Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High

[kolbalish]

Bitcoin continues to slide while ether has a larger share of the crypto market than it has had in years.

Bitcoin (BTC) trading around $10,726 as of 20:00 UTC (4 p.m. ET). Slipping 6.1% over the previous 24 hours.
Bitcoin’s 24-hour range: $10,468-$11,474
BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.

Bitcoin continues its downward trend Thursday, with prices descending as low as $10,468 on spot exchanges such as Coinbase. While it has recovered a bit, traders selling for profits has certainly been the theme right now.

Reference: https://www.coindesk.com/market-wrap-bitcoin-eth-dominance?amp=1

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[slaman29]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

[STT]

ETH isnt the reason for BTC to pull back, its already exceptional that BTC recovers this fast this year.   Both BTC and ETH can do well and have done well historically, I dont see them as opposed exactly more likely ETH now catches up from a lower point due to its ICO deleveraging effect.
   The point for BTC to watch over a wider period is 10500 which was a previous ceiling, we are back below that point now which is important to note.   I do wonder if we drift back over the border somehow for the weekend, or it might be more strictly patrolled then this.

[cryptomaniac_xxx]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

There could be some ETH enthusiast you might be talking about flippening, but I don't think it will gain traction though. And no, it won't happen, one thing that it experience, similar to bitcoin is the exorbitant gain fees lately, even higher that BTC itself. And we all know what's fueling the altcoin bubble, the Defi madness.

@STT - I'm inclined to believed that we might see BTC going sideways this weekend.

[Yaunfitda]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

There could be some ETH enthusiast you might be talking about flippening, but I don't think it will gain traction though. And no, it won't happen, one thing that it experience, similar to bitcoin is the exorbitant gain fees lately, even higher that BTC itself. And we all know what's fueling the altcoin bubble, the Defi madness.

As far as I can remember, the so called Flippening is based on price, meaning Ethereum price should be at par or higher than Bitcoin. And obviously, Ethereum is not even closed. But I do agree that the sudden dominance of Ethereum or at least some major altcoins are due to the Defi craze. Interesting to see what will happen to Bitcoin though, seems the decline has stop a bit, $10,300 is more likely we are going to settle for this week.

[600watt]

I don’t think you can use the word „dominance“ for something that has no dominance. It has either to be more than 50% or it has to be the way biggest of lots of small contenders. Bitcoin is both, eth is none of these.

Soooo.... you should re-name it into ETH-inferiority

[Saisher]

Please do check the dominance level before shilling Eth it's not what half of what Bitcoin has I am also a big supporter of Ethereum but to say that Bitcoin is losing it's dominance and Ethereum is fast moving and big threat is not true.
Dominance:
BTC 55.6%
ETH 12.6%
USDT 4.04%

[mk4]

Surely we're not talking about another round of flippening talk?

Oh we have A LOT of that. Check out Reddit r/cryptocurrency and Crypto Twitter(from those so called "cRyPtO iNfLuEnCeRs") if you want to lose a good amount of your brain cells. Thankfully were mostly bitcoin-bulls here on Bitcointalk.

[Oasisman]

I don't see it that way. ETH in market dominance? Look at how ETH is also lossing more than 6% under 24hrs.
Bitcoin is just having a correction after a long period of the bullish run after recovering last March during the rise of pandemic.
Remember this, even If Bitcoin is down below $10,000,a huge recovery and a potential bullrun that might reach new heights. Everyone is expecting a bull next year, It doesn't matter whether Bitcoin tanks or not.

[GreatArkansas]

I don't see it that way. ETH in market dominance? Look at how ETH is also lossing more than 6% under 24hrs.
(....)

But if we check the chart of Ethereum, it's kinda good for Ethereum since if you can see the recent horizontal support on Ethereum, it's still not broken, Ethereum is still above on it, compare to Bitcoin.
But it still okay for me now that Bitcoin will not below $10, 000 because for sure, Ethereum will follow too even there is DeFi trends these days.

[exstasie]

Surely we're not talking about another round of flippening talk?

Let's compare to 2017. The ETH and token bubble began in March 2017, right when the Winklevoss ETF was first rejected by the SEC. BTCUSD dumped hard at that time while ETHUSD surged in value.

