BTC Dominance 70.4% in CoinMarketCap. Do I need to exchange BTC to ETH?

[Lucius]

I understand that people want to profit one way or another, but I don’t understand why they are looking for an alternative to Bitcoin?

If we go back to 2017 and the time when BTC reached almost $20 000 we can see that this is the time when ETH reached its (for now) ATH which is according to CMC $1432. At the moment, the price of 1 BTC is about $34 000, and the price of 1 ETH is slightly less than $900 - which means that it is about $500 less than its last ATH.


greentech2, i think you should try and go full to altcoins, just don’t cry like all those who lost almost everything during 2018/19.

[exstasie]

I understand that people want to profit one way or another, but I don’t understand why they are looking for an alternative to Bitcoin?

Ethereum is not an alternative to Bitcoin. That's what a lot of Bitcoin maximalist types don't get. Bitcoin will never be able to integrate all of Ethereum's features. At best, those features will be limited to sidechains and other protocols like that, which will greatly limit network effect.

Even if similar smart contract capabilities ever become possible in Bitcoin, Ethereum has a massive first mover advantage. Dethroning it would be like dethroning Bitcoin in the digital gold niche.

That's my take anyway. I'm not personally interested in using Ethereum for much besides DEX trading, but I do think it has great potential utility and network effect. That's being priced in by the market.

[tbct_mt2]

I understand that people want to profit one way or another, but I don’t understand why they are looking for an alternative to Bitcoin?

They want something cheaper than bitcoin. They are fear of bitcoin when price is above $15,000, then $18,000 and now $33,000. They find cheaper alternatives and think that with cheaper alternatives, they can have bigger probability to get some profits with less risks.

They are wrong, totally wrong. Investments in alternative cryptocurrency is more risky but with less profit in the long run. In the other words, bigger risks and bigger losses. Here I am talking about the top altcoins (have big communities, active developments and some sort of adoption), and I am not talking about shit tokens or scam projects.

But top altcoins, what are we witnessing drama and free falls on Ripple, Stellar, DASH, etc in late of 2020?

[GreatArkansas]

It seems like the 70+ level was rejected and I believe that this was the reason why we saw recently a huge pump for some altcoins, like Ethereum.
If you can check the August 2019, there you saw also the rejection from same level now.
So what I am speculating on Bitcoin now is, Bitcoin will do sideways or dump, then alt season will start?
It's still difficult, since there are still lot of buyers for Bitcoin even how expensive now.

[maydna]

~snip~

Bitcoin won't be able to rise forever and when it stops the ride, altcoins will move.
Ethereum: https://coinmarketcap.com/currencies/ethereum/
Bitcoin: https://coinmarketcap.com/currencies/ethereum/

I see Ethereum gets bigger profit than bitcoin in USDT. Ethereum rises in ETH/BTC and in ETH/USDT pairs but it is not true for most of altcoins on the market. Ethereum rises in USDT is supported by bitcoin rises in USDT. 1 BTC is 1 BTC forever but 1 ETH is 0.017 BTC in January 2020 and now is 0.026 BTC.

Yes, it is right. But at this moment, we can enjoy the highest price which bitcoin can hit. I know that the price will stop the ride and if that happens, the price will adjust to the lower price, but I am not expecting to see what we already got in a few years ago. I hope that if the bitcoin price stops increase, the altcoin will start to rise higher, and I guess that some altcoin already rises in USDT. For ethereum, I am sure 1 ETH will be more than 0.03 btc, and even the price can reach to 0.04 btc in the future.

[WinBitcoins.Casino]

BTC Dominance is 70.4% in the CoinMarketCap. BTC is ATH almost $30K. ETH is only $737. Do I need to trade ETH/BTC to ETH to get more ETH? In the future the percentage gain in ETH is more than BTC.  What do you think?  Thanks.

This should never be done. Do not hop from one to another. Patience is the key to success.

[pooya87]

Altcoins without an exception are only good short term options and only whenever bitcoin price becomes stable. It may be even a short time of stability like a day or two before they are pumped but that would be enough in many cases because traders don't want to stay in one place and whenever bitcoin market calms down a little (like the past 30 hours) they switch to pumping shitcoins right away. As we can see ETH got pumped the day bitcoin price started slowing down a little and with some fake news that initiated the pump. There are lots of other similar shitcoins that are getting pumped over the past 24 hours too. Some of the smaller ones are getting pumped a lot more than the big altcoins on top.

