Why is Bitcoin market dominance rising fast?

[zedicus]

Its normal for bitcoin to be that dominant for a stroing long and consistent phase.Bitcoin is the center of cryptocurrency now and thats the reason why bitcoin dominance is really big compared to alt bitcoin is the most known cryptocurrency in the world and every investor in the cryptoworld owns bitcoin,altcoin dominance is small because there are too many altcoins that people are buying and hoarding

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[Herbert2020]

It is basically because of the fear of the people in the cryptocurrency market and community. People are transferring their wealth from altcoin to bitcoin because they think that it is the safe bet in the cryptocurrency market because bitcoin really dictates the trend for the overall market so they don't need to worry about other things. It is like an index fund.

Actually they are still waiting for the moment where there is an increase in October, therefore all prices are not that stable in all markets, and this is not a matter of wealth but waiting for the right moment, if you see who is more trend both have the same good trend and good, it's just that bitcoin dominates in all markets, actually it's just a matter of time for movement in all markets ...

altcoin bag holders have been waiting for the rise for a long time. they keep changing that "month" when the rises are supposed to come every month or two for nearly two years and all the time their bags are losing value consistently each month.
what they don't realize is that altcoin pumps only happen in coins that are already dumped not those that they are bag holding which are still in pumped state.

[Kizaki]

Quantity is the reason.Bitcoin is just one and only bitcoin while there are thousands of altcoins and investors are spread around them so no dominance and huge number of holders are there for a specific altcoins.While bitcoin is just one strong coin that's why there are many user so bigger dominance

[Sanitough]

Quantity is the reason.Bitcoin is just one and only bitcoin while there are thousands of altcoins and investors are spread around them so no dominance and huge number of holders are there for a specific altcoins.While bitcoin is just one strong coin that's why there are many user so bigger dominance

It's the demand of BTC that makes it this dominance, however, I see it's not a good thing since the demand of BTC has reduce the demand of altcoins.
when the market is good, meaning the overall market, btc dominance is just around 50% and less, but since the market is bad now, people are throwing their money to btc as they know even if btc will fall it will not fall that hard compared to what will happen to altcoins.

[Abiky]

It is basically because of the fear of the people in the cryptocurrency market and community. People are transferring their wealth from altcoin to bitcoin because they think that it is the safe bet in the cryptocurrency market because bitcoin really dictates the trend for the overall market so they don't need to worry about other things. It is like an index fund.

Probably. We all know that the crypto market behaves in strange and bizarre ways. Since 2018, things have proceeded negatively for crypto. There's been lack of interest within altcoins in general, as investors support Bitcoin in every way. This may not last for long, as altcoins are implementing innovative features for the mainstream world to use. There are many cryptocurrencies out there which are faster than Bitcoin itself. Once the pioneer cryptocurrency becomes slow and expensive again, then investors will head back to altcoins.

I believe that Bitcoin's market dominance will always be high for a good reason. After all, Bitcoin's the most secure cryptocurrency to date. No other altcoin, could match Bitcoin in terms of resiliency and censorship-resistance. But of course, this doesn't mean that altcoins will disappear altogether. Only a select few will remain in the space due to their dedicated development and innovation over time. Ethereum is one of those altcoins that will remain behind Bitcoin for years to come. When altcoins rise in price while Bitcoin remains stagnant or bearish on the market, the pioneer cryptocurrency's market dominance will decline. The same thing happens vice versa.

Nonetheless, with the level of growth Bitcoin has experienced over time, its market dominance could reach 90% and above. Before the bull market in 2017, Bitcoin used to have an extremely-high market dominance. Time will tell us how farther will the market reach as institutional investors come into play. Just my thoughts

[tetyulfania]

Bitcoin market dominance rising fast because all investor look working together want to invest their money in bitcoin and looks do not care about altcoin investment and make bitcoin have higher transaction.

[doomistake]

Over the past months, Bitcoin has been rising in market dominance at a fast pace. Altcoins have been on a constant decline in price ever since the bear market began back in 2018. They've been the ones which suffered the most, while Bitcoin has obtained greater prominence within the crypto market.

Which is why, it wonder me wonder why Bitcoin's market dominance have been rising so fast? What could be the cause of this? Will altcoins die soon, as a result of Bitcoin dominating the whole market? Or will they still survive?

So far, Bitcoin has gained the attention of people within the mainstream world, especially since it's one of the most limited cryptocurrencies in supply with an outstanding development team. The Lightning Network is its most interesting feature yet, leaving many wondering if it will render altcoins obsolete. If this indeed happens, then Bitcoin would effectively centralize the whole crypto market. What are your thoughts about this?

