BTC Dominance on CoinMarketCap

[Memminger]

There was a time that Bitcoin’s dominance had fallen years ago but now it has risen again to 67 percent which is not that surprising really considering that it is the usual market movement in cryptocurrency. Before the birth of ethereum I think the Bitcoin dominance is around 90 percent if I remember correctly.

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[JollyGood]

CMC once had mistakes and was condemned by the community. However, it is still an indispensable part of the market for related data references. Nothing really accurate with the current data. Some exchanges have prevented additional data on CMC. Bitcoin is superior and will account for the highest proportion, behind it, many of the altcoin is in the bottle cap.

Since you mentioned previous mistakes by Coinmarketcap I started thinking about the fake data that is sent to them by exchanges.

Until recently p2pb2b claimed to be the biggest exchange in the world and sent fake trading data volumes of over $1.1 billion to Coinmarketcap so that must have contributed to the current +67% Bitcoin market dominance.

I guess the dominance percentages cannot be taken at face value.

[Dreamr]

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.

As they say, bitcoin is the king of the cryptocurrency world. thus, I think the bitcoin market dominance should be somewhere around 30-35% of the cryptocurrency market dominance to give the altcoins a room to grow in the future. But for bitcoin market dominance to reach over 60% that's overkill.

[DatKing]

Bitcoin dominance in the market is keeping its decisive condition now. It is around 8 times bigger than its closes rival Ethereum. It seems that Bitcoin will continue to dominate the market for a long time.

[JollyGood]

it's difficult to minimize the dominance of bitcoin. there are currently no more than 10%. even if all altcoins are combined there is still a long distance. it's difficult to minimize the dominance of bitcoin. there are currently no more than 10% coins. even if all altcoins are combined there is still a long distance.

You wrote that sentence twice?

[Oneandpure]

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.

As they say, bitcoin is the king of the cryptocurrency world. thus, I think the bitcoin market dominance should be somewhere around 30-35% of the cryptocurrency market dominance to give the altcoins a room to grow in the future. But for bitcoin market dominance to reach over 60% that's overkill.

Bitcoin always dominance in coinmarket cap because bitcoin is the king of cryptocurrency, must on the top and dominance on coinmarket cap for bitcoin, have higher price than other coin make bitcoin completely must on the top place at CMC. Bitcoin price always dominance with higher and lower price and altcoin difficult for back to higher after down.

[JollyGood]

Bitcoin will always be the number one crypto in coinmarketcap or in any crypto ranking site.

We already know more about that mate, we are trying to know the reason or reasons behind it dorminance in the world of cryptocurrency. First and foremost, it's the first decentralized digital currency among others that brake the ground for cryptocurrency communities to be know, and also, it's privacy has no rival as such many investors and gambler's are in love with the coin. Bitcoin is the first name you come to know before venturing into the world of cryptocurrency.

What are your views about the percentage of dominance Bitcoin could or should have in order to comfortably remain at the top of the list while at the same time allowing crypto space to grow? It currently stands at around 67% which means around 33% constitutes of the other crypto.

Do you think that is sustainable?

[Krislaw]

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.

Then it will need a marketcap of over $200bln to achieve that presently. But I don't think a dominance of 80-90% would happen because there are also other altcoins with potentials that would want to also maintain their own dominance too.
And don't hope for CMC to remove 2000 altcoins from the market list without any reason.

[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%

During mid-2017, the dominance was down to 33% and Ether was closely behind with 31% (BTC lost a large chunk of the market share when BCH forked out). But even then, Bitcoin was the most dominant coin out there. Now the market share has grown by almost 2x from those levels and we don't need to worry about the future of Bitcoin anymore.

I never knew BTC dominance ever fell that low and ETH was ever that close behind it. Ethereum will increase in its price and capital even though others are offering smart contracts too and it seems as time went by BCH started to devalue and Bitcoin just rocketed in its dominance.

[taichinhhieuqua]

it will only decrease to help the altcoins to grow because with the current rate of BTC

[verita1]

Today the dominance of Bitcoin in the market is 61.1%, it has dropped 0.9% according to when this thread was created a few months ago. Perhaps it is due to the growing market of the DeFis but it does not stop surprising us to see the great support that Bitcoin has in the market. Bitcoin for Bitcoiners is a range of possibilities despite its volatility.

[bryant.coleman]

Since you mentioned previous mistakes by Coinmarketcap I started thinking about the fake data that is sent to them by exchanges.

Until recently p2pb2b claimed to be the biggest exchange in the world and sent fake trading data volumes of over $1.1 billion to Coinmarketcap so that must have contributed to the current +67% Bitcoin market dominance.

I guess the dominance percentages cannot be taken at face value.

Market capitalization is based on the price and circulating supply of the coins, and it is not dependent on the data from any exchange. You can argue that p2pb2b was rigging the trade volumes. But it has no impact on the circulating supply, or on the market capitalization of the Bitcoin. It is not possible to change the circulating supply (unless there is a hard fork). On the other hand, if the prices were rigged, then you can argue that the data is wrong. But as of now, there is no evidence for the same (and it is almost impossible to manipulate the price).

[ichi]

I think many will concur that Bitcoin won't change in movement with its strength regardless of whether some Altcoin will come nearer to it, I truly imagine that this can not be a subject any longer it is pretty clear that it won't transform anything other than I surmise there is a particular thing for other altcoins that is for a change and different dealers do cherish the instability in it and an agreeable modest cost from every other coin, So as I would see it regardless of whether Bitcoin takes the middle stage in the Coinmarketcap Altcoins will sure have a spot for merchants and speculators the same regardless of whether they didn't wind up in the top.