What you have to do is to learn how to read the market and make the moves temporarily (before the dump comes) to take the maximum amount of profit before bitcoin starts rising again and altcoins dump.

[palle11]

It seems like the 70+ level was rejected and I believe that this was the reason why we saw recently a huge pump for some altcoins, like Ethereum.
If you can check the August 2019, there you saw also the rejection from same level now.
So what I am speculating on Bitcoin now is, Bitcoin will do sideways or dump, then alt season will start?
It's still difficult, since there are still lot of buyers for Bitcoin even how expensive now.

I think one is better of now when you hodl  etheruem. That rejection you sighted could make a panic sell begin to build up and gradually shielding out of btc can follow which will lead to a slow movement in the price of bitcoin but volatility will be transfered to etheruem and other good altcoins and that can start the altcoin bull. This was how it happened also in 2017 bitcoin bull. The bull for altcoin was started by etheruem in the past three year and currently, etheruem has touched the 1000 price, more bull can show up any time now especially as the 2.0 is more in the news.

[Silberman]

BTC Dominance is 70.4% in the CoinMarketCap. BTC is ATH almost $30K. ETH is only $737. Do I need to trade ETH/BTC to ETH to get more ETH? In the future the percentage gain in ETH is more than BTC.  What do you think?  Thanks.

You don't need to exchange your bitcoin to the ethereum and you must keep it in your bitcoin form. Bitcoin has more possibility to go even higher than this time. We are not yet reaching the peak price of bitcoin.
When you are holding ethereum right now and that means if you are also loosing your value dude.
Just think about that when bitcoin goes even higher and you will get more ethereum as ethereum is quite stable right now.

Not only that the growth in ethereum strikes me as fake, after all when all the attention is in bitcoin who in his right mind is buying ethereum? Long term bitcoin holders are not doing it and institutional investors are not doing it either so at best the only ones that are buying that coin are speculators trying to score an even bigger profit and while that is a possibility there is also a big chance that you invest at the wrong time in ethereum and your losses become massive.

[MCobian]

Now Bitcoin dominance is down to 68% and Bitcoin price is correcting to $ 30,000. Meanwhile, the price of Ethereum has gone up to $ 1000
and I am sure that in a few weeks Ethereum will return to the ATH price of $ 1400. With these data, it shows that exchanging BTC to ETH is
necessary now, if you want to get profit from ETH. But that doesn't mean all the BTC we have will convert to ETH, because I believe Bitcoin
can still go up again. Therefore, we still have to store Bitcoin, so convert about 30% of our BTC into ETH.

[tbct_mt2]

Now Bitcoin dominance is down to 68% and Bitcoin price is correcting to $ 30,000. Meanwhile, the price of Ethereum has gone up to $ 1000
and I am sure that in a few weeks Ethereum will return to the ATH price of $ 1400. With these data, it shows that exchanging BTC to ETH is
necessary now, if you want to get profit from ETH. But that doesn't mean all the BTC we have will convert to ETH, because I believe Bitcoin
can still go up again. Therefore, we still have to store Bitcoin, so convert about 30% of our BTC into ETH.

What happened? Ethereum climbs up to its all time high. It is a very well rise from Ethereum after it retested the double bottom. It is amazing rise if consider how low the price of Ethereum in ETH/BTC is now. 0.03348 BTC for one Ethereum and the price is higher than $1100.

The retest of all time high from Ethereum can trigger the altcoin season in next few weeks.

[Lucius]

What happened?

Greedy people always want more, and suddenly it's not enough for them that the price of BTC is a record high, so they decided to use it to pump up some shitcoins on which they will make extra profit. But honestly it doesn't surprise me at all - 90% of everyone who is involved in cryptocurrencies in some way is only interested in profit.

[jaberwock]

Altcoins without an exception are only good short term options and only whenever bitcoin price becomes stable. It may be even a short time of stability like a day or two before they are pumped but that would be enough in many cases because traders don't want to stay in one place and whenever bitcoin market calms down a little (like the past 30 hours) they switch to pumping shitcoins right away. As we can see ETH got pumped the day bitcoin price started slowing down a little and with some fake news that initiated the pump. There are lots of other similar shitcoins that are getting pumped over the past 24 hours too. Some of the smaller ones are getting pumped a lot more than the big altcoins on top.

What you have to do is to learn how to read the market and make the moves temporarily (before the dump comes) to take the maximum amount of profit before bitcoin starts rising again and altcoins dump.

