Bitcoin market dominance, Good for altcoins or Not

[labuan]

I think when many people used any coin istts good for cryptocurrency, because if many people used bitcoin for any transaction, that indicates that people believe in cryptocurrency. So dont be afraid, because every coin have good special project.

[Herbert2020]

the only difference that this so called "dominance" does is to fool newbies into buying or selling altcoins. when the dominance is small they are fooled into thinking altcoins are good so they invest, then they get dumped on and as prices fall that dominance rises and they again are forced to sell this time.
in the end there is no real effects on future of altcoins because newbies don't affect the market that much. and altcoins are on the same dying direction because the are pump and dumps. as a result we will keep seeing this marketcap ration go up and down as altcoins get pumped and then die.

[Marble777]

You can see your wallet, is your altcoin going up or not? if you invest with altcoin which is close to bitcoin rankings, it is likely that the price will follow the bitcoin chart. yes but not all of them but altcoin usually follows the bitcoin price chart. but believe that there will be time for altcoin to grow prices again.

[Menawi12]

The cryptomarket keeps on fluctuating with current market cap below 300 billion at the market. the bitcoin market dominance has reach all time high of 68.6% as time of writing. what effect does this have on altcoins. i think think it spell doom for altcoin if bitcoin will dominate the current market leaving the entire altcoins with nothing.

In my opinion, if the dominance of bitcoin at the 68% level continues long, it will not be good for altcoin. Investors will be more inclined to choose bitcoin because there is no certainty of market conditions. In addition, new projects will be hampered in collecting funds from the sale of tokens because each investor prefers to hold bitcoin

[DeepChipolino]

All market parameters are oscillatory. The time will come when Bitcoin will lose position to altcoins. It would be nice if this happened because of improving the quality of the average project, and not because of the number of projects.

[ivaf]

Of course, the dominance of bitcoin in the market adversely affects altcoins. If this situation continues, we can see the massive closure of many projects. I would not want events to develop according to this scenario.

[aprilnot]

Bitcoin dominance is not good for altcoins. this makes altcoin easy to manipulate when bitcoin moves. especially now that there are too many altcoins on the market. so this makes altcoin difficult to develop.

[dat.ho12492]

When Bitcoin market dominance start coming down then altcoins will start their up move. It is very difficult for altcoins to rise till the dominance of bitcoin will not start dropping or stay at any level.

More simply, bitcoin dominance is not a good thing for altcoin because of the energy source that gives bitcoin more dominance and power over time, all generated from altcoin, whenever the dominance of Bitcoin achieve at high levels, altcoin always going down and losing the green season. But besides, it's not good for altcoin but it's good for us when the value of bitcoin increases, we hold more bitcoin will be a good thing, almost all of us have certain expectations on bitcoin, so hopefully bitcoin dominance should be reasonable, it should still create conditions for altcoin to be balanced, everyone will be happy.

[tranthidung]

People tend to wrongly use market domination (bitcoin, altcoins). This indicator should be used in combination with at least one supplementary indicator: total daily volume (bitcoin, altcoin).

- Total market cap of bitcoin, altcoins (by excluding bitcoin)
- Total volume of bitcoin, altcoins (by excluding bitcoin)

I meant if dominance rate of bitcoin increases, it implies people spend more money to invest in bitcoin. However, this indicator itself is not enough to judge that investors reduce their capital invest in altcoins. If total daily volume of altcoins still increase or even stable; I don't call that altcoins have been on their downward direction. Because demands on altcoins remain stable or even rising. It is a good signal, in my opinion.

Let's recap, to neutrally assess market condition, we should apply a combination of two indicators:
- Total market cap of bitcoin, altcoins
- Total daily volume of bitcoin, altcoins.
Let's observe their trends in time series plots before jumping in conclusions or making forecasts.

[livingfree]

It's a tie now, bitcoin is dropping at these times now if you will notice it. But the bitcoin dominance remains stable and strong at 68.5%.

The more bitcoin dominance grows, the interest for altcoin investments will fall, and this is of course very bad for those who have invested or want to invest in altcoins.

It's not literally falling but the movement for altcoins is stagnant. They aren't falling IMO, the increase that everyone expected for them was sort of delayed because of btc's dom. But you are right with that pattern, if btc's dom. keeps rising, more delay will come for the rise of alts.

