BTC losing its dominance big time

[bekti3]

Over time, they have been performing well in the market, so there is no harm in giving altcoins space for this month, and you should be able to prepare for a selection of altcoin that have promising potential. keep watching and take advantage of this altseason ..

[J1mb0]

78% Where did you get this? That aggregator probably doesn't have a lot of coins/tokens listed on it or it has a completely different way of computing. Coingecko has it at 53% while it's around 54% at Coinmarketcap.

Bitcoin has never lost its dominance in the cryptocurrency market, all altcoins operate around bitcoin.
Even though altcoins are doing well at the moment, bitcoin is still at the heart of the cryptocurrency market.

Market dominance is measured by market capitalization. It's true that most altcoins are still tied up to the BTC price movement but you cannot say it never lost some of its dominance when the data clearly say so.

Well, Bitcoin seems to be falling just a little bit because altcoins are thriving, but it's still king and no coin can challenge its dominance.

[lionheart78]

With some altcoin surging atm, I think Bitcoin somehow lost a little percentage of its dominance since the BTC market is currently stable at its price.  I think the word Big time is an exageration since BTC dominance hasn't fell that low.  That said, I still think that the current happening in the altcoin market is still under the pre-altcoin season bull run and may happen full blown at the later quarter of this year I guess.

[forexandcryptoauditor]

Even though the current picture shows reduction in dominance of BTC, i think its too long way for alts even foe eth to come near to it. 1 trillion market cap is not a joke and it took 11 years for btc to build it. So i think in near future its not possible.

[sana54210]

Bitcoin dominance keeps dropping mates  ,I think we are definitely in for altcoin bullish season starting from any time now, oops sorry it has already began lol but mind you it's never too late, I heard many missed the train in 2017 well here we are again, it's happening right under your nose, safe yourself some sorry later and take risks now

Bitcoin dominance is strong at 55% and I can say that it is definitely strong over 50% even better. The problem I have with this idea is that when bitcoin was dropping in dominance in 2018 that was around the time when alt season happened and bitcoin stayed same and it was easier to drop all those altcoins, because when you move money from bitcoin to all altcoins that is basically divided, so instead of having one 1 trillion dollar marketcap coin and people selling while others buying and trying to balance that, you are going to have 100+ coins with 10+ million dollars and that is going to be harder to control it.

This is why a crash is easier, when bitcoin goes down just 10%, you start to see alts going down 30%+ and that ignites the fire and suddenly you start to see a big crash coming. Which is why I am not a fan of altseason, let bitcoin go up and that causes alts go up in dollar value anyway.

[Sterbens]

let's take a closer look, and try to use it to analyze the potentially big pumping altcoin. now is the time for altcoin to develop and have been given a gap by bitcoin, so as much as possible with the quality of altcoin that is growing in a better direction, I really feel confident that it is time for altseason to start periodically. just see what altcoin will provide benefits when Bitcoin conditions are in calm water.

[xnuggets]

Choose your coins that are going to boom from the decrease of bitcoin dominance. Hence, we are far from a declining phase in the trading cycle. Altcoins for the win

[Kemarit]

As far as I can remember during the 2017's bullrun, Bitcoin's dominance is around 43%-45% and yet it reaches a new all time high. So I guess with 50% and up, we are still good, last 24 hours we touch $60,000 again, a indication that we are not losing momentum and could still go higher even if it's dominance is going down.

Some altcoins in the top 10-20 have really been on a massive tear, reaching it's all time high. But still with Bitcoin's rally, I'm sure there will be a time that investors are going to shift again to BTC.

[Twinkledoe]

Even though the current picture shows reduction in dominance of BTC, i think its too long way for alts even foe eth to come near to it. 1 trillion market cap is not a joke and it took 11 years for btc to build it. So i think in near future its not possible.

