Why is Bitcoin market dominance rising fast?

[Jorge158]

Bitcoin dominance is now around 70% of the total market and this is a clear indication that Bitcoin awareness creation is yielding results. Now, Bitcoin has been the main topic of discussion whenever cryptocurrency is been looked at by any organization or government. The community of Bitcoin will continue to grow as cryptocurrency gain more awareness.

[Abiky]

Bitcoin dominance is now around 70% of the total market and this is a clear indication that Bitcoin awareness creation is yielding results. Now, Bitcoin has been the main topic of discussion whenever cryptocurrency is been looked at by any organization or government. The community of Bitcoin will continue to grow as cryptocurrency gain more awareness.

It's no secret that Bitcoin is the world's most popular cryptocurrency. Everyone who's joined crypto land, have heard of Bitcoin one way or another. Given that it's been the first cryptocurrency ever created, it has gathered a large amount of people worldwide that trust it. After all, Bitcoin is the most secure cryptocurrency today. Because of this, we're seeing people buying Bitcoin at a greater level than altcoins. If the trend continues, then there's a possibility that Bitcoin would reach over 90% of dominance across the whole crypto market. No matter how superior other altcoins are in terms of features and technology, they can't seen to gain massive mainstream adoption like Bitcoin.

The only cryptocurrency which seems to be closer to Bitcoin in terms of market dominance is Ethereum. But even Ethereum has struggled to gain the level of popularity Bitcoin has, because it's not as old as the pioneer cryptocurrency. The more Bitcoin's price goes up over time, while altcoins are on a constant decline, the greater the market dominance of Bitcoin will be. There's no other way around it. Hopefully, by the next bull market, altcoins would rise once more in order to "balance" Bitcoin's dominance across the market. I believe that a market dominance of 50% for Bitcoin seems more fair than 90%, in my own opinion.

Nonetheless, time will tell us whenever Bitcoin will keep up dominating the whole crypto market, or a new contender takes its place. As of now, no other altcoin has proven to be as prominent as Bitcoin is, but anything could happen in the unpredictable world of crypto. Just my opinion

[Vishnu.Reang]

A sharp bull run has started now and many of the altcoins have gone up by 5% to 10% against Bitcoin. Ethereum has once again breached the 0.020 BTC level, after reaching a low of 0.016 BTC a few days back. I am not sure about the reason behind this sudden jump, but it looks like this time the altcoin spike is going to stay. Even coins such as TRX and XMR are going up after the recent bloodbaths.

[Bitcoin Seller]

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.

They say Bitcoin dominance is at least 20% higher in reality. A number of participants in the cryptocurrency industry believe that it is necessary to indicate the “real” share of bitcoin. This indicator is 90-95% and is obtained due to the exclusion from the calculation of stable coins and altcoins with low liquidity. This is explained by the fact that stablecoins are not real cryptocurrencies.

[Abiky]

Perhaps the bitcoin maximalist/whales are doing this to ensure a huge bullrun is going to happen. Another factor is that it could be the result of the ICOs and altcoins are not giving gains anymore some of the big holders sold it to buy more bitcoin. Because if I am also a whale like them, my best bet would still be bitcoin. It would still be much safer putting all my money on it than in several altcoins waiting for many ages for them to moon.

Good point. It makes sense to put all of your money into Bitcoin, being the most widely successful cryptocurrency in the mainstream world. After all, altcoin's rise was largely attributed towards the success of ICOs. Now that this trend is a thing of the past, demand for altcoins have seriously declined since 2018. Despite this, there's still hope for altcoins with the legalization of IEOs and STOs. If successful, they could experience a massive boost in price, greatly diminishing Bitcoin's market share.

As of now, Bitcoin's market dominance sits between the range of 69% to 70%. It could rise even further if it continues to increase in price as other altcoins hit the very bottom. But this shouldn't matter since most altcoins largely depend on Bitcoin to succeed (since it's the reserve cryptocurrency of the market after all). What we need to pay attention to, is the development progress of the Bitcoin blockchain. With the introduction of the Lightning Network and several other features, Bitcoin's market dominance would increase to new ATHs as we know it. Just my opinion

[bryant.coleman]

The dominance fell by 4% during the last two weeks, from 71% to 67%. Many of the altcoins have bounced back to important support levels (ETH - BTC0.0215, XRP - 2,900 Sat, Litecoin - BTC0.0074). There is obviously a sharp increase in the demand for altcoins. But I am not sure whether the trends will stabilize or not, because the IEO/ICO market is still looking very weak.