But in my experience, altcoins are awesome investments no matter what, they are good long term, they are good short term, they are good at any term. You want short term? Ethereum went up 20% just today, you want long term? Ethereum went up 5x times higher in 2020. As you can see it went up both in ALL of 2020, but it has also went up in the last 24 hours as well, both long term and short term it was something profitable.

Basically it all depends on which coin you pick, if you picked ethereum either last year or yesterday you made profit no matter what, however if you picked XRP you have lost money, probably a lot of money as well. If you are capable of picking the right coin, you are going to make a lot of money, but if you end up not picking the right coin, you are going to end up not making any type of money at all and even lose some.

[jrrsparkles]

BTC Dominance is 70.4% in the CoinMarketCap. BTC is ATH almost $30K. ETH is only $737. Do I need to trade ETH/BTC to ETH to get more ETH? In the future the percentage gain in ETH is more than BTC.  What do you think?  Thanks.

If you did what you actually asked then you will be in 50% right now but it seems you didn't replied anything after you asked. Actually giving value to dominance is not worth most of the time but probably at the peak prices it may worth but not sure in my opinion. I didn't do any conversion, didn't made any transaction for a while so bitcoin itself gave me huge profits so din't bothered about the ethereum now...

[exstasie]

Greedy people always want more, and suddenly it's not enough for them that the price of BTC is a record high, so they decided to use it to pump up some shitcoins on which they will make extra profit. But honestly it doesn't surprise me at all - 90% of everyone who is involved in cryptocurrencies in some way is only interested in profit.

I know greed is a bad look, but it's a good thing. It drives exponential Bitcoin adoption. Watching BTC surge in the 2013 bubble and chasing after those profits is why I'm here today. I'm not going to lie and say it was for the technology. And like so many others, I chased altcoins early on because I thought I had missed the boat with Bitcoin too.

Over time, it became less about the profits and more about the financial freedom and utility. But the profits are a nice byproduct too.

[cryptolord2077]

It depends on what goals you are pursuing. If you want to maximize profits, then there is every chance that in the coming days Ethereum will be able to beat its ATH, after which I would prefer to return the funds back to BTC. If you want to keep the value of your bitcoins, then it will be enough to convert them into stable coins, any of your choice.

[Kelvinid]

As many say, it was you to decide but what I take to this, I have to keep half into altcoins. It is really hard to put hundreds of eggs in one basket, we need to be practical and in the same way, we need assurance for not having a losing end. I simply don't look into how Bitcoin dominating the market but also considering the other opportunity in altcoins especially when they started to grow. It's gonna be some blowout that might be happening in the coming days as the bullish trend continues stronger.

[hd49728]

The Dominance of bitcoin in daily candle bounces back but in weekly candle it would be pulled back very much for its current level. Same for monthly candle but the probability of pull back in weekly candle is higher and more seriously.

It will be a warming up time for altcoin and they are preparing for their altcoin season.

https://www.blockchaincenter.net/altcoin-season-index/
Watch Bitcoin dominance on Trading view: CRYPTOCAP:BTC.D

[michellee]

It depends on what goals you are pursuing. If you want to maximize profits, then there is every chance that in the coming days Ethereum will be able to beat its ATH, after which I would prefer to return the funds back to BTC. If you want to keep the value of your bitcoins, then it will be enough to convert them into stable coins, any of your choice.

No, I do not think so. Even if you convert your bitcoin to ethereum, you still lose a few satoshi. Just try to calculate it using converting tools, and you will see how much you will lose. Unless the ethereum price can jump more than two times, you will not make a nice profit. If the ethereum price can jump to $1,500-$2,000 in the short term, and the bitcoin price is still stable at $38k, you can expect to profit in bitcoin. I prefer to stay at bitcoin, but that will be up to you

[Silberman]

The Dominance of bitcoin in daily candle bounces back but in weekly candle it would be pulled back very much for its current level. Same for monthly candle but the probability of pull back in weekly candle is higher and more seriously.

It will be a warming up time for altcoin and they are preparing for their altcoin season.

https://www.blockchaincenter.net/altcoin-season-index/
Watch Bitcoin dominance on Trading view: CRYPTOCAP:BTC.D

I am sorry to say that I simply do not see it, altcoins already had their season when the DeFi hype hit the market, so I hope that people interested in altcoins took the time to make profits when that happened, right now is the turn of bitcoin and while altcoins may seem to be recovering you will see that while their price in dollars is growing their price against bitcoin is either remaining stagnant or going down, one of the exceptions to this is ethereum but compared to what happened during 2017 the price of ethereum in terms of BTC is way smaller than what it was in those days.