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Author Topic: Bitcoin Dominance rising again. What is happening?  (Read 2030 times)
SquallLeonhart
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August 26, 2019, 07:54:44 AM
 #61

It has seen over 70% recently and that is a lot, its down couple notches because price went down a bit but its still at %68 and that is a whole lot. Do you guys think that will go down because bitcoin price will go down or do you think altcoins will increase?

Both would drop the dominance a lot and I am not sure which one will happen first. I think altcoins increasing seems like not gonna happen anytime soon because for that to happen we need to have a super hype of crypto and that is really not happening for the past 1 year now, they are all falling and falling like crazy and there is no super hype going around neither so we are stuck with the option of bitcoin falling and that is not really nice for our portfolio neither. I hope altcoins going up one will happen but I am afraid other one looks more possible right now.
There is no ultimate hype for them because the only chance that they had has already been destroyed by scammers, and no matter the super hype they even create right now, it would be very hard for investors that has been scammed to go back to altcoin market, the highest they can do is to make investment into bitcoin market.

The IEO that I expected to have assisted in creating that super hype is not making waves at all, as binance is not fining much project they can rely on to register and the other IEO we have been seeing are more like ICO because they are still being owned and operated by scammers, and for these reasons, the dominance of bitcoin might remain here for a very long time because that is still the best market right now to have your investment.
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August 30, 2019, 10:21:26 PM
 #62

The IEO that I expected to have assisted in creating that super hype is not making waves at all, as binance is not fining much project they can rely on to register
I honestly expected more too. I think Binance shot itself in the foot by allowing whales to front run others and also operate its own bots to buy into these IEOs, which means that the average person doesn't stand a chance to invest.

Another reason Binance might not have taken the initial mini hype to the next level is because they beforehand knew that they had to stop serving US residents, who acounted for a large percentage of their altcoin trading volumes.

Overall, it's a good thing IEOs didn't grow past their infancy. It means less people will lose the money they worked hard for because most of the projects listed were scams with pie in the sky promises.

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August 30, 2019, 11:23:41 PM
 #63

It has seen over 70% recently and that is a lot, its down couple notches because price went down a bit but its still at %68 and that is a whole lot. Do you guys think that will go down because bitcoin price will go down or do you think altcoins will increase?

Both would drop the dominance a lot and I am not sure which one will happen first. I think altcoins increasing seems like not gonna happen anytime soon because for that to happen we need to have a super hype of crypto and that is really not happening for the past 1 year now, they are all falling and falling like crazy and there is no super hype going around neither so we are stuck with the option of bitcoin falling and that is not really nice for our portfolio neither. I hope altcoins going up one will happen but I am afraid other one looks more possible right now.
There is no ultimate hype for them because the only chance that they had has already been destroyed by scammers, and no matter the super hype they even create right now, it would be very hard for investors that has been scammed to go back to altcoin market, the highest they can do is to make investment into bitcoin market.

The IEO that I expected to have assisted in creating that super hype is not making waves at all, as binance is not fining much project they can rely on to register and the other IEO we have been seeing are more like ICO because they are still being owned and operated by scammers, and for these reasons, the dominance of bitcoin might remain here for a very long time because that is still the best market right now to have your investment.
Agree with you it is nature and the dominance of the market. The price will be reflective  or will increase and decrease with time it happens when falls then again rises.'  You only will have to make it your investing strategies that when price falls just buy and when it increases try to sell so that you will earn bigger than before
Bitcoin traders prefer to hold than trading daily price swings but the casual day trades requires to flip flop the trades on lower timeframes. If Bitcoin price touches the resistance on the 30 min timeframe, day traders look for the entry price level that confirmed with average technical analysis. In other case, price wants to rediscover the lower line on the turned trend, daily technical analysis suggests us to buy the sold amount of Bitcoin with lower prices depending on the risk tolerance of the trader.

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September 01, 2019, 12:42:59 AM
 #64

I think we should compare within the period I specified

That is, the period from the recent bottoms (both Litecoin's and Bitcoin's earlier this year) till now, and within this period specifically Litecoin is still a better alternative to Bitcoin if you primarily aim for speculation.

Litecoin is now underperforming since the bottom and is at its lowest ratio since 12-2017.

Whoever held on halvening hype got rekt.
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September 01, 2019, 04:49:34 AM
 #65

I think we should compare within the period I specified

That is, the period from the recent bottoms (both Litecoin's and Bitcoin's earlier this year) till now, and within this period specifically Litecoin is still a better alternative to Bitcoin if you primarily aim for speculation.

Litecoin is now underperforming since the bottom and is at its lowest ratio since 12-2017.

Whoever held on halvening hype got rekt.

that is partly because litecoin, like other altcoins, is taking effect from bitcoin and since during the LTC halving hype a lot of shit was going on in bitcoin market and price couldn't go up there was dumping all over the altcoin market including in LTC.
on top of that there was a lot of FUD and some reality coming out about how LTC development is dead, which it partly was since they just copy everything from bitcoin.
which is why i don't think we can call it "underperforming"!

