BTC Dominance on CoinMarketCap

[Naida_BR]

It is normal to see Bitcoin being the dominant cryptocurrency in Coinmarketcap.
All the transactions and trading activities are paired with BTC. However, I don't think it is normal to see such a dominance in the industry. There are many other cryptos that deserve a bigger portion of the total percentage in the market.

[pdutta]

Bitcoin dominance in the coinmarketcap because bitcoin is the king of cryptocurrency and bitcoin is the first cryptocurrency in the world and it has already created its own value. Everyone trusts bitcon because it is the safest and most reliable coin.

[JollyGood]

Hey

The number of cryptocurrencies is over 1600 and growing according to a survey now if we consider this number we would be able to see how it is a big influencer of the market. It is actually controlling the market to an extent ( trading pairs and all ) .
It has 191 billion market cap which is followed by etherum with 105 billion.

It is infact very close not a lot of distance is between them ...i think soon it may surpass it but then again it's Bitcoins that we are talking about .

Well with 49.9% dominance vs 50.1% dominance there is every chance the thousands of crypto out there will be dominant percentage wise but when will it happen?

Things are not clear except that BTC is dominating well in to 60%+

[Little Mouse]

I'm not sure what you exactly looking for. I think Bitcoin domination should be lower than 40%, however, that would be still a lot provided that there are thousand coins out there.

[crypto1987]

So far, there has not been a project that really has a big impact on the market and can compete with BTC, it is obvious that people are more inclined towards a project that is growing rapidly and this is the case of Bitcoin, perhaps in the future things are different.

[Naida_BR]

So far, there has not been a project that really has a big impact on the market and can compete with BTC, it is obvious that people are more inclined towards a project that is growing rapidly and this is the case of Bitcoin, perhaps in the future things are different.

There are many other coins that have greater technology than Bitcoin right now.
It is just that people do not realize that and they want to keep their funds in Bitcoin. Because if the market falls Bitcoin will be the last to stand due to the Fiat pairings that it has in many exchanges.

[JollyGood]

The dominance of bitcoin over the crypto market has risen again as it is currently over 60% and this has caused a gradual increase in the entier market cap which has risen over $300 B. i think this is a good sign showing an imminent bull run.

Yes a bull run might or might not be happening any time soon but at which percentage dominance would you say is the ideal figure which would allow other crypto to play catch up?

[JollyGood]

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%

As far as I can remember, during the peak price of almost $20k, bitcoin's dominance is around 50%. Bitcoin having a good run and so is the alt coin. So I would say that around that ballpark figure. So that the other 50% is for the alt coins to grow and mature.

That is an intriguing idea. If Bitcoin held 50% dominance and the others held the other 50% then that would be better than the current 65-70% dimnance that Bitcoin is exerting but still would not allow altcoins to play catch-up or have growth unless Bitcoin was near all time highs which should also mean other coins are going sky high too.

What are your views if BTC dominance was lower than 50%?

[JollyGood]

The dominance of bitcoin over the crypto market has risen again as it is currently over 60% and this has caused a gradual increase in the entier market cap which has risen over $300 B. i think this is a good sign showing an imminent bull run.

Yes, its a sign of bull run and i don’t see any threat for altcoins on that because in the first place Bitcoin really dominates the market. We will see a more dominance of bitcoin if we make another ATH, this is a challenge for altcoins to follow that or else they will be dead and can’t follow the price uptrend.

What about dominance percentages? Sure if BTC rises so should altcoins but at what percentage would be considered an appropriate playing field?

[pixie85]

It should and it will remain over 50%. I don't see it going any other way. The crypto market doesn't exist without bitcoin and if bitcoin loses its value the other coins will take an even greater hit.

For dominance to fall people would have to abandon bitcoin and switch to altcoins. Chances of that happening are maybe 1%

[Astvile]

Bitcoin will remain dominant for the rest of its life not untill something beat it up in the market,like a huge new altcoin that replaced bitcoin fame and encourage bitcoin users that that coin if far way better than bitcoin.But not until then bitcoin still remains at top and dominant

[1Referee]

It should and it will remain over 50%. I don't see it going any other way. The crypto market doesn't exist without bitcoin and if bitcoin loses its value the other coins will take an even greater hit.

