Bitcoin dominance 70%?

[alt_expert]

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

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[XZERO1]

Bitcoin dominance could go over 80% only if Bitcoin goes for over $50k or if Bitcoin crashes really hard as many traders would panic sell their shitcoins in the fear of them getting dumped hard.

That being said I don't think those are very likely scenarios and I personally think Bitcoin dominance will stay under 80%, ATH for Bitcoin dominance for these past couple months was around 75%:

[mk4]

Realistically speaking, Bitcoin's dominance actually should be higher than 80%. Knowing that with A LOT of altcoins, most of the total supply(we're talking 50-80%+) are actually held by the development teams, which makes their total "market cap" really inaccurate and unfairly calculated.

Going with the CoinMarketCap Bitcoin dominance metric though, I think it's kinda unlikely for Bitcoin's "dominance" to go as high as 80%. The cryptocurrency markets as a whole is still a huge casino-ish market, and I really don't see that going away any time soon.

[Poker Player]

I don't worry about dominance too much. Bitcoin market cap vs Ethereum one or some specific coins might be worth checking every now and then but Bitcoin vs the total rest of shitcurrencies is not that important in my opinion.

[hatshepsut93]

Ethereum's share of the market is 13% right now, it could drop to 10% like it was not long ago, but it's unlikely to go any deeper. That already puts Bitcoin's realistic short-term share at 90% max. Tether has 2.5% of the market - if it won't implode, it could only continue taking more and more of the market as more USDT is printed. Aside from these two coins, I don't see any other coin that fundamentally should be as high as it is now. The rest of the market should amount for 2-3% at most. So, Bitcoin could achieve 80% dominance if alts crashed really hard, but so far there's still a lot of people willing to gamble on alts, so it's probably not gonna happen, no matter how high Bitcoin gets.

[alt_expert]

ok guys,
thx for reply

[Lorence.xD]

I don't worry about dominance too much. Bitcoin market cap vs Ethereum one or some specific coins might be worth checking every now and then but Bitcoin vs the total rest of shitcurrencies is not that important in my opinion.

What you should worry is whether you get a profit from selling your coins at a certain price point. I still haven't done any trading so I do not mind that the dominance goes whichever percentage. I do agree with bitcoin against the other shitcoins not that important because I see those shitcoins as leeches that mooches off the benefit when bitcoin prices go high.

[OcTradism]

The dominnance of bitcoin is lower than it actually is and should be. With many new DeFi projects were born in 2020 and 2021, with huge total supplies and current circulating supplies, they contribute a huge total marketcap that pull the bitcoin dominance back.

Total marketcap from DeFi projects are higher than what they should be too as price of DeFi tokens are valued higher than their intrinsic value. Their price will be pulled back, corrected to very lower price. Even bitcoin won't rise more than $42,000, its dominance will also have chance to rise higher. If DeFi tokens all fall down a lot in next months.

[virasog]

The dominnance of bitcoin is lower than it actually is and should be. With many new DeFi projects were born in 2020 and 2021, with huge total supplies and current circulating supplies, they contribute a huge total marketcap that pull the bitcoin dominance back.

Total marketcap from DeFi projects are higher than what they should be too as price of DeFi tokens are valued higher than their intrinsic value. Their price will be pulled back, corrected to very lower price. Even bitcoin won't rise more than $42,000, its dominance will also have chance to rise higher. If DeFi tokens all fall down a lot in next months.

Bitcoin dominance is now falling from the critical support and therefore we are seeing this massive pump in the alts. We have a mini bull run here where all the alts will pump until we see big movement in bitcoin either in upwards direction or downward direction.

[boyptc]

It can go as high as 80% in the future. We don't know when but if that time comes then we will have lesser altcoins by that time.

With what I mean lesser, most investors are no longer investing to any altcoin in the marker but remains at the top alts.

IIRC, the highest was 71.8%, cmiiw. So hitting 80% dominance is very possible.

[pooya87]

Bitcoin dominance is really high
will go up to 80%?