There are several possible explanations about why this is happening, one is if there is an increase in the number of cryptocurrency users around the world most likely the first crypto they will ever buy will be bitcoin, this happened to me and I am sure that I am not an exception, but as they learn more about the market they will decide to diversify their holdings and will buy altcoins making the market dominance of bitcoin to go down.

Another explanation is simply that many of the altcoins in the market were not worth their price in bitcoin and that is why they have been suffering a long decline, and finally it is also possible that many investors seeing that bitcoin showed signs of a bull run decided to sell their altcoin holdings and this caused the general uptrend in the market dominance of bitcoin.

This could be also because the doubters are turning to be a believer, after doubting bitcoin, making allegations, rumors, and other gibberish things about bitcoin. I'm guessing it won't take that long for bitcoin adaptation dominate the whole world, including the Government that is been spreading FUDs to the public which is exasperating. Well they can't help but to spread bad rumors about bitcoin because they are mad for not having control on it.

[bounceback]

it can be said why the dominance of the bitcoin market is increasing maybe because when the price of bitcoin is bullish, but if other coins (altcoin) might still not be obsolete because now we can see that bitcoin is going up, other altcoins will also go up, from that analysis it can be said that altcoin or other coins can not be said to be obsolete.

[alexsandria]

I think the reason why bitcoin market dominance is rising fast is because it is really the most popular cryptocurrency. When I first heard about bitcoin, I taught it is the only digital currency available, that is why it is the first that I have tried and because of continuous using, it became my mostly used. I think what happen to me is the same with the other new investors at first. Also, knowing the pros of using it and knowing it is the mostly used, then it is the one that will be chose. Even I will choose the most popular right? But don't get me wrong, it doesn't mean that it is the most popular also means that it is just popular. We all know what bitcoin can bring to the table.

[Astvile]

Because of the demand, I think? We know bitcoin ever since it is the top dominating cryptocurrency it is the most used cryptocurrency and the main picture of the cryptocurrency world so it is normal for bitcoin to be at the top in dominance. Plus that most users are trading mainly bitcoin and not altcoins under bitcoin so that adds up and ended up bitcoin havin the top dominance.

[Jendral Istimewa]

because almost everyone knows many people interested in bitcoin have a lower Fraud Risk for Buyers. Transaction fees for bitcoin payments are significantly lower compared to those made for credit and debit card purchases. There is no third party involvement. so that bitcoin is trusted by many people to make transactions or invest.

[Maslate]

it can be said why the dominance of the bitcoin market is increasing maybe because when the price of bitcoin is bullish, but if other coins (altcoin) might still not be obsolete because now we can see that bitcoin is going up, other altcoins will also go up, from that analysis it can be said that altcoin or other coins can not be said to be obsolete.

I believe the best reason why bitcoin is gaining a fast market dominance is because its own market price is always in a progress. Even a lot of times bitcoin has dropped its price, it still managed to recover after a couple of days or months. Unlike altcoins that are in a continuos decline and so more investors today have sell their altcoins and buy again new coins with potentials like bitcoin.

[Distraction]

Over the past months, Bitcoin has been rising in market dominance at a fast pace. Altcoins have been on a constant decline in price ever since the bear market began back in 2018. They've been the ones which suffered the most, while Bitcoin has obtained greater prominence within the crypto market.

Which is why, it wonder me wonder why Bitcoin's market dominance have been rising so fast? What could be the cause of this? Will altcoins die soon, as a result of Bitcoin dominating the whole market? Or will they still survive?

So far, Bitcoin has gained the attention of people within the mainstream world, especially since it's one of the most limited cryptocurrencies in supply with an outstanding development team. The Lightning Network is its most interesting feature yet, leaving many wondering if it will render altcoins obsolete. If this indeed happens, then Bitcoin would effectively centralize the whole crypto market. What are your thoughts about this?

First of all, Bitcoin is the oldest and the most popular cryptocurrency in the market. Bitcoin has Lightning Network and it speeds up the payment transactions in places that Bitcoin is used as a payment option. And of course, Bitcoin is the most valuable crypto for a long time.

[johnmason92]

Bitcoin, being the first of many, has been centre of attention on the cryptomarket for the longest, people have been able to see what you can do with it and how much money there is to be made. It has been accepted into our daily lives at some degree, and other than small daily transactions, it is doing a fantastic job. The Altcoins have their better qualities, like faster (almost instant) transactions and people are starting to see that (which is why many of them are in the green). Having said that, the mass trust in BTC like in no other currency, better or worse, so my prediction is that the market dominance will only get bigger.

