Why is Bitcoin market dominance rising fast?

[Viscore]

Bitcoin has always been a leader, and mostly because it was created first. This is an advantage that no altcoin can overcome. And in fact, I do not know a single coin that would be better than bitcoin. And that's what most people think, as we can see.

This is the reason why bitcoin is gaining more dominance in the market  because its now giving signs of positive price development that will possibly lead into bull run in the next few months unlike altcoins that are making their prices declined and never shows any positive development. So people now are more into selling their altcoins just to buy bitcoin to invest and hold.

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[Rlyn]

if you observe it , it is because of the investors.

[Abiky]

Bitcoin has always been a leader, and mostly because it was created first. This is an advantage that no altcoin can overcome. And in fact, I do not know a single coin that would be better than bitcoin. And that's what most people think, as we can see.

That's certainly true, mate. Bitcoin has been trusted for a very long time, since it has been the world's first cryptocurrency with a proven track record of stability and security. When you compare other altcoins against Bitcoin, none can match its censorship-resistance and resiliency. I believe that the reason why market dominance has been rising so fast is because people became tired of most altcoins which made lots of promises without delivering real use cases for the mainstream world. Only a select few altcoins are extremely prominent with active development and innovation. Still, they're not comparable to Bitcoin because of many obvious reasons.

The more Bitcoin rises in dominance, the better it'll be as altcoins that are useless will fade into oblivion. Every day, altcoins decline in price at a faster rate than Bitcoin. Right now, Bitcoin has retained is value while most altcoins are even cheaper than they've used to be. In the end, we'll be dealing with an extremely limited number of altcoins on the market (like Ethereum, Cardano, EOS, and Litecoin) while Bitcoin remains as the "King of Crypto" for perpetuity.

Nonetheless, it's hoped that Bitcoin's market dominance will rise even further with the introduction of a stable version of the Lightning Network + Atomic Swaps. Only then, most altcoins will be rendered useless, greatly contributing towards the demand of Bitcoin for years to come. Just my thoughts

[tanchianjun]

What is a Cryptocurrency? Cryptocurrency Guide for beginners and learners, including Bitcoin guide.

https://cryptoguide.ch/main/main1.html

This guide says that bitcoin has very limited supply , plus after halvening comes, its going to get worse for new supplies. With its rarity,  it is already regarded as gold 2.0 by many. Given its popularity as the world's most famous coin, we shouldn't be surprise that it will have a good run in the market and probably dominate for a long time.

I am not worried at all that it will become centralized or it will kill the rest of the crypto market. There will always be a market for other cryptos and blockchains too , because for one reason, bitcoin cannot develop smart contracts and DApps.

[bryant.coleman]

It will eventually go back to the pre-2017 levels (i.e around 85%). Back in 2017, the ICOs took the altcoin market share from 15% to around 60%. Now this has been reduced to somewhere around 30% (including the Bitcoin forks and the stablecoins). Very few of the ICOs have been successful and even fewer have maintained the momentum over the years. So you can completely remove whatever jump the alts got from the ICOs.

My guess is that by the time the market cap reaches the ATH levels that we saw in December 2017 (i.e close to $1 trillion), the Bitcoin dominance will be somewhere around 85%. That means that Bitcoin itself will be having a market cap of $750 billion to $850 billion, resulting in an exchange rate of $40,000 to $50,000 per coin. We can expect this in the next 12 to 18 months.

[gunungkembar]

I think this is because bitcoin is the main coin of cryptocurrency and may also be the influence of the total supply while demand is very high so that it can affect the price of rising and falling bitcoin will be very fast.

[atjiat]

It is very interesting to watch who will be the leader in the cryptocurrency market, but Bitcoin today is a constant leader and dominant, especially considering the research data of authoritative analysts that the Bitcoin market dominance index is more than 60%.  The studies were conducted by analyzing the data among all cryptocurrencies on liquidity in the market and the decrease in the value of an asset during the mass sale of coins.

[Leo]

Lots of solid project out there are currently down in Satoshi value, the dollar value tend to increase only,  investors are kind of panicking thereby holding up bitcoin only, such situations increase the dominance of bitcoin

The dominance of bitcoin will keep on increasing, because there are lots of scam project that came out as at the last bull season which was just meant to get money from investors, 

Once such project dies off the team cash out in bitcoin, we all aware of certain amount of projects that had died off,  as such the dominance of altcoins tend to decrease while dominance of bitcoin increases

[elisabetheva]

actually bitcoin is currently very stable, when it goes down it doesn't go below $ 9K and will bounce back to around $ 13K. and the influence that occurs with bitcoin can ensure that it will affect all altcoins, especially with altcoin currently running ico. this indicates the dominance and superpower of bitcoin in crypto.

[Bitcoin Seller]

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/

One of the moments that had a great influence on Bitcoin dominance was its growth after the deepest fall of 2018. people simply understood that even the best tokens cannot ever compete with BTC. Now, the first cryptocurrency dominance is about 70% of the entire cryptocurrency market capitalization. However, in the future, it will begin to decline. Ultimately, BTC dominance will return to the range of 50-60%.

[cizatext]

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/

One of the moments that had a great influence on Bitcoin dominance was its growth after the deepest fall of 2018. people simply understood that even the best tokens cannot ever compete with BTC. Now, the first cryptocurrency dominance is about 70% of the entire cryptocurrency market capitalization. However, in the future, it will begin to decline. Ultimately, BTC dominance will return to the range of 50-60%.

Giving bitcoin dominance 70% is an understatement and at that left for me I will say bitcoin still hold 100% dominance on all other coins in the crypto market due to the fact that all altcoins depend on bitcoin to determined their price but bitcoin is standing alone as the part finder and the king of all crypto.

