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Author Topic: BTC Dominance on CoinMarketCap  (Read 1786 times)
JollyGood
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July 06, 2019, 09:29:23 AM
 #1

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%

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July 06, 2019, 09:36:21 AM
 #2

Even if Bitcoin's market dominance drops to 25% bitcoin will still be the dominant force. Remember, the cryptocurrecy markets is easily swayed by news(both fake and legitimate), especially to most altcoins. Bitcoin will still be the most decentralized, most secure, and most globally adopted coin compared to all the other coins/tokens combined.

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July 06, 2019, 09:57:25 AM
 #3

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%
The dominance of bitcoin is getting higher because of many failed altcoins, and they are dying so people choose to transfer on bitcoin. A big portion are still filled by many top altcoins and I believe they will also do their best to stay on that position, its really a battle of survival. I’m happy that bitcoin still dominate the market, better to hold more.
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July 06, 2019, 10:32:29 AM
 #4



As for me, bitcoin dominance is not a very important issue as it could go up and down depending on the growth of the whole cryptocurrency marketplace. I even prefer that it goes below 50% as this is not a political movement where you need at least 51% or a majority to win the race. Hopefully, when the whole cryptocurrency has grown mature, bitcoin dominance will go down percentage-wise because the whole industry is growing well. Even it goes just to 10%, it will never have any impact on its future and arguably also on its price.
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July 06, 2019, 11:07:33 AM
 #5

Even if Bitcoin's market dominance drops to 25% bitcoin will still be the dominant force. Remember, the cryptocurrecy markets is easily swayed by news(both fake and legitimate), especially to most altcoins. Bitcoin will still be the most decentralized, most secure, and most globally adopted coin compared to all the other coins/tokens combined.


If Bitcoin dominance did fall to say 25% that in itself would mean higher prices per token/coins for other competitors out there. 25% BTC Dominance would allow others to narrow the gap and if there was another competitor in the 20%+ Dominance region then that would be an amazing time for crypto.


I think that as long as others narrow the gap on Bitcoin lowering its Dominance then the better it will be for the crypto market in general.

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July 06, 2019, 12:43:22 PM
 #6

it depends on how you define "dominance"!

- the flawed way that a website made popular is using market capitalization. it is flawed because it doesn't consider the "real supply" of different coins and also it is using a characteristic that doesn't belong to this market (it belongs to stocks). i posted some numbers here which you can see for more details: https://bitcointalk.org/index.php?topic=5158938.msg51618134#msg51618134
but basically 60% ish is the ratio of 17 million coins versus 12,000,000 million coins!
Code:
        17,000,000
12,000,000,000,000 /
----------------------------
60%!!!

this "gap" you are talking about here, is not going to be filled by this percentage. even if bitcoins so called "dominance" dropped to 10% or rose to 99.99% it still wouldn't change a thing. the real dominance is the adoption and usage of coins in real world. to put simply, bitcoin has it and others don't.

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July 06, 2019, 01:14:37 PM
 #7

If Bitcoin dominance did fall to say 25% that in itself would mean higher prices per token/coins for other competitors out there. 25% BTC Dominance would allow others to narrow the gap and if there was another competitor in the 20%+ Dominance region then that would be an amazing time for crypto.


I think that as long as others narrow the gap on Bitcoin lowering its Dominance then the better it will be for the crypto market in general.

A lower Bitcoin market dominance only lowers bitcoin dominance, well, in terms of markets. When talking about tech, adoption, security, and all those good stuff though, nope. Higher marketcaps of altcoins doesn't necessarily mean they're actually getting better. It mostly just means that they're getting more expensive in terms of price.

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July 06, 2019, 01:21:05 PM
 #8

I think many will agree that Bitcoin will not change in pace with its dominance even if some Altcoin will come closer to it, I really think that this can not be a subject anymore it is pretty obvious that it will not change anything but I guess there is a specific thing for other altcoins that is for a change and other traders does love the volatility in it and a likable cheap price from all other coins, So in my opinion even if Bitcoin does take the center stage in the Coinmarketcap Altcoins will sure have a spot for traders and investors alike even if they didn't end up in the top.

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July 06, 2019, 01:54:55 PM
 #9

Bitcoin will always be the number one crypto in coinmarketcap or in any crypto ranking site.
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July 06, 2019, 02:02:06 PM
 #10

The dominance of bitcoin is gradually increasing.. no one  will take place the bitcoin.. Bitcoin  will always remain top in cryptocurrency  No Doubt...
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July 06, 2019, 02:04:04 PM
 #11

Bitcoin will always be the number one crypto in coinmarketcap or in any crypto ranking site.
No doubt  it will alwayas remain on top in cryptocurrency...
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July 06, 2019, 02:07:30 PM
 #12

If Bitcoin dominance did fall to say 25% that in itself would mean higher prices per token/coins for other competitors out there. 25% BTC Dominance would allow others to narrow the gap and if there was another competitor in the 20%+ Dominance region then that would be an amazing time for crypto.
in a perfect world where we had other real projects, that would have made sense. but what we have is pump and dumps and creation of hundreds of new coins in a short time span since it doesn't cost anything and the reward is high! so if the bitcoin dominance fell to 20% in reality is shows that the number of pages on coinmarketcap.com has grown from the current ~25 pages (100 coin per page) to 70 pages.

