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Author Topic: BTC Dominance on CoinMarketCap  (Read 1786 times)
Shasha80
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October 30, 2019, 12:02:55 AM
 #201

As we know that bitcoin has always been everyone's favorite investment, so it's no wonder that prices are far compared
to other coins. This is what makes bitcoin always dominant in the market, because holding bitcoin is the most profitable.
I personally make investments the share of capital that I have 50% I save in bitcoin and 50% I buy in altcoins that have
a large and fundamental volume good. So if we open the coinmarketcap website from the past until now bitcoin will always
be dominant.

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October 30, 2019, 02:31:47 AM
 #202

I am worried for altcoin currencies. More than 2000 altcoin coins have no foothold in the market, this figure is even higher when the statistics on Coingecko! Altcoins lose value, which makes investors worried and scared when investing in it.

The more altcoins are being created,  the more the chance for them to become on the top list in the coinmarketcap. Bitcoin do really accumulate most of the volume of crypto, and there's less for altcoin and if we will divide the volume alloted for altcoins, they need to become the best to have the most. In these case, since bitcoin is the only different crypto that is performing outside of the box, investors are bound to choose it, and altcoins being set aside.

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October 30, 2019, 04:08:58 AM
 #203

I am worried for altcoin currencies. More than 2000 altcoin coins have no foothold in the market, this figure is even higher when the statistics on Coingecko! Altcoins lose value, which makes investors worried and scared when investing in it.

The more altcoins are being created,  the more the chance for them to become on the top list in the coinmarketcap. Bitcoin do really accumulate most of the volume of crypto, and there's less for altcoin and if we will divide the volume alloted for altcoins, they need to become the best to have the most. In these case, since bitcoin is the only different crypto that is performing outside of the box, investors are bound to choose it, and altcoins being set aside.
I think what's important is quality over quantity, there's a lot of altcoins but only few of them are really legit that has a high potential to succeed in the future. Bitcoin's dominance will continue to increase because are seeing altcoins combine are weak compared to BTC.

However, it will not be the case all the time as we saw how btc drop its dominance rate in the past also, when ETH and other major altcoins will rise then maybe we will start seeing btc dominance will drop but it would be better if the total marketcap in overall will result to significant growth as well.
Reaching a trillion overall marketcap is possible, and maybe that time, we will see a progressive growth of altcoins.


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October 30, 2019, 05:46:50 AM
 #204

Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?

Currently the BTC Dominance according to CMC is:  62.6%
Bitcoin does not only rely on domination, community and FOMO or current trends allow if bitcoin dominance goes down, bitcoin will remain at the top of crypto. Every condition has a gap, moreover we are talking about crypto volatility. As long as the positive signal is stronger than the negative signal, market dominance remains in bitcoin.
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October 30, 2019, 06:01:40 AM
 #205

I think that if the cryptocurrency market develops, and we see the launch of coins such as Gram, Libra and the like, then Bitcoin's dominance will undoubtedly decline over time. However, I believe that the dominance of Bitcoin will increase the influx of new money into the industry. I am convinced that new investors mostly invest in bitcoin, because It is the first cryptocurrency that everyone will know about. Bitcoin has also recently shown that despite its high value, It can grow in value faster than other leading highly capitalized digital assets.



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October 30, 2019, 06:52:35 AM
 #206

The Bitcoin dominance is down to 67.5%, which is around one percent lower than what we had 24 hours back. And surprisingly it is not established altcoins such as Ethereum or Litecoin that is giving the biggest challenge to Bitcoin in its quest to dominate the cryptocurrency market. The coin which had the highest 24 hour price change (among the top 10) was Bitcoin Cash, which went up by 7%.

Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
Bitcoin always dominance in coinmarketcap because almost investor just looking with bitcoin as investment than altcoin, they have big interested with investing on bitcoin than altcoin. Bitcoin can give higher chance profit than altcoin although every day with several percent for earning profit with bitcoin investing, with altcoin maybe waiting for long time to get profit and big risk when altcoin price down.

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October 30, 2019, 07:15:04 AM
 #207

Bitcoin dominance is increasing and hopefully it will rise above %65 if BTC start growing as we saw last month.
But if dominance decrease then other altcoin prices could go higher because when BTC goes down then investors move to altcoins.
Anyway I don't think so BTC will go down because day by day btc getting famous.

How do you say that they move to other coin? As I observe, when the bitcoin increase, the altcoin decreases too. Because the investor not go through the other coin because some of their move their money to stable coin.
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October 30, 2019, 09:16:45 AM
 #208

The BTC dominance has grown from around 50.3% a couple of weeks ago to 62.4% today because other crypto have not climbed as steeply as Bitcoin and because the trash/pathetic tokens and coins have been exposed which means more and more people leaving those behind or cutting their losses but not necessarily purchasing other crypto.

