Is Bitcoin Dominance Going Down?

[thesmallgod]

I do not really understand what you mean by the dominance of bitcoin going down. If you mean it is not as popular as it was before then I think you may be right partially, probably because it is not gaining much-needed attention as it was in the media few years back and recently due to the twitter creating an emoji for bitcoin, it was trending on twitter. I think the hype is always initiated by the rise in price which in turn increases the bitcoin dominance. Even if bitcoin is not dominating, I still do not see any altcoin overtaking bitcoin in terms of dominance.

[BlackFor3st]

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

From 68% the bitcoin dominance is already sitting at 63% so it goes down a little as of the moment. I am not so sure if this was because of the bull run or because other investors who invest to altcoins are getting stronger.

As I look to the market in daily basis, I saw that many altcoins are also growing upon the increase of bitcoin price so I guess this is the reason why the bitcoin dominance goes down. Though it is not that big percent but still it gives a hope to altcoin holders/investors.

[davis196]

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

I can say that 2020 will be very much like 2017 for the crypto world.In a bullish trend,the bitcoin market cap goes down and the altcoin market cap goes up.This is pretty normal,we've seen it before.The crypto traders are optimistic about the future,so they are buying more risk,by buying more altcoins,hoping for bigger profit margins.This isn't "bitcoin dominance",because bitcoin isn't competing with the altcoins(despite what everyone says).It's more like a symbiotic relationship,rather than a competition.

[Gladiator25]

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

I think bitcoin is still dominant when it comes to crypto currency because bitcoin is  still the most popular and still on the top of the market. When you ask other non-crypto people on what are their thoughts about crypto currency, the first thing they will remember is the bitcoin because it is most used name when it is being shown in the media.

[bryant.coleman]

Most of the reduction in Bitcoin dominance was not caused due to an increase in the altcoin share. Rather, it was the Bitcoin forks such as Bitcoin Cash and Bitcoin SV which did most of the damage. If you want to track the dominance, then you may check this thread:

https://bitcointalk.org/index.php?topic=5158368.0

IMO, what happened in 2017 is not going to repeat this time. Back then, the alts went up due to the hype surrounding the ICOs. As of now, the ICO market is in its deathbed, and Bitcoin has constantly maintained a market dominance of at least 60%.

[Kunnu]

The current Bitcoin dominance looks balanced to me and yes it's little bit down these days but I think it's a normal procedure and it's happening because of few altcoins which are performing quite good these days anyway this kind of situations are a part of cryptocurrency market hopefully we will see a decent growth in btc dominance this year.

[joeperry]

I beg to disagree that Bitcoin dominance is going down. There may be relative changes to its value but it still looks balanced especially that there also shifts on trading today with diverse and numerous coins circulating in the market. Bitcoin and Altcoins have an inverse correlation, other coins drops as Bitcoin increases because people sell their old coins to Bitcoin. Alongside, Bitcoin increases, people consolidate into alts and the price of Ethereum rises. Nonetheless, when dominance is regarded, Bitcoin still has the most interest of the traders.

[Sanugarid]

I do not really understand what you mean by the dominance of bitcoin going down. If you mean it is not as popular as it was before then I think you may be right partially, probably because it is not gaining much-needed attention as it was in the media few years back and recently due to the twitter creating an emoji for bitcoin, it was trending on twitter. I think the hype is always initiated by the rise in price which in turn increases the bitcoin dominance. Even if bitcoin is not dominating, I still do not see any altcoin overtaking bitcoin in terms of dominance.

The idea is that they are thinking that there are other tokens or coins that are gonna beat bitcoin from its dominance. We all know that bitcoin is dominant in terms of value and volume, you can check it on the market or every exchanges. That is maybe because bitcoin is the primary coin that is being used into different platforms. When investing, buying or even using as payment method. Making it become a first of all the coins.
 

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

I think bitcoin is still dominant when it comes to crypto currency because bitcoin is  still the most popular and still on the top of the market. When you ask other non-crypto people on what are their thoughts about crypto currency, the first thing they will remember is the bitcoin because it is most used name when it is being shown in the media.

That is why I dont think the dominance of bitcoin as of now is gonna beat by other altcoin just because of the increase of shares of any alternative coins. As we look on the market as of now, it is recovering and reaching ten thousand dollars and keep on rising.

