Is it just me or is the market dominance of BTC dangerously high?

[cbcbct]

Bitcoin domination has fallen, that somehow help altcoins to move upwards recent days. It is hard to predict exactly where bitcoin will drop to and halt its falls, but I guess that bitcoin might have its serious correction this time, and might retest its support around $8000. Let's see how its correction occur next two weeks. Today, bitcoin domination fell to 64.5%.

[martychubbs]

With so many scams undergoing through Alt coin market, a low adaptation of Alt for payment, and other frauds, Bitcoin has been the one that has gain people’s trust. In near, 2020, Bitcoin’s price will surely skyrocket. Alt coins are not dead, but comparing them with a coin that is very limited in number, therefore, of a greater value seems a bit unfair according to me.

[jostorres]

I do think that every thing that happens in this crypto market is temporary and I also believe that this one is the same thing. It is never a permanent case, though I have seen a lot of experts predicting since 2018 that if Bitcoin should pump this year, then most of the altcoins are going to die off. I don’t really know about that, no one is really sure about anything that happens in this market.

Maybe altcoins are not going to die off, but it is going to be something temporary and not a permanent thing. Altcoins dying off has been a normal thing in this market, there are lots of them joining the market and there are also lots of them that are dying off completely.

[Patrix_1]

I do not like this problem too, because the dominance level is extremely high and it does not allow altcoins to grow. We already had such an issue, but it should go down within few months letting altcoins to grow normally.

[bitgolden]

Bitcoin domination has fallen, that somehow help altcoins to move upwards recent days. It is hard to predict exactly where bitcoin will drop to and halt its falls, but I guess that bitcoin might have its serious correction this time, and might retest its support around $8000. Let's see how its correction occur next two weeks. Today, bitcoin domination fell to 64.5%.

I am sure it will regain its dominance back, and like you said, we are still in correction phase, it’s looking like bitcoin would not gain dominance again for now because I think this should still be the longest correction we have ever witnessed ever since bitcoin rose to $13800 and could not break further barriers.

I am not so sure that altcoins are even responding to bitcoin fall right now, most altcoins are still the same way they have always been, in fact has bitcoin falls in price, majority of them also falls in price, I don’t even know which direction they want to go, because some alts decline when bitcoin declines, while they still continue to decline when bitcoin increase, I am just waiting to see the effect of altcoins season on them when the time comes for alts to moon.

[timmmers]

BTC dominance is 65%!
If you look at this graph: https://coinmarketcap.com/charts/#dominance-percentage BTC dominance could be even 85% before altcoin season! So do not panic and stay in altcoins if you already bought. 

[tiCeR]

Which shows that there is a a little bit less speculation into other alts and more confidence in Bitcoin as the strongest currency.

it usually happens when the pump is only experienced by bitcoin and altcoin doesn't follow it. dominance still belongs to bitcoin and if it continues, it will be bad for altcoin. Bitcoin's popularity is undefeated if he experiences the next pump. and hopefully this time the altcoin follows where bitcoin goes.

It will be bad for altcoin? But it will also be good for Bitcoin. It's important that the best currency wins and Bitcoin is the best in da house.

[jazmuzika217]

I think all of this is temporary because all we know that price of bitcoin and also altcoin is very unpredictable and fast moving. And I dont see any problem about this because it is all about your strategy. All of crypto are there is no consistent value,from the start we already knew that. According to my observation when bitcoin is in a good price,altcoin price will fall and I think that is normal scenario

[leea-1334]

Well,,, you must be glad that it is going down again right now,,, will take a while I think before it can climb up so high again. Many people think this is a good thing but me personally, I am happy if BTC is hitting a dominance equal to my proportion of coins (over 80% at any one time). I bet big on bitcoin:)

[michellee]

I think all of this is temporary because all we know that price of bitcoin and also altcoin is very unpredictable and fast moving. And I dont see any problem about this because it is all about your strategy. All of crypto are there is no consistent value,from the start we already knew that. According to my observation when bitcoin is in a good price,altcoin price will fall and I think that is normal scenario

Yes, this is temporary situations for bitcoin to stay at the lower price because after this, we will see bitcoin will start to rally and who knows, the price can break higher price more than the high price before. We already have this experience before, and I don't think that there is something we need to worry because everything will be back to the higher price again. We need to be patient and don't panic if once again, bitcoin price down again because that means we have a chance to buy bitcoin again.

[carrie_white]

when the crypto market experienced a disaster at the end of 2017, the market dominance dropped dramatically, especially altcoin, then when the market started to rise again, people bought for the first time, bitcoin, because bitcoin is the most popular and trusted coin compared to any altcoin, so it's natural bitcoin dominance will be very high compared to altcoin

[Zulkifli BI]

I've been following Bitcoin's market dominance for a while now. And before the current bullish trend, it used to decrease as the market was growing. I even noticed the correlation between the prices going up and the dominance going down and vice versa. Take a look at this interesting chart: https://coinmarketcap.com/charts/#dominance-percentage. Specifically, at what happened at the end of 2017. Bitcoin's price sky-rocketed, but so did the prices of altcoins. They were kind of fueling each other and thriving. Bitcoin going up coincided with the market of cryptocurrencies expanding, and alts taking up a bigger and bigger part of it. BTC dominance went almost as low as 30% back then.
When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?

I think that this event is only temporary ... because the altcoin will rise again at the right time ... and I'm sure in the next few months the altcoin will return to a better price as we expected ... because currently the price of bitcoin isn't stable thus making the altcoin difficult to rise ...

[Menawi12]

when the crypto market experienced a disaster at the end of 2017, the market dominance dropped dramatically, especially altcoin, then when the market started to rise again, people bought for the first time, bitcoin, because bitcoin is the most popular and trusted coin compared to any altcoin, so it's natural bitcoin dominance will be very high compared to altcoin

In my opinion, the dominance of bitcoin is very strong at this time because of the strengthening of the price of bitcoin amid a decline in the total transactions on the cryptocurrency market. What happened in 2017 was different because the market cap value of cryptocurrency grew significantly and even exceeded $ 700 billion while the market cap value was now at $ 270 billion

[mattadc]

Bitcoin dominance has always been high, but now, due to low alts prices, dominance has increased and I think it will be difficult to reduce it

[Starfranko]

Bitcoin for obvious reason is the number crypto in terms of price market capitalization. It is the go-to crypto-currency and has wider recognition among crypto enthusiast . For these and many more reason bitcoin dominance should not be difficult to account