Bitcoin dominance hits 43%, alts surging ahead

[kotajikikox]

The dominance of bitcoin is still strong and promising so that it makes us feel calm, the thing that makes almost all investors choose bitcoin is because of the large market cap and of course the profit potential, the best strategy for profit if we invest bitcoin is to always wait for the right time to buy.

feel calm if you are a long term investors but it will change once you are an eager earner and only wanted easy money things that made millions a failure one .
because instead of waiting they wanted to get theirs in a sooner time in which brings them to nothing but losing .

Hi guys.. it have been a while since I updated this thread!

Latest stats from 30th May 2023.

Total market cap: $1,162,213,128,671 (+14.99%)

Bitcoin: $541,109,637,640 (46.559%)
Bitcoin forks: $3,143,137,738 (0.270%)
Stablecoins: $125,514,604,912 (10.800%)
Altcoins: $486,589,649,239 (41.868%)
Tethered BTC: $5,856,099,142 (0.504%)

This is the change compared to my last post:

Not bad comparing to the last post of yours and yes the dominace might drop big but the support stays intact and productive , no wonder we will take that dominance again next year .

[1714589519]

1714589519

[Republikcoin.com]

The dominance of bitcoin is still strong and promising so that it makes us feel calm, the thing that makes almost all investors choose bitcoin is because of the large market cap and of course the profit potential, the best strategy for profit if we invest bitcoin is to always wait for the right time to buy.

It's not only about buying at the right time, but also having to sell at the right time too, because if you only buy at the right time without considering selling at the right time you won't get a more sizable profit. Except just being able to collect Bitcoins in the long term although that's also not a bad thing to do because storing Bitcoins and considering them as important assets is a pretty good thing too now. But if the consideration is for profit, then when selling it you also have to see the very right moment.

[JayJuanGee]

The dominance of bitcoin is still strong and promising so that it makes us feel calm, the thing that makes almost all investors choose bitcoin is because of the large market cap and of course the profit potential, the best strategy for profit if we invest bitcoin is to always wait for the right time to buy.

It seems to me that if you base your decision to invest in bitcoin either mostly or completely based on what appears to be dominance.. then you likely don't understand very well regarding what is bitcoin and what you are investing in.

Maybe you are indirectly able to measure some of the various bitcoin network effects (like the ones outlined by Trace Mayer in 2015), based on dominance, but that still would not necessarily mean that you are understanding bitcoin.

The dominance of bitcoin is still strong and promising so that it makes us feel calm, the thing that makes almost all investors choose bitcoin is because of the large market cap and of course the profit potential, the best strategy for profit if we invest bitcoin is to always wait for the right time to buy.

It's not only about buying at the right time, but also having to sell at the right time too, because if you only buy at the right time without considering selling at the right time you won't get a more sizable profit. Except just being able to collect Bitcoins in the long term although that's also not a bad thing to do because storing Bitcoins and considering them as important assets is a pretty good thing too now. But if the consideration is for profit, then when selling it you also have to see the very right moment.

You seem to be wrong about these beliefs that you have to consider your bitcoin exit point (or terms) in which you sell your bitcoin, which also shows that you likely do not sufficiently and/or adequately understand bitcoin in terms of it's creation of a whole new system that is still running parallel to fiat systems, but if you are pricing bitcoin in terms of fiat and trying to figure out when to get out of bitcoin, then even if you might end up doing well in terms of increasing your fiat, you are still likely a lost puppy in terms of your understanding bitcoin and likely how to profit from bitcoin in the long term.

Additionally, I am not even say9ing that you should not sell any bitcoin, but at the same time, there is likely no real rush to get out of it, but instead selling various amounts along the way as your BTC stash likely will ongoingly continue to increase in value compared to the dollar and other fiats.

If you want to better understand some of the ideas of the parallel system, and the reason why it is likely disadvantageously misleading to be valuing your wealth in fiat, then you might want to look into various works (and podcast interviews) by Jeff Booth.. and if you cannot find any specifically then I might be willing to send you a link to one or two.. but Booth has been on a lot of bitcoin podcasts in recent times, even though he is relatively new to bitcoin, perhaps even less than 4 years being in bitcoin.