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September 01, 2019, 03:51:07 PM
 #66

It has seen over 70% recently and that is a lot, its down couple notches because price went down a bit but its still at %68 and that is a whole lot. Do you guys think that will go down because bitcoin price will go down or do you think altcoins will increase?

Both would drop the dominance a lot and I am not sure which one will happen first. I think altcoins increasing seems like not gonna happen anytime soon because for that to happen we need to have a super hype of crypto and that is really not happening for the past 1 year now, they are all falling and falling like crazy and there is no super hype going around neither so we are stuck with the option of bitcoin falling and that is not really nice for our portfolio neither. I hope altcoins going up one will happen but I am afraid other one looks more possible right now.
There is no ultimate hype for them because the only chance that they had has already been destroyed by scammers, and no matter the super hype they even create right now, it would be very hard for investors that has been scammed to go back to altcoin market, the highest they can do is to make investment into bitcoin market.

The IEO that I expected to have assisted in creating that super hype is not making waves at all, as binance is not fining much project they can rely on to register and the other IEO we have been seeing are more like ICO because they are still being owned and operated by scammers, and for these reasons, the dominance of bitcoin might remain here for a very long time because that is still the best market right now to have your investment.
Agree with you it is nature and the dominance of the market. The price will be reflective  or will increase and decrease with time it happens when falls then again rises.'  You only will have to make it your investing strategies that when price falls just buy and when it increases try to sell so that you will earn bigger than before

As long less Bitcoin is between 9000 to 11000$ range we cannot exactly say what will be the next move of bitcoin. Bitcoin Dominance and altcoin recovery is very much dependent on what will be the next big movement in bitcoin price. 
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September 02, 2019, 09:45:36 PM
Last edit: May 16, 2023, 07:17:24 AM by fillippone
 #67

So, finally we hit 70% according to CMC:



The alts carnage is still on.


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September 03, 2019, 06:25:23 AM
 #68

So, finally we hit 70% according to CMC:



The alts carnage is still on.

Well, even today, the dominance of bitcoin continues to grow. although the increase in the price of bitcoin was quite good at the beginning of this month, it's just that recovery of an altcoin is still quite slow. I have searched out the reason for the price of bitcoin to rise for this month, but I did not find a good reason. I only speculate that this is the usual cycle at the beginning of the month this year.
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September 06, 2019, 06:18:42 PM
 #69

So, finally we hit 70% according to CMC:



The alts carnage is still on.

Well, even today, the dominance of bitcoin continues to grow. although the increase in the price of bitcoin was quite good at the beginning of this month, it's just that recovery of an altcoin is still quite slow. I have searched out the reason for the price of bitcoin to rise for this month, but I did not find a good reason. I only speculate that this is the usual cycle at the beginning of the month this year.

It`s simple, crypto community is not big, add to that so many new coins and tokens, basically same people invest and reinvest, and majority is doing that with only one purpose, to earn more bitcoins. When bitcoin dominance is rising on the market, you need to know that many people sell alts for bitcoins, but that will change over time. In 2017 bitcoin dominance was over 30%, I can`t remember exactly, and I believe that will happen once again in the future.

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September 15, 2019, 08:56:26 AM
 #70

Found this tweet by PlanB:

Quote
Get ready for round 6
#AltcoinAnnihilation



https://pbs.twimg.com/media/EER8Q2EXYAAwQwb?format=jpg&name=large

BTC dominance is now just belo 70%: is another leg up in the making?

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October 09, 2019, 02:36:38 PM
Last edit: May 16, 2023, 07:11:21 AM by fillippone
 #71

Apparently Plan B wasn't right (he cannot always be, and I prefer him being right on Stock to Flow model!)

Dominance is taking a breath:



ETH is going up, I don't know why.



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October 09, 2019, 02:53:08 PM
 #72

Apparently Plan B wasn't right (he cannot always be, and I prefer him being right on Stock to Flow model!)

Dominance is taking a breath:



ETH is going up, I don't know why.



This was pretty awesome, and for so long time eth showed an unexpected movement, as well as demand was merely involved. However we really need a lot of serious ways to have the best chance that could help eliminate ethereum resistance that tend to make the price suppressed towards cheaper value. Bitcoin could be our trigger starter this time, don't be surprised if eth also had been performing amazingly.
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October 09, 2019, 04:28:23 PM
 #73

People have high hopes about bitcoin. we in the fourth quarter of this year 2019 and people are expecting this year to be like 2017 where bitcoin price skyrocketed from roughly $5,000 to almost $20,000 within a very small period of time. People are investing more in bitcoin that why the price is going upwards.

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October 09, 2019, 05:11:46 PM
 #74

People have high hopes about bitcoin. we in the fourth quarter of this year 2019 and people are expecting this year to be like 2017 where bitcoin price skyrocketed from roughly $5,000 to almost $20,000 within a very small period of time. People are investing more in bitcoin that why the price is going upwards.