That isn't what is happening at all this time. BTC and ETH crashed together in lockstep 2 days ago. That tells me this isn't a bubble and we are nowhere near the "flippening" stage yet. For me, all signs still point to 2020 being a parallel for 2016. A bull market, but not a bubble.

I am confident we'll have another "flippening" phase too. Just not yet.

[LogitechMouse]

I already said it in my previous posts days ago that I'm expecting for Bitcoin to go down at least near the $10,000 or below that price since it has been going upwards for days already.

Now it happened already. We can say that the investors are selling Bitcoin to join in the DeFi hype but still I already expect that this will happen . I think that we will stay between the $10,000 to $11,000 for some time though but if it goes below the $10,000 price, ready your money .

[Slow death]

but if it goes below the $10,000 price, ready your money .

it is better for people to keep their eyes open because the price dropped to $9800 and then went back to above $ 10,000, if the price stays for a long time at $10400 without increasing, then we will see another dump and this time it will break the $ 9800, so people must prepare to see lower prices


this Is another one of those articles that the person reads and then says: "this author is a person who wrote the article based on feelings"

[GreatArkansas]

Please do check the dominance level before shilling Eth it's not what half of what Bitcoin has I am also a big supporter of Ethereum but to say that Bitcoin is losing it's dominance and Ethereum is fast moving and big threat is not true.
Dominance:
BTC 55.6%
ETH 12.6%
USDT 4.04%

These numbers are great, watching in market dominance is quite good. I am not a supported of Ethereum, since I am a trader, I am more on technical analysis part.
I tried to compare the recent drop of Bitcoin and also Ethereum when Ethereum reach around $470+ and now we are now below $400.
The recent drop is quite good. And you got some point especially in the market dominance of Ethereum, it is rising but what I am worried about tis the volume of Ethereum, I am not satisfied, it's still quite low.

[Oceat]

It's the reaccumulation phase again and within this year we might see a continuous support of trying to break the 15k resistance but obviously something is stopping it when it hits at 12k. This might be a playground for 10k for a couple of weeks or before either going up or down we'll surely see this 9k or 11k figure in no time.

[Zemomtum]

DeFi mania is what is causing the sharp decline in the BTC price and might eventually draw a large portion from BTC dominance. ETH is also not doing bad taking a look at the recent rise in price, this correction is due for a health uptrend and next move will be $500 per ETH.

[Raflesia]

Please do check the dominance level before shilling Eth it's not what half of what Bitcoin has I am also a big supporter of Ethereum but to say that Bitcoin is losing it's dominance and Ethereum is fast moving and big threat is not true.
Dominance:
BTC 55.6%
ETH 12.6%
USDT 4.04%

These numbers are great, watching in market dominance is quite good. I am not a supported of Ethereum, since I am a trader, I am more on technical analysis part.
I tried to compare the recent drop of Bitcoin and also Ethereum when Ethereum reach around $470+ and now we are now below $400.
The recent drop is quite good. And you got some point especially in the market dominance of Ethereum, it is rising but what I am worried about tis the volume of Ethereum, I am not satisfied, it's still quite low.

In my opinion, the comparison of Bitcoin and Ethereum will not be the same because it will still dominate the price of bitcoin if both experience a great decrease then this will remain the same, but Ethereum will not be able to go higher first.

Isn't Ethereum volume also higher in second place is that not low enough?
Look at the market, some of it has returned to green. Will the coin be like it was before?

[tbterryboy]

I am very excited about the situation with ETH, it has been a favorite of mine for years and it is great to see it coming back. I have told people even back when it dropped to 100 dollars that it shouldn't be around that level and people should invest to it heavily because there is no way ethereum could be that low and it was criminally undervalued, I am so happy that I actually saw that and bought as much eth as I can find.

However it is sad what is going on with bitcoin obviously, I still have my btc and I hate it when it drops. This is not a big drop, it is definitely a drop we can afford, but I would rather not have it drop like this anyway even if it is just small. This could be just accumulation phase and I am sure it will recover and go higher very soon.