[Joshapat]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

[JayJuanGee]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

You seem a wee bit lost Joshapat

Do you recognize and appreciate that bitcoin has ONLY about less than 1% world-wide adoption, and there are likely close to $1 quadrillion in monetizable assets/currencies currently in the world, so bitcoin's market cap holds only a fraction of that value 1/2000.. but maybe even ONLY 1/20,000 if we consider that bitcoin likely contributes towards to the advancement of value creation.

Even if you seem to be suggesting that better quality of products are facilitated through free market competition, and I cannot really disagree with those kinds of ideas.. while at the same time, I don't see any reason to wish for bitcoin to be toppled by some shitcoin that supposedly is better than bitcoin or gives bitcoin a "run for its money," but it might be a good idea to continue build upon bitcoin and to facilitate its adoption because it does seem to bring a lot of justice and fairness into the debt-laden and perverted fiat systems world in which we currently are living that seems to have a lot of perverted and misguided incentives.

[Ojima-ojo]

Even if you seem to be suggesting that better quality of products are facilitated through free market competition, and I cannot really disagree with those kinds of ideas.. while at the same time, I don't see any reason to wish for bitcoin to be toppled by some shitcoin that supposedly is better than bitcoin or gives bitcoin a "run for its money," but it might be a good idea to continue building upon bitcoin and to facilitate its adoption because it does seem to bring a lot of justice and fairness into the debt-laden and perverted fiat systems world in which we currently are living that seems to have a lot of perverted and misguided incentives.

For a while I kind of confused why forks will constantly make a comparison between Bitcoin and shitcoin and Bitcoin vs fiat without minding the technological feature of Bitcoin that make Bitcoin not to be 100% in the category of shitcoin or fiat this have been the reason why many Bitcoin holders sees it as a get in a get out market speculation there by failing to really study and build a good understanding of bitcoin that will guarantee them that financial freedom in the future.

JayJuanGee just as you rightly said, we shouldn't based our profits level on term of Fiat value of Bitcoin, or what price we bought Bitcoin vs what price the Bitcoin are sold to base our satisfaction on, doing so will only portray us as gambling with the price and putting Bitcoin side by side with the fiat system which is not intellectually right and doesn't portray us as people with vas knowledge in bitcoin and blockchain analysis.

Bitcoin is best tool for long-term holding, and its fiat price does not make much difference so far we a sure of its long-term value preference.

[JayJuanGee]

Even if you seem to be suggesting that better quality of products are facilitated through free market competition, and I cannot really disagree with those kinds of ideas.. while at the same time, I don't see any reason to wish for bitcoin to be toppled by some shitcoin that supposedly is better than bitcoin or gives bitcoin a "run for its money," but it might be a good idea to continue building upon bitcoin and to facilitate its adoption because it does seem to bring a lot of justice and fairness into the debt-laden and perverted fiat systems world in which we currently are living that seems to have a lot of perverted and misguided incentives.

For a while I kind of confused why forks will constantly make a comparison between Bitcoin and shitcoin and Bitcoin vs fiat without minding the technological feature of Bitcoin that make Bitcoin not to be 100% in the category of shitcoin or fiat this have been the reason why many Bitcoin holders sees it as a get in a get out market speculation there by failing to really study and build a good understanding of bitcoin that will guarantee them that financial freedom in the future.

JayJuanGee just as you rightly said, we shouldn't based our profits level on term of Fiat value of Bitcoin, or what price we bought Bitcoin vs what price the Bitcoin are sold to base our satisfaction on, doing so will only portray us as gambling with the price and putting Bitcoin side by side with the fiat system which is not intellectually right and doesn't portray us as people with vas knowledge in bitcoin and blockchain analysis.

Bitcoin is best tool for long-term holding, and its fiat price does not make much difference so far we a sure of its long-term value preference.

Personally, I don't really have any problem that we might attempt to figure out bitcoin's value in terms of fiat, because we have both fiat and bitcoin systems that are going on at the same time, and likely we are going to need to retain some value in each of these systems, as the value of the various fiat systems are likely going to continue to gravitate into bitcoin, even though it could happen quickly  like in 10 years or it might take a couple hundred years to really play out.

