Why is Bitcoin market dominance rising fast?

[pragna]

I think it is a very good sign that BTC market Dominance so fast. In 2017 when BTC market dominance another alt market also go up fast. So, though in recent time market is very much imbalanced but i think for time being it will go its previous position so that all altcoin also grow up. So be patience and wait for batter days.

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[todiboa]

In addition to traders and investors, Bitcoin has become interested in the Dark Net. With the help of Bitcoin, it was possible to launder money and just make transactions, it created a large coin flow one and it made Bitcoin very prevalent

[Karlinz]

It appears a lot of investors are beginning to lose interest in altcoins and moving to a less risky and more reliable cryptocurrency being bitcoin. This is evident in the continuous dwindling of the price of etherium being the leader of altcoins against bitcoin. A lot of persons have believed in altcoins and a lot that promised being a replacement to bitcoin but never achieved it and making a lot of persons invest in the for long term but they were a gross disappointment.

[nightxglow]

Maybe that's because of the fact that many people lost interest in cryptocurrency already because the price dropped quite drastically than last year, but there are also still many people that believes in the prediction that bitcoin will become big again in the future, reaching $20k or even $100k. So many people choose to stay with bitcoin, which is the most valuable one rather than the altcoins. Many people sold their altcoins because they don't think they worth anymore. And i think it's just normal considering bitcoin price is more stable, i mean it's safer to be used as investment rather than altcoin that's not really safe and many of them had died already.

[BrewMaster]

If Bitcoin achieves 80% market dominance, then I am afraid that a lot many of the altcoins will simply die out. I don't think that so many coins can survive on so little market share.

no, it would not make any difference at all.
just the same way when this percentage fell down to 40% it didn't change a thing. to put simply, nobody who matters (that is traders) cares about this number. it is just too meaningless. the only thing that this is used for is in news sites and altcoin advertisers.
other than that, the altcoins will continue their death while getting some pumps from time to time that revives them for a small amount of time.

[bryant.coleman]

If Bitcoin achieves 80% market dominance, then I am afraid that a lot many of the altcoins will simply die out. I don't think that so many coins can survive on so little market share.

no, it would not make any difference at all.
just the same way when this percentage fell down to 40% it didn't change a thing. to put simply, nobody who matters (that is traders) cares about this number. it is just too meaningless. the only thing that this is used for is in news sites and altcoin advertisers.
other than that, the altcoins will continue their death while getting some pumps from time to time that revives them for a small amount of time.

Perhaps I wasn't clear enough. I was talking about a scenario where the total cryptocurrency market capitalization remains more or less constant and the Bitcoin dominance continuously increases. Right now, the total market cap is around $270 billion and I am assuming it to remain the same. As the altcoin market share goes down, their combined valuation will go from $80 billion plus, to much lower figures.

The reason why I said that the combined market cap is going remain at the current level for sometime is that the bull run is showing signs of fatigue. And before the next block reward halving (which is almost an year away), I don't see any major triggers in the cryptocurrency market which can take Bitcoin and the other cryptos to another bull rally.

[Finestream]

Many investors have heard of Bitcoin halving coming in next year and they want to take the opportunity to have their possession. They are waiting with their portfolios against the halving, also, many are still buying Bitcoin to maximize profit when the price surge, so, almost every one is thinking about Bitcoin and Bitcoin.

Obviously they do, and in fact that's the main reason why altcoins has not grown yet since the money are not concentrated in bitcoin.

With the rising of dominant, it does not bring overall positive result in the market, as it's killing the altcoins where they also bring investors in the market when they are healthy, it's been the trend in the 2nd half of the year so far and we like to see some changes on that, and hopefully the last quarter will make it possible, this market based on my observation is better if BTC will drop its dominance below 50% as it allows altcoins to breath.