[k3rnel31]

I am very excited about the situation with ETH, it has been a favorite of mine for years and it is great to see it coming back. I have told people even back when it dropped to 100 dollars that it shouldn't be around that level and people should invest to it heavily because there is no way ethereum could be that low and it was criminally undervalued, I am so happy that I actually saw that and bought as much eth as I can find.

However it is sad what is going on with bitcoin obviously, I still have my btc and I hate it when it drops. This is not a big drop, it is definitely a drop we can afford, but I would rather not have it drop like this anyway even if it is just small. This could be just accumulation phase and I am sure it will recover and go higher very soon.

I totally agree with you. Eth went from 235 to 420.. people starts selling then wen to  to 480 people sold their coins wich results on drop to 380 -396 so other people panic and sold again .. wich results to crash ..just like 2017 with btc ... Eth will bull run very soon. Im glad we get rid of fud people and short time investors .now hodlers will win as always

[TopTort777]

Recent price drop is an excellent opportunity to get some ethereum. This could be your last chance. I dont think that is a drop down. Probably a long waited correction (market can not just grow all the time). I dont call to buy now, but placing smart buy orders will be wise.

[exstasie]

DeFi mania is what is causing the sharp decline in the BTC price and might eventually draw a large portion from BTC dominance. ETH is also not doing bad taking a look at the recent rise in price, this correction is due for a health uptrend and next move will be $500 per ETH.

DeFi mania had nothing to do with this decline. If money were flowing into altcoins right now, ALT/BTC pairs would be rising. Just look at ETHBTC: it's been crashing ever since the September 1st top.

This was just a good old shakeout. Bitcoin dumps, altcoins dump harder. Risk assets are all dumping together this week.

I'm sure DeFi will have a huge effect on Bitcoin dominance during the next altcoin bubble, but in my opinion we're nowhere near that point.

[Silberman]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

[starseeker]

As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL

[bitgolden]

Market dominance of bitcoin is also very down as well, it is around 55% levels when I last checked it and that is as low as I can remember in a long time, it hasn't been that low for a while now and I can remember about 62% or so just few months ago, which tells me that bitcoin is losing the grip on the market right now and becoming something a bit more seldom.

Obviously that is not a bad thing, this is all crypto and I love it when crypto currencies aside from bitcoin makes their own movements but how sustainable is it though? I can see all the weird stuff like USDT getting higher even though it is a stablecoin and not a crypto currency, stuff like polkadot or yearn.finance getting super high as well, these are all new stuff and fake stuff so I am not sure how long it will continue.

[Yaunfitda]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation. I don't think that the ETH topic about this so called flippening will come back though. We know that it's not going to happen and ETH will not get close to BTC as far as price goes. 40%-50% dominance of bitcoin? doesn't matter. It might be losing some grip, but it will be somewhat stable around that range.

[noormcs5]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation. I don't think that the ETH topic about this so called flippening will come back though. We know that it's not going to happen and ETH will not get close to BTC as far as price goes. 40%-50% dominance of bitcoin? doesn't matter. It might be losing some grip, but it will be somewhat stable around that range.

We just need to wait for few more days, as soon as the market will start to recover, we will see the greed fear index turning into greed.

Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.

[Taskford]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation. I don't think that the ETH topic about this so called flippening will come back though. We know that it's not going to happen and ETH will not get close to BTC as far as price goes. 40%-50% dominance of bitcoin? doesn't matter. It might be losing some grip, but it will be somewhat stable around that range.

We just need to wait for few more days, as soon as the market will start to recover, we will see the greed fear index turning into greed.

Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.

You are correct so best not to get affected when someone getting panic of situation of the market since whenever there's a dump the pump will follow so best to see the market at this point and monitor on when to enter since whenever we spot the dip then buy in a right time for sure we will earn some profits in the long run. I believe that the current price is still in decent shape and there's nothing to worry about it.

[onecall123]

~snip~

We just need to wait for few more days, as soon as the market will start to recover, we will see the greed fear index turning into greed.

Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.

A simple rule of a good return from any situation. And there is green back into the market. needs to keep moving.
Most of us we do opposite practice. This is an opportunity. If you're not accumulating in right time then how you gonna make profit? That's make pretty sense, nah!

