Is bitcoins dominance coming to an end?

[ololajulo]

In the last bull market, bitcoin lost it dominance to as low as 30%, we have seen it drop from 80% in recent months to 60%. This are prediction we have seen come to pass and have not bad effect but good, dont listen to some bitcoin maximalists they are doing business with altcoin now. The dominance wont affect the use but the overal price value, this will increase the use among trade for altcoin in the space. Altcoin has seen a little spike especially for most new project in DEFI etc while we wait for old coin to start a new run if ETH really respond to the development of ETH 2.0

[shield132]

As time goes, only the strongest ones survive and I wouldn't say that bitcoin is losing it's dominance, no, it's opposite. It's clear for everyone what happened during this pandemic and what was the expectations around bitcoin and what we got finally. In such a bad situation bitcoin didn't lose it's price and keeps to be stable between 9K-10K usd range. And if someone thinks bitcoin is losing dominance, then I would love to remind them that bitcoin is still mainstream and altcoins follow bitcoin's price, they won't rise significantly before bitcoin.

[dunfida]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

When we do talk about this market then nothing is assured to last up forever but after all the years we have seen on bitcoin in terms of dominance then theres no alt would able to beat it up but going back into those bull run  days where ETH do almost able to tie up with btc or possibly go up even more but peoples confidence and support will surely ends up on bitcoin in the end of the day this is why
we do see on how bitcoin dominate the market.It might drop but theres no way that alts can able to take that spot unless if there are really some exceptional jump of bitcoin supporters to other alts
which is really hard to believe for now.

[Sebas.tian]

I don't see this as bitcoin losing it dorminance to altcoins, though the current happenings or events are been hype by these defi projects. Those projects are been hype because the team projects are sole responsible for the hype. This won't take a longer time from now before bitcoin will take full control of it dorminance. Bitcoin will definitely take over the cryptocurrency market without panic and this will be soon.

[ReiMomo]

I guess Bitcoin price will go down in no specific time frame but when we are talking dominance, I guess it will the same among altcoins.

Just curious why Bitcoin dominance will coming to end, so you meant that it will replace by altcoin?
I don't think so that will happen, Bitcoin will remain the most powerful of all cryptocurrency and if the dominance will down surely there is always a resistance.

[cr1776]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

No.  Do you want decentralization by the developers? Do you want decentralization by nodes?  Do you want the highest security of the network via the most hash power?  Do you want the ecosystem?   None of the alts have all that, I don't think any of them have avoided the single point of failure of having a single developer who is pretty much in charge.

[ene1980]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Speculations in the forums predicts that the dominance of bitcoin will end  . Lets assume that the dominance of bitcoin is going to end and since you wanted to start a topic regarding this i would like you to list a few coins that have the potential to take over that dominance and lets be real why don't you start a poll and lets see what the forum says and i do not see any other coin worthy of mentioning above bitcoin.

[TIDOVEE]

I still don't know why we worry about any other altcoin dominating bitcoin. I am so much enjoying Bitcoin than many other altcoin whichsoever , but since I believe in competition that triggers personal improvement, I believe if any other coin rises up to content with Bitcoin it should be an issue in as much as Bitcoin it still doing well. If we have like 3 of other coin so sense making as Bitcoin, when the world population increases to embrace crypto in general there will be diversity, which is the spice of life.

[gerica0613]

ETH 2.0 is just hype, will not last long till it's in the shadow again

[logfiles]

As you can see in the graph, the bitcoin dominance was massively tested during the 2017 bull run whether so many newbies were blinded into holding bags of shitcoins due to over hyped ICOs. After the 2018 lessons, many people learnt that shitcoins are just shitcoins and Bitcoin is Bitcoin. I don't think the bitcoin dominance will ever be affected that much again.

[AjithBtc]

As you can see in the graph, the bitcoin dominance was massively tested during the 2017 bull run whether so many newbies were blinded into holding bags of shitcoins due to over hyped ICOs. After the 2018 lessons, many people learnt that shitcoins are just shitcoins and Bitcoin is Bitcoin. I don't think the bitcoin dominance will ever be affected that much again.

Those were the days of ICO's. ERC20 based tokens were the one making a big difference. By the time more and more projects keep on popping. To the speed of projects popping, it gained targeted investments. The dominance level of altcoins kept growing,and when it it started to crash most of the tokens turned to be shit ones. This is where the dominance of bitcoin once again took lead. Anymore the chance of bitcoin dominance coming to an end is very low.

[MCobian]

I am still sure that Bitcoin will not lose its dominance, indeed when 2017 there will be rallied more than 1000% of altcoins. But in the end
Bitcoin remains in control and until now still dominates the market. So I doubt Bitcoin dominance is coming to end, because of all of us
definitely save Bitcoin on their respective wallets. Especially now that the popularity of Bitcoin is on the rise, so it's unlikely that Bitcoin losing
its dominance.

[pixie85]

ETH 2.0 is just hype, will not last long till it's in the shadow again

I think it will end like BCH when it forked from Bitcoin and then again like BCH and BSV when they were forking.

The news started a big hype and now all those coins that were supposed to be the new Bitcoin are worth 10% of their former value.