For dominance to fall people would have to abandon bitcoin and switch to altcoins. Chances of that happening are maybe 1%

I can see Bitcoin's market cap dominance easily drop below the 50% mark in the future.

It's only a matter of adding enough shitcoins to your index. Right now on CMC it's Bitcoin versus 2200 coins, but that at one point will be Bitcoin versus +10,000 coins. It's an unfair comparison in each and every way, but people like it so it exists. This doesn't mean people will switch to altcoins, just that index sites such as CMC are going with the flow of the market to remain relevant.

CMC might list Libra too eventually. If they have like $5 billion of it in reserve, that's directly the market cap and it will lower Bitcoin's market cap dominance instantly.

[JollyGood]

Bitcoin dominance will reverse shortly, then altcoins will run hard.  That's why 100% of my portfolio is on the altcoin called HST decision token

When you say BTC dominance will reverse shortly could you please expand on what you mean?

[iam_aayushiJ]

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%

Today i.e 19th June, the BTC Dominance is 60% , both the eth to btc dominance is decreasing since past few days, but it also shows the hope that there is a lot of scope to grow, and cover the gap of dominance in cryptos. I am only bullish in two cryptos, one is ETH and another is BTC.

[Sinjokubhi]

btc can be interpreted as a major cryptocurrency pair, as it should be possible that bitcoin will always be the top in trading volume. If you get a low volume of bitcoin, it will have an impact on the prices of other altcoins

[bittraffic]

During the last bullrun the BTC dominance I think was 40%+. It follows the rank that means the 2nd token has the 2nd more dominance. Its really something to think about because all the rest are are divided into all the coins in the market, one that is really insane is that 7% is the XRP, NOT ETH and yet most of the people in the forum hate it. You can check them all here in the charts https://coinmarketcap.com/charts/#dominance-percentage

[Pyr3x]

Yes, bitcoin is dominant and that's fine. I'm sure it will continue. Likely further domination will only intensify. Bitcoin does not lose its position, on the contrary, it only increases

[Vishnu.Reang]

The dominance is still staying above 65%, despite some late fight back from the alts. The trends indicate that the market share of Bitcoin will continue to increase, reaching 70% or more by the end of this year. And it will increase further next year, as a result of the upcoming block reward halving. Right now I don't see a good future for any of the alts.

[Herbert2020]

Yes, bitcoin is dominant and that's fine. I'm sure it will continue. Likely further domination will only intensify. Bitcoin does not lose its position, on the contrary, it only increases

Bitcoin will always be dominant among the rest of coins because bitcoin is the king of cryptocurrency and there are a lot of people are making good profit with bitcoin compare on other cryptos that's why it will continue to be the best crypto.

we can see the market capitalization of bitcoin and ethereum which ranks second in the coinmarketcap, where bitcoin gets $ 187 billion, while ethereum is $ 24 billion. with very far adrift, it's no wonder that bitcoin dominates cryptocurrency. this is inseparable from people's trust in bitcoin

you should also compare their circulating supply and the premine of each coin to come up with a more realistic market capitalization.
bitcoin has about 17 million coins in circulation with 0 premine
ethereum has more than 106 million coins in circulation with more than 75 million of it premined.

so in reality bitcoin market cap is $190 billion while ethereum is $5 billion.

[bryant.coleman]

The market cap of various altcoins as given in the coinmarketcap website is not entirely accurate. For example, take the case of Bitcoin Gold (BTG):

https://coinmarketcap.com/currencies/bitcoin-gold/

As per CMC, the market cap is $456,672,736 and the circulating supply is 17,513,924 BTG. But the real circulating supply is only around 2-3 million coins, as the vast majority of the BTC holders have not extracted the BTG forked coins from their wallets. This is clear if you check the BTG blockchain. The vast majority of the pre-fork BTG coins have never been moved.