[bitcoinposts]

Bitcoin market dominance is raising fast the most important consideration market is atracting positive news for bitcoin growth if btc price is 12000 dollars and btc dominance is around 60 percent we can expect strong btc price pump

[ethereumhunter]

Bitcoin market dominance is raising fast the most important consideration market is atracting positive news for bitcoin growth if btc price is 12000 dollars and btc dominance is around 60 percent we can expect strong btc price pump

But before we see the bitcoin price increase, we will see another correction at the market because now, the candle is red again, so we need to be ready to buy more bitcoin. We could hope after this correction, the price can break the higher price so then the price can increase to $12k as you want, but if the price cannot increase tomorrow, then we will see the red candle will stay at the market.

[Red-Apple]

Bitcoin market dominance is raising fast the most important consideration market is atracting positive news for bitcoin growth if btc price is 12000 dollars and btc dominance is around 60 percent we can expect strong btc price pump

But before we see the bitcoin price increase, we will see another correction at the market because now, the candle is red again, so we need to be ready to buy more bitcoin. We could hope after this correction, the price can break the higher price so then the price can increase to $12k as you want, but if the price cannot increase tomorrow, then we will see the red candle will stay at the market.

we have already seen the "correction" at the market when price started coming back down from its rise to $13000 and even went as low as entering the $9k realm momentarily.
there is no "need" for any more corrections anymore. right now all we need is the start of the rise itself. which like always takes some preparation time.

[dimastegar]

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?

From my point of view, rising prices and increasing the amount of Bitcoin that has been mined are the main factors in market dominance. And the weakening factor of Altcoins is because most people sell their Alcoins for Bitcoin. Apart from that, Altcoins only have a few places even though they have a large number.

[michellee]

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?

From my point of view, rising prices and increasing the amount of Bitcoin that has been mined are the main factors in market dominance. And the weakening factor of Altcoins is because most people sell their Alcoins for Bitcoin. Apart from that, Altcoins only have a few places even though they have a large number.

Although dominance does not make the bitcoin price increase, I think soon we will see the price start rising again. And now, the price has begun to increase, although not too fast and too high. I am sure that the price will reach the higher price for bitcoin and altcoin together and that will make bull run will come soon. Maybe there will be a selection for the altcoin, the stronger altcoin will survive, and the weak altcoin will disappear without a chance to rise back.

[Abiky]

Many investors have heard of Bitcoin halving coming in next year and they want to take the opportunity to have their possession. They are waiting with their portfolios against the halving, also, many are still buying Bitcoin to maximize profit when the price surge, so, almost every one is thinking about Bitcoin and Bitcoin.

The way I see it, is that every halving event triggers an upsurge in price or market dominance for Bitcoin. This is not surprising, considering that Bitcoin has the most adoption within the mainstream world. In some ways, it's good for Bitcoin to continue to rise in market dominance as it makes other altcoins more attractive towards investors. Early Bitcoin investors will have greater spending power to buy as much altcoins as they can to obtain massive profits within the next bull market. For once, Bitcoin's dominance was around 95% of the entire crypto market. Rising again towards that percentage will prove to be beneficial for the whole ecosystem, in my own opinion.

Still though, Bitcoin and other cryptocurrencies are known to be extremely volatile over time. What matters is not the price per coin or market cap, but rather how useful it is within the mainstream world. So far, Bitcoin is the most useful cryptocurrency in the world, but there are other altcoins that follow. As altcoins fall, Bitcoin rises towards new heights. The same thing could happen vice versa. In a highly speculative market, no one can determine with precision what Bitcoin's market dominance or value will be within the future. But one thing for sure, is that the pioneer cryptocurrency will remain in its rightful position for many years to come. Just my opinion

[manok jepang]

The market as a whole shows the maximumism of Bitcoin might be the healthiest strategy for investors, and until altcoin agrees and finally puts it low, while Bitcoin is much more discussed among investors, especially investors who support. Meanwhile, the rally has caused Bitcoin dominance to surge, and if it continues to increase in such a way, according to a crypto analyst, BTC can reach that extent and succeed to market dominance by as much as 80%.

