Is Bitcoin Dominance Going Down?

[mrquackquack]

Bitcoins Dominance Percent seemingly is going down. Any thoughts or comments are more than welcome.

[gentlemand]

When alts wake up this happens. They've been dead for the best part of two years. It's been far, far, far lower in the most feverish phases. I think it got down to 36-37% at one point.

The whole thing is based off market cap which is a metric that is pathetically easily gamed so it's not a meaningful figure in itself.

[mrquackquack]

Somewhat off topic and i thank you both for the comments but is Ripple a scam or a legitimate coin? I always see them and I think Stellar it is doing these massive burn offs and sell off and Im just wondering whats up with that?

[gentlemand]

Somewhat off topic and i thank you both for the comments but is Ripple a scam or a legitimate coin? I always see them and I think Stellar it is doing these massive burn offs and sell off and Im just wondering whats up with that?

Most here will tell you it's a fucking joke. However almost everything else is a fucking joke too. If it makes you money and you get out in time then does that matter? No one can tell you whether that'll happen.

I'm astounded it has managed to keep its position for so long. I'm also astounded it ever managed to sneak into the crypto market in the first place when it has almost no resemblance to anything people would consider a proper cryptocurrency.

The most important thing is to be unemotional. Too many people get married to some piece of shit and go down with the ship. Others turn down shit that'll pump because it offends their sensibilities.

[Bitcoin_Arena]

In the early years there weren't so many alts like they are now so it's dominance going down whenever there is a bull run and going up when there is a bear market is normal.
Basing on the recent movements, i would say it's going down and how further it will go will depend on how long we shall experience the bull run.
Below is a graph of Bitcoin dominance for the past 5 years. Take not of that massive deep during the 2017 rally.

[gentlemand]

In the early years there weren't so many alts like they are now so it's dominance going down whenever there is a bull run and going up when there is a bear market is normal.
Basing on the recent movements, i would say it's going down and how further it will go will depend on how long we shall experience the bull run.
Below is a graph of Bitcoin dominance for the past 5 years. Take not of that massive deep during the 2017 rally.

Unlike 2017 there isn't anything resembling all that ICO shit where thousands of 'coins' were conjured up out of nothing and started pumping furiously. That would've accounted for a big chunk of that dominance loss.

No doubt it'll fall a long way. Maybe not as far as previously. Either way I'm not remotely arsed.

[mrquackquack]

That is amazing XRP top 3 in marketcap as of now. Were alot of people buying in at its All Time High around $3 usd?

[gentlemand]

That is amazing XRP top 3 in marketcap as of now. Were alot of people buying in at its All Time High around $3 usd?

ATHs only last for a few minutes or seconds. When people bemoan not selling at such a price they usually forget that hardly anyone actually did.

I knew the 2017 bubble was over when a buddy of mine called me up and said he was going to buy $3 XRP. I told him to buy $200 Bitcoin in 2015 but it was too... expensive. When the dumbest money is keenest that's when you know the party is soon to stop.

[mrquackquack]

What a ride, I don't think its quite over yet. None the less slowly but surely Bitcoin may get lower and lower in dominance only time will tell how this will effect the overall market.

[boltz]

A good bunch of alts have recently woke up on price so Bitcoin lost some dominance over the market but I wonder how much this altcoins are gonna pump as so far we see a nice injection of money into altcoins who had a bottom between October-November 2019 when a lot of accumulation was going on and now we see the reaction of that that could lead to higher prices...depends on Bitcoin if he regains that 10k$.

[Gumpfire]

What a ride, I don't think its quite over yet. None the less slowly but surely Bitcoin may get lower and lower in dominance only time will tell how this will effect the overall market.

Many altcoins have appeared these past few years and because of that incident, bitcoin's value is getting lower and lower. It is true that if this continues in the next years, there will be a great chance that bitcoin will not be any longer dominant in the cryptoworld.

[TravelMug]

Bitcoins Dominance Percent seemingly is going down. Any thoughts or comments are more than welcome.

What percentage did you noticed that bitcoin dominance is going down? It could be that some alts, specially in the top ten have started to grow in the last couple of weeks. And as far as I can remember, bitcoin dominance is like 45%-47% during its peaked in 2017.

So I wouldn't mind seeing the dominance dwindling down as long as the price of bitcoin is going up, just saying.

