Impact of Bitcoin growing Dominance on the Crypto space

[bitcoinposts]

with bitcoin strong dominance we can see most of the altcoins are suffered major downtrend in the market once btc stabilizes at certain price then we can expect altcoins will bounce back to previous prices

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[dimastegar]

This Bitcoin dominance will continue. No matter the price of Altcoin goes up, Bitcoin will continue to dominate the Market. And from my point of view, the dominance of Bitcoin continues to increase as the price of BTC rises and traders move from their Altcoin to BTC.

[OnceTwiceThird]

Bitcoin is growing but have bad effect for altcoin look still on lower price, waiting more than three months but altcoin keep down and never trying for raised to higher price.

[Herbert2020]

the only impact that this can have is that it can help some of the newcomers who started in 2017 and were misguided into thinking shitcoins they are holding have a future to stop bag holding and start seeing the only real cryptocurrency that exists and has a good future.
it is also a process that keeps on repeating every couple of years. first a ton of new shitcoins are created bloating the total market cap and fooling a lot of newbies then they start getting dumped and popping the total market cap bubble and all those newbies who lose money either go away or start only holding bitcoin.

[RealMalatesta]

with bitcoin strong dominance we can see most of the altcoins are suffered major downtrend in the market once btc stabilizes at certain price then we can expect altcoins will bounce back to previous prices

Initially, many of u have this believe that once bitcoin start to grow or starts its own  bull run, altcoins will start increasing too, but we have seen that reverse is the case. Altcoins live independently, and they are responsible for their own market separately.

I usually don't like attaching any growth of altcoins to bitcoin, because they all came up with different use case, and since they have different use case, they should have their own separate factor that will always see to it that they continue to grow in price. Doesn’t be surprise that bitcoin will stabilize and altcoins will still not move because I still don’t see the correlation. We all know that for any coin to grow, there must be full adoption, and this is what altcoins need to fight for and not bitcoin dominance.

[CODE200]

Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.

Bitcoin is not really dominating the whole crypto currency world because there are still coins which people choose and not just the bitcoin itself. I think its being top 1 in crypto didn't give any pressure on the other altcoins.

[Lalafell]

Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.

Without the doubt, the dominance of bitcoin in virtual world is still bulking, on this situation some altcoins are being overshadowed or being downtrend and maybe uptrend, so we can conclude that bitcoin has a big impact to the economic growth of the blockchain or in the cryptomarket. Bitcoin than other altcoin is much trusted on a way of investing, since bitcoin is being known worldwide.

[Shenzou]

Most of the people look to cryptocurrency as a type of investment and not as an asset, they only care about profiting from it on the short term and that is reflected by the dominance of the bitcoin over the market due to it high value and increasing rates so when people look at the price of bitcoin and other crypto they are immediately drawn to bitcoin because they can get more value from it , and that comes directly from bitcoin being the first crypto that people invested in and supported and altcoins flowing it after a while, this dominance is always going to be the case and won't change as long as bitcoin is still active the only way this could change if the support for other coins starts growing which is very hard to do because they don't offer a whole lot of difference to what bitcoin does better

[Rufsilf]

It has a positive and negative impact on the market.

Negative effect
* it makes altcoins become undervalued and it causes more altcoins to be totally dead as investors are usually get attracted into Bitcoin alone.

Positive impact
*More investors and user keep coming as it helps to promote crypto
*increase in market demand and to move the market price of Bitcoin

[DeadCoin]

It has a positive and negative impact on the market.

Negative effect
* it makes altcoins become undervalued and it causes more altcoins to be totally dead as investors are usually get attracted into Bitcoin alone.

Positive impact
*More investors and user keep coming as it helps to promote crypto
*increase in market demand and to move the market price of Bitcoin

Though few alts are affected by BTC dominance, few alts do not fall into it. I can name few coins like, ERD, COS, Matic are have stood still not loosing their values when the btc value went down. They are based on their projects and services which shows the values of coins are based on the service and project they do in the market. However, we have to wait and see that how long these coins are keeping themselves standard to what they are now.

[Rufsilf]

It has a positive and negative impact on the market.

Negative effect
* it makes altcoins become undervalued and it causes more altcoins to be totally dead as investors are usually get attracted into Bitcoin alone.

Positive impact
*More investors and user keep coming as it helps to promote crypto
*increase in market demand and to move the market price of Bitcoin

Though few alts are affected by BTC dominance, few alts do not fall into it. I can name few coins like, ERD, COS, Matic are have stood still not loosing their values when the btc value went down. They are based on their projects and services which shows the values of coins are based on the service and project they do in the market. However, we have to wait and see that how long these coins are keeping themselves standard to what they are now.