Also, just give a simple example on this situation, if you ask a noncrypto user if they know crypto? They will ask back, is it bitcoin? Most people associate crypto with bitcoin and not other alts. If you start mentioning other projects like ETH, DOGE or XRP, even if they are popular ones, ordinary people will not recognize them. Most are familiar with bitcoin, and they know about its existence, even if they don't know how to deal with it. So from outside perspectives, and not talking about certain numbers like its marketcap, bitcoin still dominates the crypto market.

[Bttzed03]

~
Well, Bitcoin seems to be falling just a little bit because altcoins are thriving, but it's still king and no coin can challenge its dominance.

What we're talking about here is the altcoins outperforming BTC in terms of price increase for a certain period of time and that can be clearly seen in the charts. Nobody is questioning BTC as the king or challenging its position as the no. 1 of cryptocurrency. Again, market dominance is decreasing.

[Mamun74]

I think bitcoin has never lost. Bitcoin is rising day by day and it will continue to rise pump.Hopefully, Bitcoin will touch 100k$ this year.So bitcoin is dominance in crypto market.

[Anonylz]

As far as I can remember during the 2017's bullrun, Bitcoin's dominance is around 43%-45% and yet it reaches a new all time high. So I guess with 50% and up, we are still good, last 24 hours we touch $60,000 again, a indication that we are not losing momentum and could still go higher even if it's dominance is going down.

Some altcoins in the top 10-20 have really been on a massive tear, reaching it's all time high. But still with Bitcoin's rally, I'm sure there will be a time that investors are going to shift again to BTC.

I don't even think there is a major shift yet from btc to alts otherwise it would have been game on for alts holders, agreed btc dominance has dropped a little (around 54.61% according to cmc) perhaps this is why many sites like yahoo finance thinking soon there will be another alts season, let's hope this drop is enough to trigger the alts season movement,
To me, I feel most of the new money coming in are on btc, so many institutions investing on btc not alts, maybe part of the reason why the so awaited alts season has a slow pace.

[Rikafip]

78% Where did you get this? That aggregator probably doesn't have a lot of coins/tokens listed on it or it has a completely different way of computing. Coingecko has it at 53% while it's around 54% at Coinmarketcap.

That graphics is taken from https://bitcoindominance.com/ and they calculate it a bit different. In their BTC dominance calculations they  include POW coins only, and without any of those ICOs or stablecoins. They include 12 of those (BTC, ETH, ETC, LTC, BSV, BCH,DOGE, DCR, BTG, DASH, XMR and BSV) so no wonder that BTC dominance is way higher acccording to them than it it on CMC, Coingecko, Tradingview or whatever else people are using.

Whether that's the right way to check dominance is debatable, but here are the explanations from their website why they exclude stablecoins and ICOs

Bitcoin Dominance excludes ICOs because they are each controlled and issued by a centralized entity and so therefore cannot act as hard money. Even if the ICO intends to be money, it cannot offer any improvement over the current fiat system of centralized banking and money printing.

Stablecoins have a very specific use in mind: Stablecoins act as on-ramps and off-ramps between fiat and cryptocurrencies and are just an extension of government controlled fiat money.

Because The Real Bitcoin Dominance Index is only interested in tracking which cryptocurrencies are capable of becoming global money replacements one day, stablecoins cannot be included since their value and purpose depends on fiat dollars existing.

Regarding BTC temporarily loosing dominance, it was kinda expected after hovering between 55-60k for some time. It will last for some time, some people will make shit load of money while even more will loose before all that profit goes back into BTC.Few altcoins will survive while others will die. Rinse and repeat.

[traderethereum]

I think bitcoin has never lost. Bitcoin is rising day by day and it will continue to rise pump.Hopefully, Bitcoin will touch 100k$ this year.So bitcoin is dominance in crypto market.