So each of us has to attempt to figure out our own bitcoin strategy and our various ways of attempting to hedge ourselves, including recognizing that bitcoin is quite likely the greater prize that we need to continue to attempt to make sure that we guard and that we would likely spend our bitcoin last, except to the extent that we might be trying to sell BTC on the way up in order to buy back lower ....but from my point of view we have to be careful to never really sell too many of our bitcoin while we still might be in the earlier stages of accumulation and until we reach a certain high level of BTC accumulation, we likely need to develop strategies in which we are mostly buying and accumulating BTC, and surely once we are able to figure out our own BTC accumulation level targets, then we likely will have more freedoms (and options) to engage in some kinds of personally tailored selling to the extent that we might believe that it is feasible to do so and perhaps to the extent to which that we might not have fiat (and other assets) that we might want to spend first... we have to figure out our own balances in accordance to our own situation while hopefully keeping our eyes on the price, which is bitcoin as amongst the best of the assets/currencies (if not the best).

[ginsan]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

I think it's hard going friends. Don't get your hopes up, where you want to see altcoins get rid of Btc's dominance I don't think that's going to happen. I see that Btc has dominated the market for quite a long time, even today where no other coin has been able to beat BITCOIN dominance. As a whole the Crypto market is the parent btc and all increases and decreases in atlcoin are influenced by falling or rising btc prices. So you can change your perception to make sure it won't happen forever.

Apart from that there is only ETH as the closest competitor to BTC. But ETH is still difficult enough to exert strong pressure to undermine btc dominance even though they are atlcoin which has the largest share at the moment.

[flyingcarpet]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

I think it's hard going friends. Don't get your hopes up, where you want to see altcoins get rid of Btc's dominance I don't think that's going to happen. I see that Btc has dominated the market for quite a long time, even today where no other coin has been able to beat BITCOIN dominance. As a whole the Crypto market is the parent btc and all increases and decreases in atlcoin are influenced by falling or rising btc prices. So you can change your perception to make sure it won't happen forever.

Apart from that there is only ETH as the closest competitor to BTC. But ETH is still difficult enough to exert strong pressure to undermine btc dominance even though they are atlcoin which has the largest share at the moment.

I think this dominance of Bitcoin will never change. Alternatively, there has not been a coin as well known as Bitcoin for such a long time. Maybe we can count ETH, but it still couldn't reach that level. It has been that way for many years and I think it will continue that way. If one day the number of users becomes more than today, maybe then such a possibility may arise. Maybe.

I think this situation will only change when the number of users increases and it becomes legal all over the world.

I did not invest thinking that altcoins would get rid of BTC's dominance. Because I don't remember if it happened before. Bitcoin completes its move and then comes altcoins. I always try to move my investment in this direction.

[karabiber]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

I think it's hard going friends. Don't get your hopes up, where you want to see altcoins get rid of Btc's dominance I don't think that's going to happen. I see that Btc has dominated the market for quite a long time, even today where no other coin has been able to beat BITCOIN dominance. As a whole the Crypto market is the parent btc and all increases and decreases in atlcoin are influenced by falling or rising btc prices. So you can change your perception to make sure it won't happen forever.

Apart from that there is only ETH as the closest competitor to BTC. But ETH is still difficult enough to exert strong pressure to undermine btc dominance even though they are atlcoin which has the largest share at the moment.

I think this dominance of Bitcoin will never change. Alternatively, there has not been a coin as well known as Bitcoin for such a long time. Maybe we can count ETH, but it still couldn't reach that level. It has been that way for many years and I think it will continue that way. If one day the number of users becomes more than today, maybe then such a possibility may arise. Maybe.

I think this situation will only change when the number of users increases and it becomes legal all over the world.

I did not invest thinking that altcoins would get rid of BTC's dominance. Because I don't remember if it happened before. Bitcoin completes its move and then comes altcoins. I always try to move my investment in this direction.

If you are not an eth maximalist, you should know that the dominance of etc can never be broken. There are altcoins that are more efficient and faster than btc but considering Bitcoin's symbolic weight and total market share this dominance is very difficult to beat. I wish btw didn't have so much market dominance and we could see two, three or more altcoins competing with btc. I dont think this will never be possible but i will never stop investing in different coins as important as btc.

I do not think that the dominance of btc will decrease with the increase in the number of users because i think that new people who enter the market will definitely enter the market by hearing the name of bitcoin and at the same time i think that large companies are constantly investing in btc. The presence of companies strengthens the dominance of btc.

[kotajikikox]

The dominance of bitcoin is still strong and promising so that it makes us feel calm, the thing that makes almost all investors choose bitcoin is because of the large market cap and of course the profit potential, the best strategy for profit if we invest bitcoin is to always wait for the right time to buy.