For the past 3 months, the Bitcoin prices have remained stable at $10K level. As things stand, there are not much chances of a breakout during the next few months. Perhaps for the next phase of the bull run, we may need to wait until the block reward halving in 2020 (which is another 8 months away). If profit booking occurs before that, the we can expect BTC to go back to 4-figures and the dominance to decline.

[Leonardo7]

People have realized that the only coin that has the power and the will to stage a big comeback after a huge slump is the bitcoin. Some traders have loss in many altcoins in a bid trying to hit it big in altcoin and plan growing their bitcoin, they realize they just lose it all, what is left to stay safe in cryptocurrency for most people is by investing in bitcoin.

[Abiky]

The dominance fell by 4% during the last two weeks, from 71% to 67%. Many of the altcoins have bounced back to important support levels (ETH - BTC0.0215, XRP - 2,900 Sat, Litecoin - BTC0.0074). There is obviously a sharp increase in the demand for altcoins. But I am not sure whether the trends will stabilize or not, because the IEO/ICO market is still looking very weak.

For the past 3 months, the Bitcoin prices have remained stable at $10K level. As things stand, there are not much chances of a breakout during the next few months. Perhaps for the next phase of the bull run, we may need to wait until the block reward halving in 2020 (which is another 8 months away). If profit booking occurs before that, the we can expect BTC to go back to 4-figures and the dominance to decline.

There are still some wild fluctuations in price across the crypto market. With this, Bitcoin's market dominance could rise or decline a little over time. But be aware, that Bitcoin's dominance will always be higher than that of altcoins because of many obvious reasons. After all, Bitcoin is the most trusted and secure cryptocurrency worldwide. It's the first cryptocurrency it comes to mind, when joining the world of crypto. Bitcoin may be not be as efficient as other altcoins are, but it has branding recognition, and most of all, censorship-resistance like no other. Those attributes will allow Bitcoin to remain as "King of Crypto" for a very long time.

Given how prominent Bitcoin has been lately, I wouldn't be surprised if it reaches a market dominance of 99% in the future. Only then, altcoins will control 1% of the market as they become highly unattractive among people in the mainstream world. After all, most altcoins lack true usability based only on hype and speculation. The 1% of market dominance will be largely attributed to big alts like Ethereum and Litecoin. The rest will be non-existent as we know it.

Nonetheless, with so many exciting features coming along for Bitcoin, I don't see why market dominance will decline in the future. On the contrary, it'll continue to rise slowly but surely as people become more interested into the pioneer cryptocurrency. Time will tell us what Bitcoin's fate will be for sure. But it seems that Bitcoin will remain in its rightful place in the market for years to come. Just my opinion

[Sanitough]

People have realized that the only coin that has the power and the will to stage a big comeback after a huge slump is the bitcoin. Some traders have loss in many altcoins in a bid trying to hit it big in altcoin and plan growing their bitcoin, they realize they just lose it all, what is left to stay safe in cryptocurrency for most people is by investing in bitcoin.

They never loss if they are investing in solid altcoins which has a great potential in the future.
The thing is, bitcoin is recovering but altcoins is still bearish, so people think altcoins will die soon, it will not gonna happen as the future of crypto is bright.

They maybe very cheap now but we know how unpredictable this market is, let's always follow the strategy of the smart investors, when everyone is worried, then it's good to buy  because we will be able to get a cheap price but expect that even if you bought higher and you still hold, you'll be able to sell it soon with a profit.

[Capt00]

People know it, what exactly they believe had come into reality which everyone who invested this coin seems to be profitable. Why Bitcoin sustain its market dominance? Because Bitcoin has capable of, and very influencing in the market. Has people rely to Bitcoin rather to choose among altcoins.

It is our call of what coin to choose but Bitcoin look attractive that's why investors are giving trust with, then it gradually increase the demand so fast.

[bitcoinposts]

When bitcoin price drops bitcoin dominance decreases when bitcoin price increases dominance become strong most of the alt coins are btc dependence

[conected]

People know it, what exactly they believe had come into reality which everyone who invested this coin seems to be profitable. Why Bitcoin sustain its market dominance? Because Bitcoin has capable of, and very influencing in the market. Has people rely to Bitcoin rather to choose among altcoins.

It is our call of what coin to choose but Bitcoin look attractive that's why investors are giving trust with, then it gradually increase the demand so fast.