Bitcoin dominance is great but to what percentage? At what point does it start damaging other crypto and stops them being real competitors?

This is not a market that was created for equal competition at all bro.

Bitcoin was released as a mean to revolutionize the worldwide monetary system in a meaningful way. Not, the fact that some decided to be copycats is not Bitcoin's fault. Nothing else is really needed.

Everyone can release whatever they want and the ones who enjoy it can keep it alive with their investments but pretending to be equal or closely equal to the innovator, forget about that since the beginning because it won't happen.

So are you saying Bitcoin will reign with well over 50% of the market for the foreseeable future? I would not bet against that myself because its dominance is the driving factor behind people investing in most other crypto too.

We know there are crypto out there that are more usable technically than Bitcoin such as XRP and ETH but Bitcoin has the brand and community behind it. Surely if it was just about functionality Bitcoin would struggle to be anywhere near the top.

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October 30, 2019, 11:14:28 AM
 #209

I think that if the cryptocurrency market develops, and we see the launch of coins such as Gram, Libra and the like, then Bitcoin's dominance will undoubtedly decline over time. However, I believe that the dominance of Bitcoin will increase the influx of new money into the industry.
There is a difference between these centralized coins and a decentralize coin like bitcoin, if you look at libra and their plans to unveil the currency they are planning for a stable currency and we will see whether the authorities will allow them to release that to start thinking about it will dominate the world  Tongue and Gram is also going through these regulatory issues.

I am convinced that new investors mostly invest in bitcoin, because It is the first cryptocurrency that everyone will know about. Bitcoin has also recently shown that despite its high value, It can grow in value faster than other leading highly capitalized digital assets.
There is a difference people trusting bitcoin just because they are the first coin majority of the coins in the market are just replica of the bitcoin source code with minor changes.

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October 30, 2019, 02:17:26 PM
 #210

the dominance of bitcoin is very strong in various exchanges, especially in CMC. now the influence of bitcoin is very large, no wonder if bitcoin becomes the biggest and controls almost 62% cryptocurrency


It is now sitting at over 67% dominance.

How it effects the competitors in the market is up for debate but do you think its dominance is negatively affecting other crypto prices and growth?

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October 30, 2019, 06:10:04 PM
 #211

The Bitcoin dominance is down to 67.5%, which is around one percent lower than what we had 24 hours back. And surprisingly it is not established altcoins such as Ethereum or Litecoin that is giving the biggest challenge to Bitcoin in its quest to dominate the cryptocurrency market. The coin which had the highest 24 hour price change (among the top 10) was Bitcoin Cash, which went up by 7%.

Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
We can see that as of now, I am not sure if bitcoin was the first cryptocurrency but it is simplified that bitcoin dominated every other altcoin in terms of price and volume, maybe because it is the most used cryptocurrency, it is using in every different way, in terms of paying bitcoin is being used, also in online gambling it is being used as money or bet, in investing it is being used for you to be able to support particular project they do not need your fiat but they are only accepting bitcoin as an investment. I can simply say that bitcoin is for universal use as it is being recognized all around the world, I have read also some news that in other countries they have ATM machines that is bitcoin based meaning if you want to buy some bitcoin you can do it physically you dont need some internet. This is actually good. Bitcoin is becoming famous as time goes by.
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October 30, 2019, 11:24:35 PM
 #212

No one can ever replace and defeat a bitcoin easily unless there's sabotage on that cryptocurrency and something new showed up to fix those. Bitcoin is the first decentralized digital money and has a huge community so it's very impossible for them to reach it. Even the bitcoin's price value goes low, there is still a huge gap that will show bitcoin is the greatest of them all.

I agree with you that so far it seems nothing can replace Bitcoin but you did not answer the question in the OP regarding dominance.

In your opinion what sort of dominance percentage should Bitcoin have which keeps it clearly at the top reigning supreme but would allow for others such as ETH, XRP, LTC and others to have their own growth and increase their own percentages?

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October 31, 2019, 05:51:53 AM
 #213

The Bitcoin dominance is down to 67.5%, which is around one percent lower than what we had 24 hours back. And surprisingly it is not established altcoins such as Ethereum or Litecoin that is giving the biggest challenge to Bitcoin in its quest to dominate the cryptocurrency market. The coin which had the highest 24 hour price change (among the top 10) was Bitcoin Cash, which went up by 7%.

Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
Bitcoin always dominance in coinmarketcap because almost investor just looking with bitcoin as investment than altcoin, they have big interested with investing on bitcoin than altcoin. Bitcoin can give higher chance profit than altcoin although every day with several percent for earning profit with bitcoin investing, with altcoin maybe waiting for long time to get profit and big risk when altcoin price down.