[exstasie]

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation.

A $2,000 (~17%) drop in 48 hours would explain it! Not to mention how harshly altcoins dumped.

I forgot all about the Fear & Greed index. Didn't realize we were in "extreme greed" just 3 days ago! Sometimes it really pays to keep track of this stuff.

We just need to wait for few more days, as soon as the market will start to recover, we will see the greed fear index turning into greed.

Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.

Keep in mind, the market can become much more fearful than it currently is.

This past February after a 2-3 month rally, the index switched to "fear" on Feburary 20th in the $9,000s. The market dumped to the $3,000s by March.

[pixie85]

As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL

Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".

The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.

ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.

ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?

[Gaaara]

As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL

Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".

The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.

ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.

ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?

That is no dominance, the fact that ETH continued to go down has been bothering since the moment it hit a certain point it goes down as fast and goes lower than the recent ceiling, thus dominance is rather an absurd word to use I would call it redemption since it is going well at least like it used to, since the moment it hit $1,4k in 2017 it suddenly goes down then in 2019 the highest is $800 then it slowly went downwards and never really had a chance to go back from the same level as those years.

[pixie85]

That is no dominance, the fact that ETH continued to go down has been bothering since the moment it hit a certain point it goes down as fast and goes lower than the recent ceiling, thus dominance is rather an absurd word to use I would call it redemption since it is going well at least like it used to, since the moment it hit $1,4k in 2017 it suddenly goes down then in 2019 the highest is $800 then it slowly went downwards and never really had a chance to go back from the same level as those years.

I wrote about dominance in reference to the market cap. It's still dominating the altcoin market despite the losses.
XRP with the second market cap among altcoins barely has 30% of ETH in that matter it is dominance for sure.

We can argue that market cap doesn't mean anything because it really doesn't, but it is an indicator many people watch and one that ranks coins.

[Sanitough]

As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL

Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".

The whale could manipulate the market but bitcoin is not dying or will not die.

The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.

ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.

ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?

You are right, bitcoin falls, ETH falls or the rest of the coins falls, that's what we have seen before the price started to recover again.
Currently, bitcoin dominance is 57%, that's still huge compared to ETH which only has 12%, so even if ETH dominance will rise, it can never get close to bitcoin's dominance as it's not only ETH that has rise, lots of coins as well.

[Ridwan Fauzi]

The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.

Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.

[Kelvinid]

The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.

No strategy will work for this. The market still never shows strong market resistance in which we could expect Bullish but that seemed hopeless and not a thing we have to expect this time. But I was not thinking also that we get back to 4 digits instead of keeping at above $10k until we end this year.

Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.

Warren Buffet? You better not to listen with him coz there is no truthfulness with his words when talking about crypto. He's dragging only to hell than saying good for it. Besides, if that is true, he's not only a bag holder and that means that even he sold his Bitcoin (if he has) won't certainly give a huge impact on the price.

[lepbagong]

The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.

Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.

there is still a long time for bitcoin to make improvements and the possibility of going up and down will continue and this is the umpteenth time bitcoin has experienced this, because the momentum for bitcoin to move up has not happened, which is for sure next year.

opportunity for short-term investment if you want to run because indeed bitcoin will continue to move like yesterday for several times, and at the end of the year may start to stabilize. There are still 3 months left and the possibility of ups and downs will continue to occur rapidly.

[el kaka22]

I am pretty sure that all the wait for the bitcoin halving craze wasn't for today, that can't happen this quickly, I know it has been a few months and people have been expecting a rise because of that reason, however that is not logical to think like that because halving is not something that changes prices instantly, it is a long term thing. Think of it like lower inflation, it is a good thing, with lower inflation your money keeps its value longer, but it is not one time quick change, it is a long term years thing.

Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.

[Silberman]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation. I don't think that the ETH topic about this so called flippening will come back though. We know that it's not going to happen and ETH will not get close to BTC as far as price goes. 40%-50% dominance of bitcoin? doesn't matter. It might be losing some grip, but it will be somewhat stable around that range.