Quote
I think that as long as others narrow the gap on Bitcoin lowering its Dominance then the better it will be for the crypto market in general.
if you want to see the ream "bitcoin dominance" and determined whether it was actually lowered or if it is still 100%, then look what happens to altcoins as soon as bitcoin price starts to make a move! look where the money goes and how it flees the altcoin market. that should give you a pretty good idea where the real dominance is at Wink

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July 06, 2019, 02:21:05 PM
 #13

This because bitcoin is the mother of all the coins. Besides, bitcoin is older than any other coin in the market to which means that it has been already had a good market from millions of users all over the world. So, for surr that bitcoin will dominate in the market. However, there could be q chance that one day there could be a crypto that will surpass the bitcoin market.

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July 06, 2019, 03:17:22 PM
 #14

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%
Just recently I made a thread about BTC dominance and the fate of altcoins as well. I think that when BTC dominance is as high as it is right now, altcoins don't stand a chance. Bitcoin is just one coin, so more than a thousand is far from playing a big part in this situation, let alone particular altcoins. If the dominance is 50% or the other hand, I think it's reasonable and gives space both for Bitcoin and for altcoins. The current growth, unlike the one before, seems to be at the expense of altcoins. It might be a temporary thing, but it seems to be a new trend to me.

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July 06, 2019, 03:30:41 PM
 #15

The dominance of bitcoin is getting higher because of many failed altcoins, and they are dying so people choose to transfer on bitcoin. A big portion are still filled by many top altcoins and I believe they will also do their best to stay on that position, its really a battle of survival. I’m happy that bitcoin still dominate the market, better to hold more.

I agree with you that BTC dominance is increasing because  of failing coins and tokens but at which point does that dominance become hindrance to the progress of other crypto and at which point does it fall to in order to make other crypto competitive.

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July 06, 2019, 03:38:52 PM
 #16

https://coinmarketcap.com/charts/#dominance-percentage

Check March 10th 2017.

This is what happened that day.

https://www.nytimes.com/2017/03/10/business/dealbook/winkelvoss-brothers-bid-to-create-a-bitcoin-etf-is-rejected.html

I always find it interesting how rarely mentioned the Winklevoss ETF refusal is in terms of setting off THE alt run. If it had passed they would've taken the shit of the century. The moment it didn't they exploded and have never really come back down.

It was a giant relief rally that they weren't going to be left behind in the legitimacy stakes.

This is still relevant as this time around Bitcoin is going to be legitimised in numerous ways that no alt ever will be, albeit in a subtler but more pervasive manner. Hardly anyone is building financial instruments for anything other than BTC. The 'alt season' meme may never be as potent again.

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July 06, 2019, 03:49:14 PM
 #17

Even if Bitcoin's market dominance drops to 25% bitcoin will still be the dominant force. Remember, the cryptocurrecy markets is easily swayed by news(both fake and legitimate), especially to most altcoins. Bitcoin will still be the most decentralized, most secure, and most globally adopted coin compared to all the other coins/tokens combined.
Yes, even if the dominance level of bitcoin fall low to 25% it will continue to be the dominant force of cryptocurrency. In the past once ethereum dominance level reached near to 35% and by that time was ethereum had its ath value. As the market is quite bullish I expect the dominance level of bitcoin to continue over the same region between 60%-65% through the year.
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July 06, 2019, 03:58:46 PM
 #18

People see BTC as the safest cryptocurrency every time the market moves, whether good or bad, as BTC is a safe harbor, and BTC dominance is increasing or decreasing.
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July 06, 2019, 04:34:31 PM
 #19

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%
The dominance of bitcoin is getting higher because of many failed altcoins, and they are dying so people choose to transfer on bitcoin. A big portion are still filled by many top altcoins and I believe they will also do their best to stay on that position, its really a battle of survival. I’m happy that bitcoin still dominate the market, better to hold more.
Not only those dying altcoins mate because if you will check the movement of good altcoins or even those stable coins yet the capitalization is lowering meaning some of their investors are taking support and going into Bitcoin so I think this is the reason why the dominance of this number 1 ranked coin is growing up to 62% and maybe even getting higher in future.but this is not a reason to withdraw support from alts instead use this an opportunity to buy more so when the trend change profit will be on your side as well

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July 06, 2019, 04:43:47 PM
 #20

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.
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