[Baofeng]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

I remember that when we are in a bull run in 2017, bitcoin's dominance is <50%. So it could be a good indication if we loss some today but gain in price. I think the this DeFi is pumping the altcoin market and there could be some whales shifting their money where there is a good chance to profit even higher than bitcoin because of the DeFi hype. I'm not that nervous though, and we all know that this hype will die down and everyone will go back to bitcoin market in no time.

[fiulpro]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

-Etherum has just become the most used Crypto because of its many advantages that attracts the Investors. Plus its technologically more advanced which is being preferred by a lot of companies. The contracts on ETH are also a big hit now a days used by lending agents and companies.

-Elon Musk apparently is supporting the Dogecoin and at the same time it's hiking the price up .

-Altcoins like BCH and Litecoin are getting accepted by stock exchanges now which means people are keeping their focus on them too .

But at the same time one needs to understand the fact that even though we read news like these all the time we have to understand for a fact that :-

-most altcoins are dependent on BTC even for buying/selling

-BTC remains the most trusted Crypto since people generally buy ETH to transfer and change it to BTC for long term investment

-which means it's not like the focus is shifting to other coins , it's actually how these coins are helping one another , it's more like a symbiotic relationship.

-*-

[posi]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

I dont see any reason why BTC dominance will be over when BTC is the most used cryptocurrency all over the world. Besides, no altcoin can withstand the potential of BTC. However, this not the first and wont be the last time we will see the whales targeting altcoin over BTC but usually happen for some moment so only experienced and smart traders can seize the opportunity.

[Oasisman]

Bitcoin's dominance is still firm. Just because Bitcoin's market share drops down to 60% doesn't mean it's lossing dominance.
The most common thing we can think of similar to this prediction is the rise of Ethereum and erc20 tokens in 2017, and that's even worst because Bitcoin's market share fell down to 40%. That's mainly because of the scalability issue and high network fees in 2017.
How did it turned out? Solutions has been made to address these concerns such as SegWit and Lightning Network. But, I don't understand why this guy Zhavoronkov says LN is "fundamentally flawed"

As you can see in the graph, the bitcoin dominance was massively tested during the 2017 bull run whether so many newbies were blinded into holding bags of shitcoins due to over hyped ICOs. After the 2018 lessons, many people learnt that shitcoins are just shitcoins and Bitcoin is Bitcoin. I don't think the bitcoin dominance will ever be affected that much again.

Nailed it. Will this happen again? Maybe, because people are fond of collecting shitcoins lol.

[Alobo Realer]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Bitcoin is far bigger and stronger than how it use to be, its dominace is indestructible as it is gaining adoption rapidly, many have learned a lot about it, it's worth and uses as such will not let it crash, Just as it won all fight with the fiat and alt currencies in the past so the future will be. Going up and down is sure but never to crash

[CaVO32]

"2018 - bitcoin's dominance is going to end
2019 - same shit
2020 - same shit"

^ Statement by most altcoin maximalist. Yet, bitcoin's dominance remains.

I also thought an altcoin would topple bitcoin before but I've already come to terms that it's not going to happen. "Challengers" can have all their faster/cheaper features but they can't match Bitcoin's superior security.


Now let's tackle the opinion of the Blockchair's executive:

privacy is not the top cryptocurrency’s strongest suit as its network allows blockchain analysis firms to track user activity. Users who wish to keep their transactions private can turn to a number of altcoins including Monero, Dash and Zcash.

Users can still maintain their privacy when sending btc as long as they don't use centralized platforms though.

Bitcoin’s scalability is another nail in the coffin. He says the Lightning Network, which is a second-layer solution designed to make it faster and more cost-effective to send BTC, is fundamentally flawed.

This is an old issue. He failed to address that people who support bitcoin knew this long ago but they are willing to give up the convenience of scalability in exchange of network decentralization and security.

He points to Ethereum, with its proof-of-stake (PoS) protocol, as one coin that could topple BTC.

Ethereum's POS looks good on paper when it comes to scalability but this has yet to be proven. There are plenty of existing blockchains who can scale better than Bitcoin but none of them were able to dethrone btc.

The upcoming upgrades, Taproot and Schnorr signature, are also said to increase privacy and scalability. Perhaps he failed to read on that as well.

you are right. we are already in 2020 and some people are still believing that same old line - bitcoin's dominance is going to end. And yet we are still here, bitcoin still on top of the chain. The popularity is just getting stronger everyday. Alts come and go, many have attempted to create a "better and more powerful" alt than bitcoin but most of them failed even in reaching out to popular exchanges. We have had enough of this same old propaganda. Let's accept the fact that even with bitcoin's shortcomings, it still remains to be the sought-after crypto in the community.

[mirakal]

Speculation does not mean to be right, anyone can make realistic and crazy speculation without being judge because we never know what would happen to the market in the future, of course it's possible that bitcoin will be replace on its current spot now, but we have our own prediction.

For a coin to beat the dominance of bitcoin, it's a hard mission, even if bitcoin will drop it's dominant rate at 30%, I think it will still dominate the market as we have a lot of coins that will divide the 70%, unless one altcoins will rise in the competition and will leave other altcoins, which is unlikely to happen IMO.