[masterrex]

The cryptomarket keeps on fluctuating with current market cap below 300 billion at the market. the bitcoin market dominance has reach all time high of 68.6% as time of writing. what effect does this have on altcoins. i think think it spell doom for altcoin if bitcoin will dominate the current market leaving the entire altcoins with nothing.

I think this is the true state of the cryptocurrency market today. As far as i see it more investors are jumping on Bitcoin bandwagon and selling their altcoin holdings resulting in Altcoin price dump, and because of these the bitcoin price was rallying againts most of the altcoins. I think the accumulated growth of Bitcoin was organic and not a bubble this time and sadly its not good on the altcoins side. This is just my personal opinion and im not an expert!

[ven7net]

I believe that you are right, the growth of BTC dominance clearly affects the price of altcoins. Of course, there are some altcoins that show more or less positive growth dynamics, but altcoins suffer from the total weight of the product. Let's hope that in the near future we will still see the altcoin season and this will refresh the crypto market.

[Maestro75]

The present Bitcoin dominance of the market is very bad for the entire market. It is the percentage in dominance that I often check whenever I visit the coinmarketcap site. I feel bad knowing that bitcoin controls 69%. Altcoins will not rise well with that level of dominance by bitcoin. I hope the dominance goes down to create room for growth for Altcoins.

[Alisha FR]

altcoin will have the same time as BTC today, the thing that has to happen in altcoin is altcoin must really control the real market and master each of their sales targets, if altcoin is really really accepted in the real market then I think altcoin will be king in various target markets.

[redsun114]

This bitcoin dominance would not be the first of its kind, bitcoin has had series of dominance in the past and we have seen its effect on altcoins already and how altcoins later bounced back, this also happened in 2017, while bitcoin was dominating the market, altcoins were going down in value, it was not very visible then because most of them were very high in price because of the hype of ICO.

But this time around, bitcoin dominance came when the altcoins were still in the bear market, so it added to why majority of them are having very discouraging value right now, but altcoins season will come very soon and we will see some of them spike in price once again, but before their season, we have to still depend on bitcoin to go sideways for investors to start putting money into altcoins.

[tbct_mt2]

This bitcoin dominance would not be the first of its kind, bitcoin has had series of dominance in the past and we have seen its effect on altcoins already and how altcoins later bounced back, this also happened in 2017, while bitcoin was dominating the market, altcoins were going down in value, it was not very visible then because most of them were very high in price because of the hype of ICO.

But this time around, bitcoin dominance came when the altcoins were still in the bear market, so it added to why majority of them are having very discouraging value right now, but altcoins season will come very soon and we will see some of them spike in price once again, but before their season, we have to still depend on bitcoin to go sideways for investors to start putting money into altcoins.

In brief:
The more pressure on altcoins to burry them into deeply mud, the bigger momentum they have to bounce back. Altcoins simply need a right time and a trigger to bounce back. It seems that we already have a trigger for altcoin season, that come from SEC. Bitcoin started to fall, why not seriously and positively think of altcoin season, started from today?

[dtb.agency]

Look at this spring then BTC was ~4k$ and was happened with ALTs when BTC skyrocketed. Pain...

[tvplus006]

All market parameters are oscillatory. The time will come when Bitcoin will lose position to altcoins. It would be nice if this happened because of improving the quality of the average project, and not because of the number of projects.

The dominance of bitcoin shows that investors trust bitcoin more than altcoins. And today we see that the dominance of Bitcoin is 68.4%

[justdimin]

I can't lie that it has been HORRIBLE for altcoins so far, its not even remotely close to have a silver lining in it and so far it has been just pure awful drops in price for all altcoins. That is why I am not sure if we can really find a good thing in this for all altcoins.

Maybe we can say that dominance is so high that eventually altcoins will have to skyrocket and thats how we can make so much money, I know it sounds absurd because we have been saying that for over a year now but since the dominance got super high lately maybe this time it is actually true who knows. I really don't see anything that could be considered good but as far as we know maybe a huge bull run for all altcoins are brewing these days and if that happens than we will say thank god this dominance happened however until than it looks like everything about this is bad.

[Bellarg]

BTC market dominance is growing altseason probability is lowering, thats simple.
There are only few alt project with real usecases