- Bitcoin always creates an investment zone so safe for everyone, almost everyone knows the history and the numbers it brings, super profitable and super safe, regardless of how it declines, it can still become, fast or slow, depending on the level of collapse, in addition to a bit of manipulation, the dominance of bitcoin always increases very fast when bitcoin pumps work. But we can see a balance here, the pump is working on schedule, dominance needs to drop, create conditions for altcoins to operate

[Dread Pirate Roberts]

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?

Bitcoin does have a fluctuative price and the exact reason that causes the price increase is uncertain and many assumptions of each person. some say it's a big holder game. some say it's pure market demand. but certainly bitcoin easy rising easy falling. thats why some people aren't really into bitcoin trading.

[liuqi]

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?

Bitcoin does have a fluctuative price and the exact reason that causes the price increase is uncertain and many assumptions of each person. some say it's a big holder game. some say it's pure market demand. but certainly bitcoin easy rising easy falling. thats why some people aren't really into bitcoin trading.

It is called volatile nature and the market will be fluctuative and that is called crypto market. if you want to stay in the crypto industry we need to under that how the market moves and need to predict the value and fix your trade market at the right time.

We need to choose the invest on the right coin like top listed cryptocurrencies to make the money perfectly.

[adeandro]

Obviously because of the investment. The more investments, the faster cryptocurrency or any other product will grow

[Digitalbitcoin]

There are many reasons for the rising of Bitcoin dominance fast

Major users are still not aware of altcoins especially new launched. And who are willing to invest in specific altcoins must have to buy Bitcoin first to make an investment.

The second important thing is more security and higher demand. Limited supply and distribution along with circulation.

The third one is more usable applications and implementation of BTC as media of exchange.

The fourth thing is the price of Bitcoin against fiat globally.

The fifth one is more transparency and security within the network.

And most important bitcoin has gained lots of trust and value for exchange.

[Abiky]

It is called volatile nature and the market will be fluctuative and that is called crypto market. if you want to stay in the crypto industry we need to under that how the market moves and need to predict the value and fix your trade market at the right time.

We need to choose the invest on the right coin like top listed cryptocurrencies to make the money perfectly.

Exactly. The volatile nature of cryptocurrency could either reflect higher or lower prices within an instant. It's normal to see Bitcoin with an extremely high market dominance, since it's the first cryptocurrency which started this craze. Altcoins will never outpace Bitcoin in the long run, as they lack the established branding and mainstream recognition Bitcoin has. Because of this, I believe that Bitcoin's market dominance will always be high no matter what. As more altcoins decline in price, Bitcoin's dominance will increase in a flash. With upcoming upgrades for the BTC blockchain, it's hoped that demand will increase like never before leading the pioneer cryptocurrency towards new ATHs in price and market cap.

By choosing the right coin (mostly Bitcoin), you'll be able to preserve your investment for a long time. Since Bitcoin is well-known to be a store of value that's censorship-resistant, it could gain the attention of institutional investors within the not-so-distant future. Given how the market has reacted lately, there's a high possibility that Bitcoin will increase towards a market dominance of over 85% soon. If you're an early adopter of the cryptocurrency, you'll benefit greatly from Bitcoin in the long run as you'll have greater spending power like never before.

Nonetheless, market dominance for Bitcoin is rising at a fast pace probably because most altcoins are becoming cheaper each day. The moment altcoins start rising, you could expect for BTC's dominance to stale or remain lower than it was some time ago. What matters is that Bitcoin will always be the #1 cryptocurrency no matter what its price will be in the future. Doing a smart decision by holding Bitcoin no matter what, will keep you safe in the long run. Just my opinion

[CODE200]

2017 was just a bullish pace of bitcoin, this year is the real thing because many countries are started to adopting bitcoin, because they see the potential of the bitcoin that fiat money or banks can't give. Bitcoin give us decentralization the anonymity. and many people are investing into Bitcoin so I thin that is the reason why bitcoin is gaining price again. I think before the year ends, the bitcoin will hit 20k$.

[CODE200]

I give a little explanation to explain why Bitcoin dominates the crypto market.
Everytime Bitcoin prices go up, altcoin will go down. Because it takes time to adjust to the value of Bitcoin. And some traders also sell their Altcoins to take advantage of the price of Bitcoin, and set aside some of their altcoins just in case. The biggest factor why Bitcoin dominates the market is because more pairs of Altcoin to Bitcoin than other pairs to Altcoin.

I agree, because we know that Bitcoin and other altcoins are very flexible. My reason why Bitcoin dominating the crypto market is because Bitcoin has a huge amount of price unlike the altcoins it is way too far from the price of the Bitcoin.

[Ris88]

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 ...