[SirLancelot]

In addition to traders and investors, Bitcoin has become interested in the Dark Net. With the help of Bitcoin, it was possible to launder money and just make transactions, it created a large coin flow one and it made Bitcoin very prevalent

I would not even encourage that aspect of dark net because if you say it has increased the market, it will only increase it temporarily because I can tell you that there is no laundered money that would stay in the market more than 24hrs, because the might only use the system to pass the money to the other part of the country which the moment it is being received, it would be processed to immediately be transferred to banks, and these type of activities usually make the market unstable and cause u type of activities usually make the market unstable and cause unnecessary FOMO.

Many people may even lose their money in the process because imagine they launder 3 billion dollars with it today, and then value increases and many people confused it for bull run, meanwhile those other party had already made provision to remove it the next day, so they will be the one to get profit and then dump the 3 billion dollars the next day crashing the market so hard.

[CryptoRobert]

I've just published a nice graph of Bitcoin dominance hitting the MA-200 these days. WHich means the moment of truth has arrived.

https://www.tradingview.com/chart/BTC.D/gxktHRme-BTC-dominance-hits-MA-200-Altseason-at-stake-here/

[BitHodler]

I've just published a nice graph of Bitcoin dominance hitting the MA-200 these days. WHich means the moment of truth has arrived.

https://www.tradingview.com/chart/BTC.D/gxktHRme-BTC-dominance-hits-MA-200-Altseason-at-stake-here/

Thanks for bringing this up. As we speak we have have closed a weekly candle above the 200MA and as long as we don't see a sudden change in Bitcoin dominance, we'll get two consecutive closes above the 200MA.

I am however not sure how much impact it will actually have since it hasn't been an average we have contacted before, either to provide support or resistance. Time will tell but the altcoin dominance chart looks quite ugly.

Altcoins lost the longer term ascending trendline that supported their dominance and it will take a miracle altcoin pump that lasts months in order to get 2 or 3 consecutive weekly closes above it.

[darklus123]

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This is the main reason why no one should be having so much faith with their altcoin holdings especially if this coins does not prove something yet. Putting a very huge amount is just a complete wasted gamble.

Bitcoin market is I think the only crypto that dominates the market.Why? cause bitcoin don't die it multiplies (eg, .01 that has a value of $102 from one user and was sent to 3 users then were divided into 4, now we have four users that has .0025/each but since the market is still dominating the price might still remain at $102 for each of the 4 users.)

[jostorres]

The market as a whole shows the maximumism of Bitcoin might be the healthiest strategy for investors, and until altcoin agrees and finally puts it low, while Bitcoin is much more discussed among investors, especially investors who support. Meanwhile, the rally has caused Bitcoin dominance to surge, and if it continues to increase in such a way, according to a crypto analyst, BTC can reach that extent and succeed to market dominance by as much as 80%.

Well, bitcoin is almost attaining that dominance stage, and altcoins are still all lagging behind and investors are much more interested in coins that are with real use case which some altcoins lacks. Altcoins would have been a better alternative actually to bitcoin because of its scalability but most altcoins that I see proffering solution to this are also not much better than bitcoin.

Most investors have seen that the altcoins that we have in the market now are really concerned about the store of value of their coin and how much money people can put in for investment which has diverted majority of why altcoins really exist, so only bitcoin still works in this line and reason for its continuous dominance till date. If altcoins wants to regain their dominance, they need to focus on their real use case.

[nankers]

Perhaps the simplest reason why the Bitcoin market dominance rising fast is because bitcoin is  first and original cryptocurrency in the world's. But in my opinion maybe because all altcoins use bitcoin as the price value. so, when the price of bitcoin rises, this automatically encourages altcoin holders to exchange the altcoin they have for bitcoin which has a greater value and this situation makes bitcoin market always dominance in every market. But its just only my opinion, maybe the fact is not like that