Hopefully, that can happen this year because bitcoin's support has become strong and people see bitcoin can be their new investment.
Maybe bitcoin will lose the price for a while after reaching the highest price, but that does not mean bitcoin will still going down because, after this bearish trend, bitcoin will go strong again and increase the price.
This time will be a good time for us to buy more bitcoin while bitcoin is at a bearish trend to buy bitcoin at a low price and after that, you only need to hold for a while.

[slaman29]

in fact it is true the dominance of bitcoin has dropped from about 70% to 54% but  we are in the moment of its all-time highs so it seems strange to me since that users look elsewhere and buy other altcoins, i think it will be only a temporary decline

It's not strange at all. People have been doing it ever since alts came out. The last time BTC dominance slipped was in 2017 when everyone thought ETH would finally defeat Bitcoin and take over. They called this the Flippening. Now ETH is only 50% higher than that ATH of the time, while Bitcoin is 300%. So dominance does not matter here.

[jesselui]

The decrease in bitcoin domination in the last week has reflected well on altcoins. The market has turned green and investors are happy. But be careful, bitcoin's dominance will rise again.

[Vishnu.Reang]

It is not surprising. Whenever there is an influx of new users, the market share of Bitcoin drops. And the most important thing that I have noticed is that this drop in Bitcoin market share started after the first stimulus checks were sent in the United States. According to various experts, anywhere from 5% to 10% of the stimulus checks were used for purchasing cryptocurrency (mostly by new investors). And in many cases these new investors went for altcoins instead of Bitcoins, and that explains the declining market dominance of BTC.

[kryptqnick]

Bitcoin dominance keeps dropping mates  ,I think we are definitely in for altcoin bullish season starting from any time now, oops sorry it has already began lol but mind you it's never too late, I heard many missed the train in 2017 well here we are again, it's happening right under your nose, safe yourself some sorry later and take risks now

Some altcoins have already experienced positive dynamics and some will probably join in as well. However, I think the change in BTC dominance is still minor to talk about a general tendency, and I don't think that there is anything similar to the 2017 altcoin boom happening in the near future. Back then, there were ambitious projects making big promises and people investing in ICOs due to FOMO. With people being disappointed after that time, I don't think that it's possible for altcoins to suddenly bloom again. Some of them might (Ethereum, Litecoin, Polkadot), but it's hard to predict the overall tendency now.

[ChiBitCTy]

Bitcoin dominance keeps dropping mates  ,I think we are definitely in for altcoin bullish season starting from any time now, oops sorry it has already began lol but mind you it's never too late, I heard many missed the train in 2017 well here we are again, it's happening right under your nose, safe yourself some sorry later and take risks now

This is just a bunch of nonsense.  Bitcoin is still far and away the most dominant coin.  There are so few coins worth a damn that when you're buying an Alt you've got about a 98% chance you're buying a huge pile of shit.  It amazes me how many people still think that all these altcoins have a legit shot at becoming something.  Don't get me wrong, there are a few..Monero and Ethereum for example, but there's very few outside of that. 

You mention 2017..well look what happened after that..bitcoin rose once again and Alts died for a long time and most never recovered.  Be smart, don't blow your money on shitty altcoins.

[7788bitcoin]

This is just a bunch of nonsense.  Bitcoin is still far and away the most dominant coin.  There are so few coins worth a damn that when you're buying an Alt you've got about a 98% chance you're buying a huge pile of shit.  It amazes me how many people still think that all these altcoins have a legit shot at becoming something.  Don't get me wrong, there are a few..Monero and Ethereum for example, but there's very few outside of that. 

You will hear these kind of chest bumping during every rally and then it will die down when the bear market catch up and it is going to be a recurring trend in the future as well  . One thing that cannot be neglected is that every shit coin in the market rallied and it is amazing to see how further people can go to pump all the shit coins as well.

You mention 2017..well look what happened after that..bitcoin rose once again and Alts died for a long time and most never recovered.  Be smart, don't blow your money on shitty altcoins.

Apart from the dead projects all the shit coins rallied this time and the pump groups are looking for shit coins to pump next  .