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[Symmetrick]

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[100bitcoin]

Today Bitcoin finally broke through the mark of $14000.  

After such a long time.

What was that? Short-term manipulation or service glitches

Manipulation by whales, as usual.

[Bttzed03]

It must have *been* a glitch. I'm looking at trading view's BTC dominance chart right now and lowest it has been was around 57% and that was last month (Sept) https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

Even if you don't rely on that info, you can probably guess because altcoins haven't been pumping lately. It's the opposite actually.

[EdenHazard]

It must have a glitch. I'm looking at trading view's BTC dominance chart right now and lowest it has been was around 57% and that was last month (Sept) https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

Even if you don't rely on that info, you can probably guess because altcoins haven't been pumping lately. It's the opposite actually.

Yupp the last time bitcoin dominance crossed below 50% it was last year on August.

It's just doesn't makes sense the bitcoin dominance dropped critically in short time , not even when the pandemic hit us.
So far so good the bull run for bitcoin getting excited after we break $14,000 mark , 5 % rose today that's impressive even with 1.3% daily in average since last month from just $10.200 to the current mark $13,800 we should reach $20k by the end of the year.
Hail bitcoin!

[Yaunfitda]

It must have a glitch. I'm looking at trading view's BTC dominance chart right now and lowest it has been was around 57% and that was last month (Sept) https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

Even if you don't rely on that info, you can probably guess because altcoins haven't been pumping lately. It's the opposite actually.

Yupp the last time bitcoin dominance crossed below 50% it was last year on August.

It's just doesn't makes sense the bitcoin dominance dropped critically in short time , not even when the pandemic hit us.
So far so good the bull run for bitcoin getting excited after we break $14,000 mark , 5 % rose today that's impressive even with 1.3% daily in average since last month from just $10.200 to the current mark $13,800 we should reach $20k by the end of the year.
Hail bitcoin!

Yes, the dominance of bitcoin will be affected or goes down if altcoin goes up, but this is not the case. So probably there's a glitch or something went wrong with the calculation. And I don't see the price breaking $14k as well, the highest that I saw is around $13,8xx, but it's close enough. And as per CMC the dominance is still above 60%.

[Coin_trader]

@Ratimov, Can you provide a shorter time frame like hourly or weekly? I can't access your when I click your tradingview link, But this scenario already occur before especially on longer timeframe like monthly, There's sometime a glitch whenever BTC showing a huge influx on its price. You can clearly see the right graph when you zoom in the chart.

There's no way that BTC dominance will drop below 40% again since most of the coin in top 100 is not showing a great price action upward.

[ultrloa]

It must have a glitch. I'm looking at trading view's BTC dominance chart right now and lowest it has been was around 57% and that was last month (Sept) https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

Even if you don't rely on that info, you can probably guess because altcoins haven't been pumping lately. It's the opposite actually.

Yupp the last time bitcoin dominance crossed below 50% it was last year on August.

It's just doesn't makes sense the bitcoin dominance dropped critically in short time , not even when the pandemic hit us.
So far so good the bull run for bitcoin getting excited after we break $14,000 mark , 5 % rose today that's impressive even with 1.3% daily in average since last month from just $10.200 to the current mark $13,800 we should reach $20k by the end of the year.
Hail bitcoin!

Yes, the dominance of bitcoin will be affected or goes down if altcoin goes up, but this is not the case. So probably there's a glitch or something went wrong with the calculation. And I don't see the price breaking $14k as well, the highest that I saw is around $13,8xx, but it's close enough. And as per CMC the dominance is still above 60%.

I also think it's glitch but we should not worry about that since for sure this current milestone will bring hype and possibly could add more pump in next following days but we still need to watch the market since there are possibilities that this pump is manipulated by whales and it's good to secure when some certain instance came badly.

[Lorence.xD]

Looking at the graph overtime, the increase in prices of the present is dwarfed by the past prices. I feel dread honestly that a downward trend over the long term market price of bitcoin. It feels like the coming years, the lowest price of the year might be the highest price of the future. It is just a dreadful and paranoid thinking but there seems to be a pattern.

[friends1980]

Something's not quite right here. I can't imagine any other reason except for a small bug, because I couldn't think of any other logical explanation at all. Let's have a look in a few hours, but I'm keeping an eye on this one too. (edit: I think we shouldn't be too afraid of possible panic selling because of this, though )

[Nalbo]

It's certainly a glitch. I remember this happening once in past. Actually an alt went on swap with 1000:1 and their algo kept updating the price but didn't updated the supply. That made the total marketcap of that coin several times higher than bitcoin for some hours causing weird graphs. I think similar could have happened there. They take their data from different API and if there was a bit of problem with any of those, it could so erratic graphs.