It's not only about buying at the right time, but also having to sell at the right time too, because if you only buy at the right time without considering selling at the right time you won't get a more sizable profit. Except just being able to collect Bitcoins in the long term although that's also not a bad thing to do because storing Bitcoins and considering them as important assets is a pretty good thing too now. But if the consideration is for profit, then when selling it you also have to see the very right moment.

Buying and selling in perfect timing will be the best act dealing in crypto mate because we have seen the purchasing power of everyone .
some bought at low while others buying while increasing yet manage to earn .
meaning one thing mate and that is no matter what happened , Bitcoin will always bring us profit if we will only trust this coin and not allowing to believe in Pump and dump coins like altcoins.
keep buying bitcoin because this is what the crypto market symbolize .

[Desscount]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

There will be no Altcoin that will beat Bitcoin in terms of marketcap, but Bitcoin can be beaten in terms of efficiency and blockchain technology,
it has been seen that the impact of Bitcoin's dominance is only 45% and 55% are in altcoins,
but if you wish domination is fully controlled by one altcoin so of course the crypto market will be very volatile than this.

[Velemir Sava]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

There will be no Altcoin that will beat Bitcoin in terms of marketcap, but Bitcoin can be beaten in terms of efficiency and blockchain technology,
it has been seen that the impact of Bitcoin's dominance is only 45% and 55% are in altcoins,
but if you wish domination is fully controlled by one altcoin so of course the crypto market will be very volatile than this.

In my view, Bitcoin's dominance in the cryptocurrency market has both positive and negative effects. On the plus side, Bitcoin provides stability and is widely recognized. However, some people believe that altcoins are limited by following Bitcoin trends and I think the most important is a balanced market condition to avoid excessive volatility and The relationship between Bitcoin and altcoins is very complex, and the market will continue to grow. While it is unlikely that any altcoin will surpass Bitcoin in terms of market value, they can compete on technology and efficiency.

[Semar Mesem]

The influence of bitcoin is still strong and dominant, it can be said that market conditions depend on bitcoin, if the price of bitcoin goes up then the price of altcoins will also go up, or vice versa, this is what makes almost everyone store assets in bitcoin rather than in altcoins, but for me for now prefer to invest in altcoins and maybe i keep bitcoin about 15%.

[dragonvslinux]

As an update for Bitcoin dominance today, it certainly looks like it is continuing to move to the upside, breaking out of the previous two-year range that is quite significant:



Also to note, with the SEC clamping down on altcoins under securities law, we can see how Bitcoin & Ethereum are both benefiting from this (compared to the rest of the market):



I realise Bitcoin has also corrected to the downside with the recent shitcoin sell-off, but it doesn't necessarily have to continue. We've already had the 1 year long bear market without Bitcoin gaining any market dominance, so a rise in Bitcoin's dominance from here could certainly lend a hand to a further recovery if 2019 is anything to go by. This is when BTC dominance climbed up to 70%.

[Ojima-ojo]

So each of us has to attempt to figure out our own bitcoin strategy and our various ways of attempting to hedge ourselves, including recognizing that bitcoin is quite likely the greater prize that we need to continue to attempt to make sure that we guard and that we would likely spend our bitcoin last,

Developing a personal Bitcoin holding strategy is a fast track to becoming financially stable and having confidence in your decision whether or not to sell or not and what time is best to sell on the way up in other to buy back at a lower price, this is what some folks failedo develop in other to help them in their bitcoin journey because bitcoin is most beneficial as a long term asset and not for short term speculations like shitcoins.

except to the extent that we might be trying to sell BTC on the way up in order to buy back lower ....

Many have failed to accurately and practically practice the effective measures in buying and selling Bitcoin and at that sometimes they make wrong Bitcoin to fiat choices, such as selling at the wrong time or also buying at the wrong time, this has led to so many misconceptions on their conviction to hold bitcoin for the long term goals.

[JayJuanGee]

So each of us has to attempt to figure out our own bitcoin strategy and our various ways of attempting to hedge ourselves, including recognizing that bitcoin is quite likely the greater prize that we need to continue to attempt to make sure that we guard and that we would likely spend our bitcoin last,

Developing a personal Bitcoin holding strategy is a fast track to becoming financially stable and having confidence in your decision whether or not to sell or not and what time is best to sell on the way up in other to buy back at a lower price, this is what some folks failedo develop in other to help them in their bitcoin journey because bitcoin is most beneficial as a long term asset and not for short term speculations like shitcoins.

except to the extent that we might be trying to sell BTC on the way up in order to buy back lower ....