[bryant.coleman]

I beg to disagree that Bitcoin dominance is going down. There may be relative changes to its value but it still looks balanced especially that there also shifts on trading today with diverse and numerous coins circulating in the market. Bitcoin and Altcoins have an inverse correlation, other coins drops as Bitcoin increases because people sell their old coins to Bitcoin. Alongside, Bitcoin increases, people consolidate into alts and the price of Ethereum rises. Nonetheless, when dominance is regarded, Bitcoin still has the most interest of the traders.

Bitcoin dominance is the market share of Bitcoin in the cryptocurrency market. Simply, the formula for calculating it is:

Dominance = (Market share of Bitcoin) / (Market share of BTC + Market Share of altcoins)

It is a very simple formula and explains why the altcoin share goes down whenever the dominance of Bitcoin increases. But at the same time, it should be remembered that dominance has nothing to do with the exchange rates. From what I have seen, the exchange rates of altcoins go up, most of the times when that of Bitcoin increases.

[pooya87]

like always bitcoin (real) dominance remains around 99% and that has not changed over the 11 years of its existence. the only thing that has been changing from time to time is the market cap ratio and that will always keep going down the more shitcoins they create that have enormous supplies because it is super easy to create fake market capitalization in an altcoin by creating a lot of it and then having a tiny price.

[Janation]

It went down, yes, but there are still a lot of people out there supporting it.

Despite this loss of Bitcoin's dominance for consecutive days, the price of it is still moving not disappointing its investors and users. It fell down, yes but as long as people are keeping on investing in it, keep on using it, I don't think that should be a problem. It is still the most expensive cryptocurrency in the market, and as long as it stays there, investors will keep on coming back.

[peter0425]

having 62% in dominating market capitalization?i don't think it is appropriate to say that.
bitcoin is still dominating high the crypto world so nothing to be alarmed mate.

and besides 62% is truly high enough to prove the dominance not unless you all want to make it 80%?with too many altcoins around that is impossible for now to happen.

[Google+]

having 62% in dominating market capitalization?i don't think it is appropriate to say that.
bitcoin is still dominating high the crypto world so nothing to be alarmed mate.

and besides 62% is truly high enough to prove the dominance not unless you all want to make it 80%?with too many altcoins around that is impossible for now to happen.

well your explanation is very reasonable because when halving it will be more difficult to get bitcoin while those who search and use bitcoin have a very high amount so it will have a good impact on the price at the exchange place that will soar because bitcoin is very valuable so people will always be looking for bitcoin and will use it for something that can provide benefits and make it easy to transact.

[MooWho]

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

I read less than two weeks ago about BTC showing a strong rebound in Dominance Percentage (as the chart above showed for most of 2019), so what you are seeing is probably a small move in the other direction. Overall, there is not currently a real threat to Bitcoin's awesome dominance.

[milesfull]

Bitcoin dominance will be 45%+ in the next year in my opinion. There are no projects to break it

[ethereumhunter]

If bitcoin dominance going down, that is normal, and I think that will only happen for temporary. Soon, bitcoin dominance will go up again, and that can have an impact on the price that can increase higher. If bitcoin dominance is down, then the altcoin will go up, and I think we will see the altcoin price will also increase too. We need to watch the market close so we can know what will happen with the bitcoin price.

[Reatim]

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

lol that is actually High more than 60% of the total market capitalization are in Bitcoin so how come that you think this is going down?
of course it will sometimes up and Down because no way that it will consistently Up ,if that will happen then for sure the dominance percentage can take 100%?so what about the altcoin don't you want to give them a part of the market?and besides this is the highest Bitcoin dominance had 60% and up percent.

[alani123]

I don't see it going down in the future, at least not considerably. But to be perfectly honest, I also don't see it as a metric that holds any weight.
A rush to buy an altcoin can inflate the prices and create an artificial market capitalization that really doesn't hold any weight. Bitcoin's value lies in its long term reliability and proven use case. It continues to have the most robust network and will likely continue to be in thenumber one spot for purposes of real use cases other than just speculation. There's more value to that other than any market capitalization statistic.

[Gozie51]

Stellar it is doing these massive burn offs and sell off and Im just wondering whats up with that?

I think this is a good move by the stellar project but I wonder since then, the coin has not made a real bull run because burning is suppose to grow a coins community at least. But lets see how all will play out after halving of bitcoin.

[MufasaR]

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

where is this argument being drawn from to make this comparison of todays bitcoin stance.

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.

the same market cap that has manipulated numbers I definately do not see this as a standard of measure for Bitcoin Dominance or use.