You maybe right. Bitcoin has already started showing signs similar to 2017. It first went to $13K from $6K and then corrected to $8K. Once it found bottom at around $8K, it once again started rising. It gained 4.5% in last 3 hours and already above $8.5K. If this rise can converted to rally then we can surely see $20K by the end of year, no wonders!

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October 09, 2019, 06:26:36 PM
 #75

After 2018 decline where many altcoins died, people started shifting towards Bitcoin because it is comparatively safe and more trusted. Also, in 2019 itself, when the price went up by almost 50% in April, the increase in dominance became more sharp and parabolic. Now, when the BTC price dropped by almost 30%, the volume started shifting towards altcoins. But since bitcoin pumped again, I doubt there will be any significant change in dominance.
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October 09, 2019, 09:36:16 PM
 #76

If this rise can converted to rally then we can surely see $20K by the end of year, no wonders!
Not likely. It's so funny how people always behave the same---we have gone through a major correction in the last months, but every minor increase (such as today) makes people regain their confidence in the market.

Yesterday people were overly bearish, today people are overly bullish. Make sure to keep an eye on the moving averages to see where we close today. No bullish close means that it isn't likely going to be followed up by more increases.

Don't pay attention to perma bulls who always rehash the same bull crap narrative---people need to be made aware of the different phases in a market, and that it doesn't always look rosy in the short to mid term.

BSV is not the real Bcash. Bcash is the real Bcash.
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October 10, 2019, 04:47:39 AM
 #77

Apparently Plan B wasn't right (he cannot always be, and I prefer him being right on Stock to Flow model!)

Dominance is taking a breath:



ETH is going up, I don't know why.


The dominance of bitcoin keeps falling gradually. By the time ethereum dominance slowly rising. This is a relief for most of the altcoin holders, because most of the altcoins gets impacted by the growth happening with ethereum. I believe there is more chances for price of ethereum cross $200 shortly, further there seems to happen some large scale growth.

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October 10, 2019, 07:52:02 AM
 #78

On a side note, we just all need to remember how bad dominance is as an indicator of Bitcoin supremacy over other cryptos.
Not only the infamous BitWise Report already shed some light on the volume rigging procedures from many exchanges, but also now other indexes are proposed.
o
One of the latter is this, very simple conceptually from Kyle Torpey:

Forget the Bitcoin Dominance Index and Track This Instead


Quote
With all of this in mind, it may be wise to ignore the BDI completely and replace it with something more practical, such as a comparison of the Bitcoin and gold markets. Bitcoin's utility as an apolitical, uncontrolled form of digital money is still the main, proven use case of this technology, which is why it was given the "digital gold" nickname.


Quote
The combination of Bitcoin's digital gold properties with the size of the entire store of value market is behind some of the most bullish Bitcoin price predictions for the next five to ten years, such as the $100,000 price predicted by Morgan Creek Digital Partner Anthony Pompliano for the end of 2021. But of course, for Bitcoin to hit those numbers, it needs to increase the kind of Bitcoin dominance that really matters: Bitcoin vs. gold, not Bitcoin vs. altcoins. Bitcoin has already started to chip away at gold’s role as a global, apolitical store of value, and that trend is likely to continue over the next five to ten years as all aspects of society become increasingly digitized.

Just some food for thoughts.

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October 10, 2019, 10:48:18 AM
 #79

Yesterday people were overly bearish, today people are overly bullish. Make sure to keep an eye on the moving averages to see where we close today. No bullish close means that it isn't likely going to be followed up by more increases

This is called overreaction, isn't it?

Don't pay attention to perma bulls who always rehash the same bull crap narrative---people need to be made aware of the different phases in a market, and that it doesn't always look rosy in the short to mid term

The same is equally true with respect to permabears

Who are eager to reshuffle their old stories about Bitcoin going down to zero soon. And so what? Even if so, enjoy the ride while it lasts (taxi drivers' motto). We are heading to the next Bitcoin halving, and if anything, this is a strong fundamental (unless it is going to fall flat on its face like it happened with Litecoin's halving last time), no matter what moving averages are telling us right now. Fundamentals rule the world and conquer the markets

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October 10, 2019, 05:13:22 PM
 #80

If this rise can converted to rally then we can surely see $20K by the end of year, no wonders!
Not likely. It's so funny how people always behave the same---we have gone through a major correction in the last months, but every minor increase (such as today) makes people regain their confidence in the market.

If it was any other investment, I wouldn't have predicted it to go 250% by just seeing 6% increase. But this is Bitcoin and most of the Bitcoin investors are immature traders. They are very easy to manipulate. This is one of the most prominent reason why prices of Bitcoin fluctuate so much. Don't expect that Bitcoin will follow the trade cycle of Rise-Peak-Fall-Bottom, it mostly move randomly. So even if we seen correction for most of the times in August-Sept, just 2-3 more increase of 6-10% and Bitcoin market will easily turn to bullish one!

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OFFICIAL EUROPEAN
BETTING PARTNER
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ROLLBIT COIN
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