That is what we'd likely to see them. If they'll have a good market plan and sustainable growth it surely we could see these coins keep in moving.

Actually, I'm not really familiar to those coins but it is good thing that they will be able to sustain and fight for the market crisis. I know there are some altcoins could make it.

[Kyraishi]

Firstly, not sure why you'd revive a 1-month dead thread to post a pretty useless statement, but I'll respond.

Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.

Bitcoin is not really dominating the whole crypto currency world because there are still coins which people choose and not just the bitcoin itself. I think its being top 1 in crypto didn't give any pressure on the other altcoins.

Bitcoin dominance is at an all-time low right now and saying it doesn't affect the price movements of other altcoins is just stupid. Look at the recent 2 market crashes, as well as the one last year where BTC dropped from 20k to 8k, and all the altcoins followed suit as well.

It is definitely dominating the entire market, and the price of BTC definitely makes the other coins follow suit.

[timerland]

It has a positive and negative impact on the market.

Negative effect
* it makes altcoins become undervalued and it causes more altcoins to be totally dead as investors are usually get attracted into Bitcoin alone.

Positive impact
*More investors and user keep coming as it helps to promote crypto
*increase in market demand and to move the market price of Bitcoin

Depends - having a big amount of bitcoin dominance in the market isn't bad, or good really. It means that the altcoins will 100 percent follow the movements of BTC, and they aren't really undervalued - just that they don't really have control over themselves due to the dominance.

I'd also prefer more BTC dominance in the market - I think the recent changes to the market are pretty good, and I think the biggest problem we need to get over right now would be BTC adoption - more countries need to get in here.

[Wexnident]

Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.

You've already stated the fact of bitcoin dominating the crypto space. It was its pioneer. Almost if not all price of coins are affected whenever bitcoin price increases or decreases and that's why the bitcoin market is the one that is always watched by the people since it pretty much dictates how some coins rise and fall. Of course, this makes it very difficult for some coins to survive since the meaning of altcoins was to fight off bitcoin at its throne and try to surpass it. Observing the current course of events from the past few years, none had been able to shake the foundation of btc at the market and I would really doubt there would be one in the near future.

[Coyster]

Of course, this makes it very difficult for some coins to survive since the meaning of altcoins was to fight off bitcoin at its throne and try to surpass it

I disagree with that, altcoins is not in circulation to fight bitcoin or for one of it to try and be the number one cryptocurrency, alt-means alternative, and that's something used when the other closely related item or whatever is not available.
Altcoins are there for those who wouldn't be able to get bitcoins to purchase them, though rather than purchase altcoins, I'll rather buy bitcoins with the exact value of that money.

[MetalGear]

The higher the dominance of BTC the more the chance for it to have the power to control crypto space in terms of having all the investors prefer it more than other cryptocurrencies. On the other hand, the more the dominance of BTC rise, the lesser the chance of altcoin to pump most especially if BTC's market cap has 68% dominance in the crypto space.
    Another thing is, whenever the BTC has a bullish run, altcoin's price might follow but can't outgrow the price of bitcoin. BTC's dominance also has made investors have the perception of preferring BTC over other cryptocurrencies. It will be hard for other cryptocurrencies like altcoin and ETh to outgrow BTC because the latter has been known for a long time in crypto space and even had the dominance up to 100% before the birth of othe cryptocurrencies.

[Dread Pirate Roberts]

Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...

Mostly all altcoins must be the benchmark price of bitcoin. obviously bitcoin will greatly affect the entire crypto market and other coins. and the dominance of bitcoin is certain because of these factors. but often everything has its time. when bitcoin starts at stable prices. altcoin often becomes the dominant in the market. along with bitcoin itself. it always like that.

[Kizaki]

The major impact you can see with the rise of bitcoin dominance in market is the expected price drop of altcoins.Whenever bitcoins dominance rise altcoins go on a bloodbath and vice versa happen when bitcoins dominance go low

[senne]

I was reading a news article where it was mentioned that actual BTC dominance is quite above the one we see on coinmarketcap. It is somewhere near 90%. This shows that no other altcoin stand a chance against bitcoin even in near future. For currency to be successful, it needs high liquidity in the market. This not only helps in facilitating easy trade and transactions but ensure more security too.

Link to the article-
https://cointelegraph.com/news/bitcoin-dominance-is-actually-above-90-new-research-suggests

[sureshverma]

The major impact you can see with the rise of bitcoin dominance in market is the expected price drop of altcoins.Whenever bitcoins dominance rise altcoins go on a bloodbath and vice versa happen when bitcoins dominance go low

I agree with you. But on another be and not can. Altcoins occupy a niche and everyone who invests in them should understand the risks he is taking