[MathGame]

Bitcoin dominance is rising because the majority of people are buying only bitcoin. Market dominance determines the popular coin in the market, the coin majority of the people are buying. There is no doubt, bitcoin is the most popular crypto with over 68% of the market dominance and the rest of altcoins got only 32% of the market.  

[pixie85]

Because of the demand, I think? We know bitcoin ever since it is the top dominating cryptocurrency it is the most used cryptocurrency and the main picture of the cryptocurrency world so it is normal for bitcoin to be at the top in dominance. Plus that most users are trading mainly bitcoin and not altcoins under bitcoin so that adds up and ended up bitcoin havin the top dominance.

The demand is the easy and most straightforward explanation but the real reason is there was a lot of money on the market in 2017 and 18 when people were investing in ICOs and now when those failed and so many altcoins have died people are looking for a something to weather the storm and that something is Bitcoin.

They can't pump it a lot because they lost so much money on ICOs that even if they sell now to buy bitcoin they're getting less than 10% of the money they had last year but this 10% is going to bitcoin not another new altcoin. They aren't going to be fooled twice.

[Abiky]

This could be also because the doubters are turning to be a believer, after doubting bitcoin, making allegations, rumors, and other gibberish things about bitcoin. I'm guessing it won't take that long for bitcoin adaptation dominate the whole world, including the Government that is been spreading FUDs to the public which is exasperating. Well they can't help but to spread bad rumors about bitcoin because they are mad for not having control on it.

Probably. After all, there's no reason why Bitcoin should be avoided in the first place. Altcoins are still inferior than Bitcoin, as they don't have recognized branding within the mainstream world. They also lack user adoption, which explains why their infrastructure is much smaller than that of Bitcoin. As the pioneer cryptocurrency improves every step of the way, we'll see a much larger audience supporting it in the future. Altcoins may have better tech and features, but they're not as reliable as Bitcoin is. For this and many other reasons, investors have chosen Bitcoin as top crypto on the market. Being the first cryptocurrency in existence, has obtained quite an advantage over its competitors.

I believe that Bitcoin's market dominance will always be higher than that of altcoins. Right now, things have stalled a little across the crypto market. But Bitcoin still is the winner with the biggest market cap on the crypto market. Within a couple of years from now, we could see Bitcoin reach a market dominance of 90% and above. After all, Bitcoin's market dominance was at its ATHs back in 2013. Time will tell us whenever Bitcoin will remain as the winner or another cryptocurrency manages to take its place on the market. Just my thoughts

[BitHodler]

Within a couple of years from now, we could see Bitcoin reach a market dominance of 90% and above.

I'm not so sure of that. I believe that the dominance metric is taken way out of context---people first claim it's useless when Bitcoin's dominance is low, then when it's going up they start celebrating and trash altcoins.

I know a lot of people want to see altcoins vanish from the market, but that's not going to happen, regardless of how little utility they bring to the table---utility people never cared about with how they only focus on massive pumps.

If you ask why people trade altcoins, in most cases they will tell you to increase their satoshi count. The way altcoins pump and dump makes it very lucrative for traders profit. All they need is a chart. Utility is meaningless.

[yurekaa]

bitcoin dominates the crypto market in my opinion because bitcoin is the first coin in crypto and is also the most expensive value. and most people enter the crypto market because of bitcoin. and the last two years the movement of altcoin is very weak and most altcoins cannot last long in the crypto market and also now many ICOs are scams. so this makes investors not interested in buying or investing in altcoin. they prefer bitcoin which has proven to be safe and has lasted long in the crypto market. but I am optimistic that when the movement of bitcoin is good then altcoin will also be back green. maybe this recovery will take a long time.

[Bitcoininvestment]

Over the past months, Bitcoin has been rising in market dominance at a fast pace. Altcoins have been on a constant decline in price ever since the bear market began back in 2018. They've been the ones which suffered the most, while Bitcoin has obtained greater prominence within the crypto market.

Which is why, it wonder me wonder why Bitcoin's market dominance have been rising so fast? What could be the cause of this? Will altcoins die soon, as a result of Bitcoin dominating the whole market? Or will they still survive?

So far, Bitcoin has gained the attention of people within the mainstream world, especially since it's one of the most limited cryptocurrencies in supply with an outstanding development team. The Lightning Network is its most interesting feature yet, leaving many wondering if it will render altcoins obsolete. If this indeed happens, then Bitcoin would effectively centralize the whole crypto market. What are your thoughts about this?

This past few years, many cryptocurrency come up in our world and because of that we gain some opportunities from this to earn some income.One of this many cryptocurrency is the bitcoin. Bitcoin is the most famous among them and with that, it is very dominant to the market because of no. of users used this coin.