[Jating]

Alts are still way behind, so this small drops is nothing to be worry about.

https://athcoinindex.com/

Maybe the altcoin market have some gains, but still they are a far cry from their all-time-high. And I don't think that it will bring harm to the market is altcoin market recovers and challenge bitcoin's dominance.

[mk4]

Meh. Don't really overthink the bitcoin dominance percentage. Don't forget that most of the prices of most altcoins are still heavily inflated simply due to the fact that most companies of these altcoins hold majority of the total supply(I'm looking at you, fidget spinner coin). Also, we're still far up compared to bitcoin's market dominance in 2017. While I think bitcoin's market dominance deserves 90%+, we're going to get there in time.

[FanatMonet]

No, and in the foreseeable future, provided that no force majeure happens to Bitcoin, the dominance of Bitcoin will remain on the market. Right now, the dominance of bitcoin is 63.4%, despite the fact that I remember when this figure was about 40%, but history has put everyone in their place.

[bgaf]

While I think bitcoin's market dominance deserves 90%+, we're going to get there in time.

I think this will be far from reality. Now is 63% that's roughly 27% needed to be in 90% dominance which reminds me of 2017 bull run. If that's happened I can sense many altcoin will die out as 10% dominance will be consist majority of all top altcoins alone.

I think bitcoin will keep dominance for long time, and will have more money than other altcoins and is not the time for altcoin bull run now.

will keep what? higher or lower? Can't understand what you mean. Not really, some altcoin started to rise already. Check out Binance coin, it isn't down compared to other alts. For some projects with improvement bull run can be possible even the market is down depends on the demand of that altcoins.

[joniboini]

This metrics only show the percentage of 'how many' Bitcoin trades are executed on the market compared to the whole volume. Simply put, it shows whether people are trading more Bitcoin or not. It doesn't really tell 'how well' Bitcoin is, and is only useful to find an entry point for the 'alts party'.

Don't be too concerned about the numbers.

[Dhoe]

Bitcoins Dominance Percent seemingly is going down. Any thoughts or comments are more than welcome.

No, I don't think Bitcoin dominance will go down, just now I saw in Coinmarketcap the dominance of Bitcoin still stands at 63%. And I see that has lasted a long time. Especially after Halving's moment, then I'm sure Bitcoin dominance will grow even more.

[Latviand]

In the early years there weren't so many alts like they are now so it's dominance going down whenever there is a bull run and going up when there is a bear market is normal.
Basing on the recent movements, i would say it's going down and how further it will go will depend on how long we shall experience the bull run.
Below is a graph of Bitcoin dominance for the past 5 years. Take not of that massive deep during the 2017 rally.

Its market value have shown a downtrend for the previous years but I doubt that its dominance is falling. For the past years the price of Bitcoin fell but same as with other cryptos' market value. From this, there is a parallelism with regards to the dominance, meaning, Bitcoin is still on top of other cryptos whilst the downfall of the market prices.

This metrics only show the percentage of 'how many' Bitcoin trades are executed on the market compared to the whole volume. Simply put, it shows whether people are trading more Bitcoin or not. It doesn't really tell 'how well' Bitcoin is, and is only useful to find an entry point for the 'alts party'.

Don't be too concerned about the numbers.

Numbers are more of a statistical proof but as what being said, the number of trades fell down but that is due to the circumstances. People did not choose to trade at times of downfall simply because they chose to hold at that point and to patiently wait for the uprise to occur.

I think bitcoin will keep dominance for long time, and will have more money than other altcoins and is not the time for altcoin bull run now.

This would only happen, referring to alts uprise, if ever Bitcoin will face a certain issue that would make its wide range of users, uninterested towards Bitcoin. So it would really seem to be constant, that Bitcoin will remain dominant, given that its reputation is still fine.

[Reid]

So how can we graphically tell the dominance of one coin against another?
Is it really just how coinmarketcap will tell it?

I don't think so.
Dominance is when you have real supporters out there. That is for me.
I don't think altcoins really have that.
Let us say they are being used and abused only. For what? For profit of course.
But that cheap coin then sell it when the good number comes. There is no sense into keeping it for a long time.
Emotions happens though. There are people who fell in love with what they see. Then what? They will keep on expecting more until the wise guy on the other side of the wall sells all his altcoin. You end up with nothing.

I am just waiting for my ROI or even a small profit then I will freaking sell it all without regrets.