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

[LUCKMCFLY]

Bitcoin will always be the leading influencing factor in the market, if bitcoin goes down like this, ETH rises, it will fall anyway, because the only one that has a life of its own is bitcoin, both ETH and any altcoin will always depend on the movements of bitcoin. There are exceptions, there are some currencies that survive from the pump and dump, but the price of bitcoin influences the same way.

[Yaunfitda]

Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!

LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.

I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation. I don't think that the ETH topic about this so called flippening will come back though. We know that it's not going to happen and ETH will not get close to BTC as far as price goes. 40%-50% dominance of bitcoin? doesn't matter. It might be losing some grip, but it will be somewhat stable around that range.

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

[maydna]

I am pretty sure that all the wait for the bitcoin halving craze wasn't for today, that can't happen this quickly, I know it has been a few months and people have been expecting a rise because of that reason, however that is not logical to think like that because halving is not something that changes prices instantly, it is a long term thing. Think of it like lower inflation, it is a good thing, with lower inflation your money keeps its value longer, but it is not one time quick change, it is a long term years thing.

Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.

If you analysis the bitcoin and altcoin market is moving good after the bitcoin halving. There will be moments when there will be some correction but overall the market trend is positive. By the end of 2021, we shall be see all time high of both bitcoins and altcoins.

I see that since this year, the bitcoin and altcoin market slowly making the right movements, and it prove from the increasing of the bitcoin and altcoin price. No matter if the price is up and down, and sometimes down deeper, but the price will be back to the high price. Perhaps, what you say will become true at the end of the next year, but I hope that bitcoin will pass more than $15k by the end of this year. If that can happen, we might get another best moment to sell bitcoin at the new ATH after waiting for a long time.

[gabbie2010]

Recent price drop is an excellent opportunity to get some ethereum. This could be your last chance. I dont think that is a drop down. Probably a long waited correction (market can not just grow all the time). I dont call to buy now, but placing smart buy orders will be wise.

I believed ETH had already dipped or dropped down at $318+ those who bought at that zone are now profitable indeed a great buying opportunity at that zone presently the price stood at $366 maybe heading to $407+ as the next resistance, the pumping had already commenced any pullback or correction again means another buying opportunity had unveil itself although the movement of ETH is subject to the performance of Bitcoin in the market if BTC pumps well ETH will also experience growth.

[jostorres]

Honestly I love eth but I do not understand people who think it will go above bitcoin at the same time neither. Why are you considering success depending on something elses failure? What if bitcoin drops so much that ethereum has a shot at going above it? Would that be good? I believe that wouldn't be good at all, it would in fact be very very bad for the crypto world, which means we should want ethereum to stay at second while both eth and btc going up x10 if they can, that would be awesome.

Instead of wanting to pass bitcoin, ethereum holders should want both btc and eth to go as high as possible to not only make them profit but also make everyone else profit. This ETH 2.0 will probably happen around when halving will be a year old, so I guess they can both go very high next May or June.

[Silberman]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

[stomachgrowls]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

People do see this market of course as an investment and profit making is the main priority in spite of lacking knowledge on how market works.They do only realize when they do lost their investment just because they
do let theirselves fall into the hype.

Im not really minding that much when it comes to dominance of other coins or alts because in the end of the line they would just be accumulating btc and do leave the alt market once again.

The market normally had flipping moment.We might see it is high for today and the situation is different on tomorrow and the cycle repeats.

[Jating]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.

So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.

[Silberman]

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.

So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.

I do not have a problem with that scenario, personally I do not like bubbles because the effects on the market are massive and it affects not only bad coins but good coins as well, but at the same time I understand this is inevitable, people are always trying to find the next big thing in the market that they believe somehow will replace bitcoin not understanding that those dreams are for the most part impossible to realize as the majority of transactions involving a real exchange of products and services involve bitcoin and no other coin.

[Ayiranorea]

Bitcoin has crossed $11500, and now it seems to fluctuate within a minor margin. The growth continues, together is the growth of ethereum. When it comes to ethereum, it stands next to bitcoin in terms of dominance level. Both are highly expected assets for the year 2021. From the DEFI projects data 98% of the assets transactions of DEFI tokens were through the ethereum network. This itself keeps the network towards growth, because most people have stated the future is much connected to DEFI.