[LogitechMouse]

More investors are focusing on Bitcoins that they forget to invest in altcoins already. Because Bitcoin is very popular, they are only focusing on buying on it rather than investing it on other altcoins and as a result it leads to increase in market dominance. Altcoins are dying slowly. Low liquidity on exchanges and a lot of them doesn't have any updates on their development. Only the strong altcoins will survive in this harsh market.

[Bob Smith]

The real question here should be, why shouldn't bitcoin dominance be increasing when the so called altcoins don't have what it takes to give bitcoin a fight for it's dominance. 99% of the current Altcoins whether in IEO/ICO, already trading or in development stages doesn't have anything new to offer to the industry. They're just false hope gaining attention based on hype. Bitcoin is a working product with years of experience (10 to be precised). What then do you expect. The community is putting their trust and money in the right place that's why the dominance is increasing fast.

Agreed, that's really nicely put!

[dreamax25]

Bitcoin got picked as the #1 top coin to watch for this week, read more why:

https://coincodex.com/article/5019/top-3-coins-to-watch-september-9-september-15-2019/

[nienzer]

The main cause of growth is prevalence. Bitcoin was the first cryptocurrency, many bought bitcoins around the world. Because of this, it turned out that Bitcoin controls the market and sets a price, while few people use altcoins in comparison with Bitcoin, because of this, the price of many altcoins only falls.

[tungaqhd]

More investors are focusing on Bitcoins that they forget to invest in altcoins already. Because Bitcoin is very popular, they are only focusing on buying on it rather than investing it on other altcoins and as a result it leads to increase in market dominance. Altcoins are dying slowly. Low liquidity on exchanges and a lot of them doesn't have any updates on their development. Only the strong altcoins will survive in this harsh market.

They did not forget to invest in altcoin but when investing in altcoin, they realized that the liquidity was really too poor, altcoin market lacked too many investors when whales continuously created panic selling, most of the whales' movements only work in relation to bitcoin, whales pump, whales create a trend for bitcoin to go up. For investors like us, what we do can only follow the trend, fighting whales is not a good idea when they have too much money to play with us, and gradually a fixed trend was built, establishing dominance

[Nellayar]

Due to the numerous people who are supporting bitcoin, we cannot deny the fact that it easily grows up. Another thing is the scarce supply of bitcoin help it also to grow faster. There are many times that bitcoin crashed down but it always goes up because it is volatile. That is why I can say that bitcoin is king of cryptocurrency, many people specially whales are buying it.

[Abiky]

It will eventually go back to the pre-2017 levels (i.e around 85%). Back in 2017, the ICOs took the altcoin market share from 15% to around 60%. Now this has been reduced to somewhere around 30% (including the Bitcoin forks and the stablecoins). Very few of the ICOs have been successful and even fewer have maintained the momentum over the years. So you can completely remove whatever jump the alts got from the ICOs.

My guess is that by the time the market cap reaches the ATH levels that we saw in December 2017 (i.e close to $1 trillion), the Bitcoin dominance will be somewhere around 85%. That means that Bitcoin itself will be having a market cap of $750 billion to $850 billion, resulting in an exchange rate of $40,000 to $50,000 per coin. We can expect this in the next 12 to 18 months.

That's certainly true, mate. The biggest rise of altcoins was largely attributed to ICOs themselves. Ethereum was one of the altcoins on the market which benefited the most from ICO gains. It seems that 2017 was the golden year of ICOs bringing a wealth of investors like never before. By that time, Bitcoin's market dominance was pretty low compared to previous years. Once the SEC decided to crackdown on ICOs, things have changed drastically for the crypto industry. Now, the ICO trend is a thing of the past greatly diminishing the market dominance of popular alts like Ethereum and Litecoin. It's good to see Bitcoin gain traction once more, since it's the original cryptocurrency that started it all.

Before the crypto craze, Bitcoin's dominance was well above 80%. We're starting to see the same situation repeating itself where Bitcoin is rising back towards its original levels in market dominance. Sooner or later, Bitcoin will gain 90% through 95% of the whole market share leaving other altcoins in the dust. I guess that people are realizing that most altcoins don't have real use cases, selling them in exchange for BTC. In the future, we may be left with a few altcoins while Bitcoin remains as the world's largest cryptocurrency by market cap.

Nonetheless, I wouldn't worry too much about Bitcoin's market dominance rising fast. After all, Bitcoin is the reserve currency of crypto where many altcoins depend on it to succeed. It's impressive to see how far Bitcoin has reached since its inception back in 2009. Hopefully, it'll gain massive adoption within the mainstream world as it improves its blockchain network to handle millions of TPS. Just my thoughts

[TimeTeller]

The community of cryptocurrency is increasing day after day. That is the exact reason why the dominance is increasing. People are learning about crypto and have realized its a good investment.

Not only a good investment but has benefits in various aspects.
Like remittance purposes, the transaction fees are lower than the traditional method and definitely faster.
Aside from that, businesses are discovering the impact of blockchain technology within their operations, saving them huge amount of money.
And in this regard, the bitcoin adoption is directly influenced by the expanding usage of crypto and blockchain technology as it is the major coin involved in this whole system.

[rodel caling]

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?

Is that a normal do not compare bitcoin into altcoins because there a lot pf altcoins become zero value due to not supported of the community, tha is own opinion that's why some altcoins are going dump.
But if look at coun market the top list altcoins are still have possiblity to increase their price if bitcoin continue to increase hit the another ATH. Nothing and nothing to wonder why bitcoin is dominat in the market because people are strongly support bitcoin.