[OcTradism]

1-hour graph:

The chart reminds me about margin trades and crashes or cascade effects with such a classic candle.

After a very long time, whale was killed with a 3x leverage trade for the Bitcoin domination when it was crashed more than 30%. I did not know there is a trade for Bitcoin domination.  

[stompix]

It's certainly a glitch. I remember this happening once in past. Actually an alt went on swap with 1000:1 and their algo kept updating the price but didn't updated the supply. That made the total marketcap of that coin several times higher than bitcoin for some hours causing weird graphs.

Most likely this has happened.
If you have the patience to go through all the altcoins that are counted there and check their market cap you might find the one that caused the glitch, other websites including coinmarketcap and coingecko don't show anything like this so it might be caused by an altcoin changing their token supply or a glitch when the website isn't receiving data for a certain coin.

Besides, let's look at the prices of the top coins, there is none who could pose that threat, and if we check the last 24h trend...they are all in red compared to BTC, so no, that thing never happened outside that chart.

[erikoy]

Yeah something did happen to bitcoin market as shown in the graph. This must be something about glitch to that certain platform you check. I check also other site like coinmarketcap.com and shows nothing.

It really hard to understand in the world of cryptocurrency  for sometimes it is magical.

Anyway, the best part is that bitcoin market price increase and this is a good sign that we are heading towards a brighter future for bitcoin. Probably more wanted to own bitcoin now because they see its worth already.

[virasog]

Normally when the bitcoin pumps and altcoins dump, the bitcoin dominance also increases. In situation, if bitcoin pumps and altcoins also pumps, only then the bitcoin dominance can decrease in this scenario. I am sure it was a glitch or a very short term manipulation by the whales.

[palle11]

In situation, if bitcoin pumps and altcoins also pumps, only then the bitcoin dominance can decrease in this scenario. I am sure it was a glitch or a very short term manipulation by the whales.

This isn't agreeable to me in the way you said it. Bitcoin is always a dominant coin at all the time. In 2017 , bitcoin was high up to $20,000 and etheruem being the second was around $1,000+ , then you see the difference? I always see bitcoin as a dominant coin.

[casperBGD]

Normally when the bitcoin pumps and altcoins dump, the bitcoin dominance also increases. In situation, if bitcoin pumps and altcoins also pumps, only then the bitcoin dominance can decrease in this scenario. I am sure it was a glitch or a very short term manipulation by the whales.

it must be a glitch, cannot be manipulation by whales, since they would have doubled all altcoins value to reach this manipulation, it is impossible for this short time

look at that this way
BTC marketcap - 255 billion
Total crypto marketcap - 405 billion
that leaves as with Altcoins marketcap - 160 billion

and for BTC dominance to be drawn from 62% to 42%, Total crypto marketcap (without BTC marketcap changed (and that was the case)) has to be 635 billion, or Altcoins marketcap has to rise to 380 billion

so, Altcoins marketcap has to rise from 160 to 380 and fall again to 160 within seconds, it is impossible in any circumstances - for that to happen all altcoins should have more than doubled, and i did not see ETH on $1000

[hatshepsut93]

If Bitcoin's dominance was actually shaken by such big amount, meaning some altcoin(s) proportionally grew by the same amount,, you would have already been able to read about it on some crypto media, as it would have been a major event. But since this chart comes from only one source and no one has reported anything similar, you can be sure that it's just a glitch in their system.

[Smartprofit]

This could have been a mistake. 

It is also possible that the methodology for calculating bitcoin dominance has changed.  For example, DCEP was briefly included in the calculation. 

I have only such explanations for this situation.

Recently, the price of bitcoins has been rising and the price of altcoins has been falling.

[pooya87]

What was that? Short-term manipulation or service glitches

does it even matter? you are not looking at dominance, it is simply the ration of bitcoin price * supply versus Σ (altcoin price * supply). so all it takes is for some shitcoin to be pumped a lot while having a huge supply which is pretty common, in fact every now and then we see a shitcoin come into higher "ranks" for a day or two that we haven't even heard the name of. and when we have more than 8000 shitcoins, it is easy for this ration swing wildly. the denominator here is a sum after all.

[Ryker1]

^[snip]
it must be a glitch, cannot be manipulation by whales,

Well, I must agree with the others that it was a glitched and whales doesn't have anything to do with it like manipulation because I did the same, -- I checked other sites but it doesn't show anything the trend is still consistent and I can say that bitcoin is still showing a good behavior as of the moment. And for now, since bitcoin remains steady during and after the economic recession due to pandemic we can say that better days are yet to come for us and for cryptocurrencies.