcoin) but the very same people dump that altcoin hard the moment they see bitcoin price is changing!
if you believed in that shitcoin then why did you dump it this hard? and why are you buying bitcoin?!

Large scale dumping is going on, but surprisingly the Bitcoin market share hasn't changed. Now the Bitcoin dominance stands at 39.9%, which is the lowest level we ever had in the last 3 years or so. I strongly suspect that if someone is selling their shitcoins, then they are selling it for either fiat cash or stablecoins. Because the fund outflow is not going towards BTC. Among the top coins, only ADA, XRP and DOT have increased their market share during the last few days.

[bryant.coleman]

Just one word - bloodbath!

Here are the latest stats from 23rd May 2021.

Total market cap: $1,324,130,409,786 (-41.74%)

Bitcoin: $623,526,428,661 (47.090%)
Bitcoin forks: $13,797,728,138 (1.042%)
Stablecoins: $92,312,904,236 (6.972%)
Altcoins: $588,476,218,495 (44.442%)
WBTC: $6,017,130,256 (0.454%)

This is the change compared to my last post:

Bitcoin: +6.997%
Bitcoin forks: -0.351%
Stablecoins: +2.985%
Altcoins: -9.707%
WBTC: +0.077%

Here are the latest stats from 16th May 2021.

Total market cap: $2,272,647,036,479 (-6.38%)

Bitcoin: $911,168,938,459 (40.093%)
Bitcoin forks: $31,662,172,922 (1.393%)
Stablecoins: $90,604,057,460 (3.987%)
Altcoins: $1,230,628,143,050 (54.150%)
WBTC: $8,583,724,588 (0.378%)

This is the change compared to my last post:

Bitcoin: -4.346%
Bitcoin forks: -0.056%
Stablecoins: +0.397%
Altcoins: +4.036%
WBTC: -0.031%

[BrewMaster]

Just one word - bloodbath!

that is good news though because the altcoin market was in serious need of a purge like this. the altcoins have been pumped big time during the time bitcoin price was stable and higher than this. the traders had to cash out their profit from the altcoins they were holding after the pumps ended and bitcoin drop gave them that nudge.

[Sithara007]

Just one word - bloodbath!

that is good news though because the altcoin market was in serious need of a purge like this. the altcoins have been pumped big time during the time bitcoin price was stable and higher than this. the traders had to cash out their profit from the altcoins they were holding after the pumps ended and bitcoin drop gave them that nudge.

I don't see much reduction in the altcoin market share. During the last 6-7 months, Bitcoin dominance was continuously declining, from 70%+ to less than 40%. The last time I checked it was 45.7%, and the small increase was due to the current correction phase. This means that the overall trend remains in favor of the altcoins. Once the prices stabilize, then I expect the altcoins to further increase their market share. All that said, this is not looking good for the cryptocurrency sector. Shitcoins such as Doge and XRP have amassed market capitalizations close to $50 billion. Their fair value should be less than $1 billion.