BTC Dominance: 66.9%

[josebcn]

Thoughts? 

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[yo_mama]

About 3 years ago amid the rising number of altcoins and ICOs, some bitcoin maximalists wrote reasons of why those altcoins would ultimately fail, and bitcoin would eventually dominate. Some of these articles can be found on Nakamoto institute website. Very interesting read.

The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.

One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.

[tondenga2122]

The 1-day chart showing that it will try to break the trendline again.
On 10 July Bitcoin want to break the resist but failed. And this time it happens again. I hope good news today so the volume can increase along with the confirmation of a breakout.

[tins]

Being a bad sign for altcoin, when dominance of Bitcoin goes up like this will make altcoin fall into bear market for a long time.

[Xphenosis]

It is really a bad sign among those who have bags of alts, but I suggests that you should bag some alts that has potentials not just driven by hype. I advice you to bag those stable alts as well.

[shinratensei_]

I thought that this is normal and everyone knows if this is not the altcoin time but this is the bitcoin's momentum. There will be another resistance that must be passed by bitcoin. im feeling worried if this another bearish trap again.
As long as the altcoin keeps follow bitcoin and it doesn't lose a lot of value and that's not a big problem.
Altcoin must release more products to attract investors.

[arpon11]

Being a bad sign for altcoin, when dominance of Bitcoin goes up like this will make altcoin fall into bear market for a long time.

Almost all the altcoins are losing against bitcoin when I checked at poloniex this morning and bitcoin dominant is increasing since the current bull trend commenced in April. I think before the end of this August we would be talking of 70% and that is going to kill the altcoin market further. There are some altcoins that I hold that have lost over 80% against bitcoin since this bull run started and some of them has even lost 95%.  The current bullish trend is about Bitcoin and not other coins and that is a sign that Bitcoin has started getting trust from the General public and people are looking at other coins as shitcoin 

[HellDiverUK]

Some expert says this market chart can push bitcoin into 15K or more in this end of august, keep buying bitcoin..its greedy time.

[freedomgo]

Update, it's 67.8% now per https://coinmarketcap.com/charts/#dominance-percentage
This is good for Bitcoin but bad for altcoins, as we can see, it's still a lower amount of money are inside the market compared to the last time there was a bull run, and as we see the BTC dominant rate continued to increase, this will lead to more and more dumping for altcoins

If we review the major altcoins in the market, we will see that they are not performing well, and I ca also feel that investors are pulling their altcoins investment to put on BTC to be on the safer side.

[binhvo1505]

Thoughts? 

Currently it is 67.4%, this is a good sign. In 2017, the value of Bitcoin has risen very high, rising to 75% and then it gradually slipped away and made the prices of alts rise.
So I think now we should buy more Bitcoin and wait for it to increase sharply, then you can take advantage of the difference to buy more than the alts you like.

[hotforblockchain]

About 3 years ago amid the rising number of altcoins and ICOs, some bitcoin maximalists wrote reasons of why those altcoins would ultimately fail, and bitcoin would eventually dominate. Some of these articles can be found on Nakamoto institute website. Very interesting read.

The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.

One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.

There is not really much to go on regarding BTC vs alts because in reality some of the alts are faster,cheaper and better than BTC.
Most of the ICO alts are almost dead , it really doe snot matter if the ICO behind them was legit or shit. Its all about speculation and drive to make money!

[Om.monata]

the dominance of btc in cryptocurrency is indeed big. At present the influence of BTC is extraordinary. so I think this is a possible thing because BTC is one of the crypto rulers who currently dominates

[AltcoinsBattle]

This is expected. Until the current ATH Bitcoin is updated, altcoins will continue to move to the ground. But some of them will survive. Of course, many will be replaced by new ones. Therefore, we need to monitor the market and new coins. And these new altcoins will be bought by new investors. These will be big rises.
I think that the time will come when an increase in the dominance of BTC will cause a drop in dominance. Due to survivors and new alts. Bitcoin is a kind of hostage to the situation.

[YuginKadoya]

Nothing can really stop the dominance of Bitcoin it will never change even if any Altcoin would combine and even with the number of ETH type of coins there is no chance in overtaking Bitcoin, Even if many countries would have to ban Bitcoin its price would continue to increase, And because of the cycle of Bear and Bull Market keeps on repeating, And traders simply love its volatileness.

We can see the true Bitcoin Dominance in this Chart beyond compare to any Altcoin.

[asder250]

Before altseason, Bitcoin everytime increased its dominance, I think it's only temporary and we will soon see Bitcoin dominance back to 33%. Do not worry. 

[jossiel]

Some expert says this market chart can push bitcoin into 15K or more in this end of august, keep buying bitcoin..its greedy time.

Every expert will say positive about bitcoin's price and we usually hear those kind of words of encouragement and speculations. This is a speculative market so expect speculations from those "experts" who has bitcoin to be positive.

Most alts are pumping although it isn't that much. The dominance of bitcoin is controlling them to have a slow pump while bitcoin itself has an unstoppable pump and I'm riding it.

[poodle63]

It is just frightening, because there is just no space for altcoins to grow. No wonder that ETH is still below 250 dollar, while BTC is smashing 12k level. But you do not have to worry, because it always comes to the point when BTC dominance falls.

But you must remember if this time the situation is much different compare with 2017's situation. ether loss demand in the ICO and no more icos are using ethereum to funding its project and this gives a huge impact to the price of ethereum after 2017 and this year it looks like ether is not even going so much with the bitcoin almost touch 12k level again.
This is a big problem for ethereum when bitcoin keep increase in its dominance and altcoin still lost its value.

[stadus]

Nothing special to that, BTC dominance will continue to increase as altcoins will suffer but that doesn't mean it will continue to hold that dominance forever, still crypto is very unpredictable, we might see some good surprise in the long run like the old dominant rate of BTC which is at sub 30% and  that resulted to a healthy overall market.

[crypmon259]

Actually its good for crypto in general and for btc hodlers

[suryapro]

All of this happened because of the price stability that bitcoin has, and everyone who has invested money in bitcoin will be very happy to see this development.