The number you are looking is not bitcoin's "dominance", it is simply a ratio of bitcoin's market capitalization and the total market capitalization of thousands of shitcoins.
Since market cap is calculated simply by multiply supply by price and shitcoins can easily create any supply value they want and they have done that, the total supply (hence the total market cap, ie the denominator) is gigantic hence the ratio is close to 70%.

As new shitcoins are created (like the ICO mania of 2017) or the existing shitcoins have or create large amounts of supply (like the 72 million premine of ETH, or the out of thin air issuance of XRP) the denominator grows and the ratio goes down. But as these shitcoins inevitably get dumped their price*supply aka market cap goes down and the ratio goes back up again.

[20kevin20]

Once the alt season begins, expect it to drop. It almost always happens this way and the more (and the larger) altcoins we have, the more volatvile BTC's dominance will be. But remember this is just a relative number because CMC chooses to only show the coins they want .. and they're mostly shitcoins anyway..

[Leviathan.007]

Actually in my own idea the dominance could and should be much higher than 70 percent. However, since we are heading to the alt season, we were expecting falling of the bitcoin dominance. on the ta side of the story, the dominance is fallen down to the key support area. I believe that's the relation between bitcoin dominance and the alt/shit coins.

[anonyart]

Actually in my own idea the dominance could and should be much higher than 70 percent. However, since we are heading to the alt season, we were expecting falling of the bitcoin dominance. on the ta side of the story, the dominance is fallen down to the key support area. I believe that's the relation between bitcoin dominance and the alt/shit coins.

This is true, the dominance should be 90% bitcoin, a lot of shitcoin in the marketcap. too much

[Wysi]

Bitcoin's dominance will change as per the market situation and yesterday it was around 68.6% approximately, if Bitcoin pumps further then more users will shift their altcoin holdings into bitcoin thus increasing the market dominance and vice versa, but we also need to understand that crypto is more than just bitcoin and it's not a good sign for some trustable altcoins if they don't even reach half way in terms of market dominance. This proves that Bitcoin cannot be dethroned as king of crypto.

[Swordsoffreedom]

If you look closely and are able to understand reality, you will see that only one coin is dominating the entire crypto market. That is Bitcoin, 80%, 70% whatever you can say, but Bitcoin is controlling the entire crypto market. Every shitcoin other coins just following the pattern of Bitcoin like his Dog. Every single movement of BTC is copied by shitcoin ETH, BCH, NEO ....

[seramania]

it is natural to see the potential of bitcoin now is very extraordinary and the price of bitcoin is high. although bitcoin dominance will definitely experience a correction against altcoins, bitcoin is still too strong in that position, so my advice is to stay positive and buy bitcoin

[malevolent]

The number you are looking is not bitcoin's "dominance", it is simply a ratio of bitcoin's market capitalization and the total market capitalization of thousands of shitcoins.
Since market cap is calculated simply by multiply supply by price and shitcoins can easily create any supply value they want and they have done that, the total supply (hence the total market cap, ie the denominator) is gigantic hence the ratio is close to 70%.

As new shitcoins are created (like the ICO mania of 2017) or the existing shitcoins have or create large amounts of supply (like the 72 million premine of ETH, or the out of thin air issuance of XRP) the denominator grows and the ratio goes down. But as these shitcoins inevitably get dumped their price*supply aka market cap goes down and the ratio goes back up again.

Coinmarketcap does a pretty good job at separating circulating supply from total supple to arrive at the true/real/effective market capitalization.

https://support.coinmarketcap.com/hc/en-us/articles/360043396252-Supply-Circulating-Total-Max-#circulating_supply

[cyriljundos]

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

as of last months bitcoin dominance has risen up to  70% and still way to go to reach the possible 80-90% dominance. If bitcoin price will not go down this month probably bitcoins will reach higher than $40000/Btc and it would be good for investor that they may gain more profit after investing in bitcoin.

[NeverSop]

hey guys
Bitcoin dominance is really high
will go up to 80%?
let me know what you think and if any of this makes sense XD

Since I entered the cryptocurrency world until now. I found that bitcoin's capitalization has always accounted for more than 70% of the total cryptocurrency market cap. That said, bitcoin is special to this school. Low supply, coupled with the catastrophic collapse from covid-19, I think bitcoin will continue to rise and create miracles this year.