I agree with your opinion that bitcoin always dominates the market. I think it's all because Bitcoin is still a favorite coin that can benefit investors. maybe investors assume that bitcoin has a more beautiful future than altcoin. and maybe also investors assume that altcoin is a lot of rubbish, so they will prioritize choosing bitcoin over altcoin, because surely they assume that holding altcoin carries a greater risk than bitcoin.

 
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October 31, 2019, 10:03:44 AM
 #214

How can you be so sure? That is a bold statement to make.

Maybe a competitor will dethrone it in a few years or so. I keep an open mind about this.

Bitcoin's path is clear, which is to function as store of value. It's gaining adaption on a daily basis as being that. Optionally, LN might also add utility in form of instantly and near free transactions.

I add more importance to a store of value than anything else-- cheap and fast day to day transactions are likely going to be taken over by centralized stable coins because they work as money and do that today already.

We have had tons of altcoins with each a different utility and roadmap, but none of them signal that there is actual demand for them. Crypto as a whole is just overhyped, so is the blockchain as technology.



I could not agree with you more, crypto is over-hyped and to a point so is blockchain technology but they can be utilised and maximised for individuals and projects for their own agenda and goals.

As far as you keeping an open mind about a competitor maybe dethroning Bitcoin in the near future, do you see any existing crypto that might make that leap or do you think a new one will be created which might take over?

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October 31, 2019, 12:02:56 PM
 #215

The Bitcoin dominance has fluctuated in recent weeks in a rage of 62-70%. It depends in my opinion on the performance of the BTC in which direction the market is developing. The evolution of Altcoin courses is still too dependent on the BTC price
Bitcoin never have competitor for take dominance in coinmarketcap, how ever thousand altcoin listed in exchange and coinmarketcap bitcoin still dominance on coinmarket cap because bitcoin is the main of altcoin, almost altcoin depend with bitcoin and dominance bitcoin never can stop by any altcoin, bitcoin still dominance today with percentage more than 67% and will be higher again every time.

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November 04, 2019, 10:15:06 AM
 #216

That domain has risen to 67.5% at present, we do not know if that percentage will increase or decrease,

The dominance will increase more as the price continues to increase. It will always dominate when the percentage decreases or increases because it's the first crypto currency and always the first coin most newbie always learn of.

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November 04, 2019, 12:32:06 PM
 #217

I think there won't be another crypto currency in the future (2020-2030) weighing EVEN 40% (or less) of total market cap, it is also very unlikely. in my opinion the currencies that are going to dominate, are the ones that have acquired the highest adoption rates, most developers, most followers, users, members, contributors and etc. And we know Bitcoin is king of them and it would be treated as gold compared to other cryptocurrencies.

Bitcoin has the largest market cap and even though I don’t see it growing as quickly percentage-wise as some of the others, it’s grown so much that I expect it to remain dominant. maybe short-term it is bad for altcoins but long term it is good. The more dominant bitcoin is, the higher it's purchase power is. It also suggests that we are in an uptrend, then eventually investors will want to buy altcoins because their bitcoin will have huge purchase power.

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November 04, 2019, 12:52:37 PM
 #218

Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?

Currently the BTC Dominance according to CMC is:  62.6%
Bitcoin is still the most potential coin in the market inspite of lot of developed altcoins.It attracts more investors which boost the prices and volume of bitcoin and make it top the charts on coinmarketcap.The dominance will increase with passage of time and adoption at global level making market cap more higher.
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November 04, 2019, 12:58:56 PM
 #219

I'm expecting Bitcoin dominance to reach 80% perhaps 90% and stay there for all 2020. After that we will have a clear picture of surviving and abandoned altcoins.
I'm just hoping coinmarketcap removes at least 2 thousand of them.
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November 04, 2019, 01:07:38 PM
 #220

The dominance of bitcoin now is a bit too high so the alt coin got a difficulty to grow, the good percentage dominance is about 30-40% so there are plenty room for alt to grow, but this dominance is not too bad, the higher dominance mean btc will got a better value


It will change. It is always changing. It so happened that the more aggressive as of the moment, and of the past days actually, is Bitcoin. The dominance reflects which is more bullish. By the time the altcoins will start flying, expect the dominance to lower down. As you said, Bitcoin might be dominating on 40% more or less during the alt season.


Do you see its dominance falling to 40% at any time soon?

What I noticed during the past month where Bitcoin went from above $7000 to around $10,000 was that other crypto was not rising and falling the same way Bitcoin does percentage-wise.

It is Bitcoin that carries the whole market and at time of writing it has over 67% dominance with no sign of it going lower.


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