Thoughts on Bitcoin's Increasing Market Dominance

[kennen1113]

It just means that people are getting smarter to invest in Bitcoin rather than spend their money in other useless project. If it were to continue, we might see some increase in BTC price in the next months. The only one I deem worthy is ETH and Monero as an alternative to Bitcoin.

If Bitcoin where to increase more in Volume, more and more altcoins gets shut down.

I understand your ambition and thinking, many people become smart and focus money on bitcoin, that will help increase the value of bitcoin, and this means that those who hold bitcoin will gain the highest return from this investment, but if this situation happens, altcoin will close and you should know that this continuous closure can cause imbalance. A market that only looks at bitcoin will no longer be a good game zone for all, domination can be good but bitcoin should still stop, it should let altcoin continue to live, investors have more opportunities to make money to move into bitcoin

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[yojoots]

I contend that most cryptocurrencies have basically been riding Bitcoin's slipstream in terms of attention, adoption, and market performance. Altcoins have high beta values in cryptocurrency, which produces enticing opportunities, especially during "Mania" phases of market cycles. Everyone wants to beat The Market, and it's a natural (if misguided) assumption of newcomers that they are "too late" to profit considerably from Bitcoin, the de facto standard and baseline of cryptocurrency.

What this means in practice is that non-Bitcoin cryptocurrencies will almost certainly never completely disappear, but it's very possible that their relative valuations are still temporarily overinflated and that Bitcoin's compounding Network effects and status as a focal point, in particular in tandem with the Lindy effect, will result in a continuance of its historical performance dominance over other tokens (particularly in aggregate and over the long-term).

[lixer]

It just means that people are getting smarter to invest in Bitcoin rather than spend their money in other useless project. If it were to continue, we might see some increase in BTC price in the next months. The only one I deem worthy is ETH and Monero as an alternative to Bitcoin.

If Bitcoin where to increase more in Volume, more and more altcoins gets shut down.

Most altcoins does deeper because they are meant to be independent and since they are not active enough to convince investor to put money into their own market, investors will continue to follow the hype and usefulness of bitcoin, and that is why you will see that bitcoin is increasing more in dominance than other altcoins.

I know that altcoins seasons too will surely come, but the majority of the altcoins if care is not taken would have already lost all their pride and lost all their customer to bitcoin, if they are not even lost finally themselves, but i trust more in those coins that are at the top market in either exchanges or the top in the most popular ranking site of coinmarketcap, then bitcoin dominance would have reduced a little bit or remain constant for a while.

[hd49728]

I know that altcoins seasons too will surely come, but the majority of the altcoins if care is not taken would have already lost all their pride and lost all their customer to bitcoin, if they are not even lost finally themselves, but i trust more in those coins that are at the top market in either exchanges or the top in the most popular ranking site of coinmarketcap, then bitcoin dominance would have reduced a little bit or remain constant for a while.

We have still been in the early days of altcoin season, which is certainly not a season for all altcoins. I strongly believe that most of altcoins born in 2017 and 2018 have been death and nearly unable to recover. Their are some main internal factors for their failures, not come from general market conditions. Their developers are inactive or already abandoned their projects. In some projects, there are no proofs that their developers abandoned but inactively conditions are surely not good things.
I believe in this year and next one or two years, there is very difficult to catch capital from investors if one project only claims, I will use source code, fork from this one, and build up my strong project, blah blah.
CEO of Binance has same opinion about it. He said, in crypto market, there are only chances left for ones that have real usecases.

[NewBet]

since the market is crashing, it's only natural that Bitcoin gains more dominance because it's years ahead of any other cryptocurrency and some people trust having their money in it than any altcoin. Bitcoin is much more stable then other coins. Even though it isn't so stable itself, it's just much better overall having your money in Bitcoin then alt coins.

[suhadi88]

The idea that is currently coming to my mind is investing in Altcoin. A few weeks ago indeed Bitcoin was very visible dominating. But nowadays Bitcoin does not show a lot of price changes. It can also be seen that the Altcoin price is now a lot down.

This condition got me to re-buy the Altcoin because I'm sure if the Altcoin will slowly rise. Perhaps the price increase of Altcoin will not happen sooner, but at the end of the year hopefully can happen.