Many have failed to accurately and practically practice the effective measures in buying and selling Bitcoin and at that sometimes they make wrong Bitcoin to fiat choices, such as selling at the wrong time or also buying at the wrong time, this has led to so many misconceptions on their conviction to hold bitcoin for the long term goals.

Even though I mention the selling on the way up strategy and buying on the way down strategy, there is quite a bit of "devil in the details," and ultimately I don't really believe that it is a good idea to sell in order to expect to buy back cheaper.  Therefore the amounts that might be permissible to sell on the way up would be relatively small and ONLY as a kind of insurance program (just in case the BTC price goes down, but if it does not go down, then don't expect to buy back, just use the money generated from the sales for funzies).

So, there are some presumptions in my considering even if selling at all is a good idea, and that would relate to having already had reached high accumulation levels and likely to have had overly accumulated, which makes it easier to sell some and it would presume that any coins sold would be in profits and maybe even in many time higher than the basis levels of profits.

For sure, strategies for shitcoins would be much different, and seems kind of dumb to me to sell some BTC and then to fuck around with shitcoins with the proceeds, but yeah, people can do what they want, even if it seems dumb to me.

[fadhilz123]

I think the dominance of Bitcoin that is too strong has a bad impact, the market is too dependent on Bitcoin so that many Altcoins will always follow the trends that occur, and I hope there is Altcoin that can defeat Bitcoin so that it makes the competition even better and certainly makes many developers optimistic.

Your opinion is very baseless and not logical enough for me because altcoin developers in the past also looked at Bitcoin more often so they tried to study the existing system in Bitcoin before creating altcoins as their product for now. And it is only natural that Bitcoin gains greater dominance in the market because Bitcoin is the first coin to enter the market before thousands of altcoins were created. And I don't think that Bitcoin dominance can be bad for the market and altcoins because altcoins can also increase when Bitcoin starts to move up in the market, so there is no specific way for any altcoin to beat Bitcoin until now.

There will be no Altcoin that will beat Bitcoin in terms of marketcap, but Bitcoin can be beaten in terms of efficiency and blockchain technology,
it has been seen that the impact of Bitcoin's dominance is only 45% and 55% are in altcoins,
but if you wish domination is fully controlled by one altcoin so of course the crypto market will be very volatile than this.

I even imagine that if there is one altcoin that can dominate the market and beat Bitcoin in any way, including in terms of market capitalization, maybe the market will not be good enough and more vulnerable to collapse because the demand for Bitcoin is still far greater than altcoins so that when Bitcoin's influence starts to low and lost in the market, altcoins will also not be able to develop properly in the market because the number of enthusiasts is still less when compared to Bitcoin. So why are we thinking about beating Bitcoin if the proof through its dominance percentage is very clear in the market.

[YUriy1991]

I realise Bitcoin has also corrected to the downside with the recent shitcoin sell-off, but it doesn't necessarily have to continue. We've already had the 1 year long bear market without Bitcoin gaining any market dominance, so a rise in Bitcoin's dominance from here could certainly lend a hand to a further recovery if 2019 is anything to go by. This is when BTC dominance climbed up to 70%.

Unfortunately, after managing to stay above the trend line for 8 days, the price fell back into the Falling Wedge pattern. Nobody expected this to happen, but yes, FUD is always the cause.

Well, now we have two strong support levels, where the price might bounce. First, there is the $31,000 level. We hope the price can stay there and start rising again. However, don't forget that there is also a lower support level, which is $19,549.

If the price fails to hold on to the $31,000 mark, we could see the price drop even further. we are now at a tipping point. Will this be a recovery moment, or will the price continue to fall? Well, we can't guess for sure. But what is clear, we need to be vigilant and watch developments carefully.

[Franctoshi]

@JayJuanGee considering your idea of selling some your BTC on the way up and buying on the way down kind of strategy and in order to avoid selling your BTC and the price continues to rise, another method which I think should be fine or ideal to follow to avoid selling without getting cut on the process is deciding or stating out how much of your BTC that you want to HODL in your portfolio regardless of where the price may goe upwards or downwards, I'm not touching this amount of BTC and to state how much that you want to sell when a profit is realized.