SquallLeonhart
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April 29, 2021, 02:36:25 PM |
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- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?
Your prediction seems practical but I guess it needs another one month of time to happen. Right now, bitcoin markets got stuck within 50k leg and also losing dominance in total crypto marketcap. Probably $60k to $70k leg may happen in May month along with significant improvement in bitcoin dominance in total crypto marketcap. As of now, bitcoin remains stagnant and altcoins dominate. Honestly I'm not following bitcoin dominance metric as I'm not giving any importance for it in my technical analysis. I am comfortable without considering it to generate accurate signals for my trading.
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Golftech
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April 29, 2021, 02:48:02 PM |
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- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?
Your prediction seems practical but I guess it needs another one month of time to happen. Right now, bitcoin markets got stuck within 50k leg and also losing dominance in total crypto marketcap. Probably $60k to $70k leg may happen in May month along with significant improvement in bitcoin dominance in total crypto marketcap. As of now, bitcoin remains stagnant and altcoins dominate. Honestly I'm not following bitcoin dominance metric as I'm not giving any importance for it in my technical analysis. I am comfortable without considering it to generate accurate signals for my trading. We never know what future will bring, but with how the market is moving I also see that the possibilities is really high, some break for Bitcoin then Alts will move then bounce for Bitcoin and we will see another try to hype for much higher value. It's all about trusting your assessment, your money your call..
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Coyster
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April 29, 2021, 03:04:20 PM |
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What I notice is when btc dominance is low and at that moment if btc crashes then it doesn't drag down alts too like it use to so its like btc and alts are not correlated any more in price.
That's what it seems atm, Bitcoin has been doing pretty bad in the past couple of days, in sharp contrast to altcoins like Ethereum for example that have been doing somewhat good, I'd not say alts and Bitcoin are no longer connected, and prolly this scenario has to occur for quite a while before we can lay claim to that, Bitcoin's dominance in the next few weeks will determine a lot for the crypto network.
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SaShiRaJaVu
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April 29, 2021, 04:02:30 PM |
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What's the lowest do you guys think BTC dominance will touch down to? 50% or lower? What i cannot understand is why is this a big deal now, there are thousands of coins and tokens in the market and if bitcoin is keeping a 50% dominance is because the rest of the market are just name sake considering the number of coins in existence. We have to let go of the obsession of the dominance if you are looking for the rest of the coins to rally as well. In the past i did care about the bitcoin dominance but now a days i rarely bother about that.
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sana54210
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April 29, 2021, 08:48:55 PM |
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Today, bitcoin's dominance has dropped below 50%. The last time the BTC dominance was at this level was 2 years ago, in April 2019. If the altcoin season continues, BTC's dominance should continue to decline, at the end of which the market will obviously turn bearish.
You mean bearish for bitcoin or bearish for alts? What I notice is when btc dominance is low and at that moment if btc crashes then it doesn't drag down alts too like it use to so its like btc and alts are not correlated any more in price. Just look at Ethereum now, still classed as an altcoin. Its chart looks like its independent now (not correlated to anything) and will rise or fall regardless of what bitcoin's price does. When bitcoin becomes too low on dominance that means bitcoin price is not doing good, and when bitcoin price is not doing too good, the price of alts will go down as well. It is not something that people do knowingly, it is just how the market works. First people end up buying bitcoin, which increases price of bitcoin, they people keep buying more and more and more bitcoin which increases the price of bitcoin so much that it reaches insane levels, last year price reached as low as 4k in march, it was peaked at 64k this year, that is 16 times increase and that is what made people start putting money into bitcoin, that happened just a month ago or so which dropped the bitcoin dominance. At the end of the day we are talking about people who thinking bitcoin may not go up too much anymore and chasing 3x 5x 10x type profits from alts, when they can't make that and when they go back to bitcoin, if they stay there everything is nice, if they do not then there is a problem.
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Maslate
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April 29, 2021, 09:07:17 PM |
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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.
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lixer
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April 29, 2021, 09:17:30 PM |
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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.
You contradict yourself. When people transfer their money from bitcoin to altcoins then bitcoin will dump, right? But, you need at the same time bitcoin will not dump so that altcoins will continue to increase, how it will be possible? Honestly I never consider bitcoin dominance as a significant factor for investing into altcoins or for shorting bitcoins. I just do both of them after spending long hours in my technical part alone. When we are good in technical analysis then we can simply ignore bitcoin dominance kind of non-significant comparing metrics.
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DigitalFox
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April 29, 2021, 09:22:29 PM |
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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH It's been just 2 weeks since the last ATH and the one before that was in March. I don't think this is a valid point for assessment.
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xiboothrezi
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April 29, 2021, 09:28:30 PM |
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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.
BTC dominance represents the level of global Bitcoin market demand, this is often used as a reference to determine market trends. As you explained, in general, if BTCd drops <50% then there is a chance that altcoins will increase in value. But we need to know, the market often moves with a certain rhythm: BTC prices increase followed by altcoins, BTC prices fall and altcoins rise, BTC prices fall and drag the altcoins, BTC prices tend to be flat as well as altcoins. whatever it is, we must be prepared to face every possibility, take advantage of the opportunities that exist as well as possible.
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forexandcryptoauditor
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April 29, 2021, 09:29:56 PM |
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Being a leader or I should say the father of cryptocurrencies, bitcoin has dominated all other cryptocurrencies since the beginning. However, with the surge in the interest of other currencies, there is an increase in investments in altcoins. In the month of Jan 2021, the dominance was more than 70% and today while writing this post, it is at 49.50%( https://in.tradingview.com/symbols/CRYPTOCAP-BTC.D/). I hope as BTC price will increase, dominance will increase again.
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Gozie51
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April 29, 2021, 09:38:08 PM |
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- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?
I do think that the high price doesn't really determine the amount of bitcoin dominance because other coins too will rise in value just like bitcoin. For making example, Ethereum too has its own dominance, likewise bnb. So all of them have little percentage of dominance they have in the market. Therefore, if bitcoin increase to $70k, the dominance may rise or still be in same position because others too could rise in dominance or fall, so it depends.
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Scripture
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April 29, 2021, 09:46:10 PM |
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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH It's been just 2 weeks since the last ATH and the one before that was in March. I don't think this is a valid point for assessment. This is to confirm the altcoin season since Bitcoin stabilize on a good price for now and many altcoins are rising unexpectedly. The so called shitcoins are now rising and making a lot of money for the scalpers, if Bitcoin dominance continues to fall or to stay on this level for now, the altcoins season will become stronger so better to hold more good altcoins now since ATH with altcoins is still possible.
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pixie85
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April 29, 2021, 09:58:17 PM |
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I don't think it will go far below 50% This dip is temporary as people are trying to realize their gains from the bitcoin's bull run, hoping altcoins will go up more and Bitcoin will turn into a bear market.
2 things that can happen now is: bitcoin will go up and people will dump some of their altcoin holdings to join another wave of the bull run bitcoin will crash to 50% of its ath and altcoins will crash with it
You can see where some of the BItcoin went by watching the dominance charts. While BItcoin fell below 50% ETH, XRP and BNB gained some points.
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Willitivity
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April 29, 2021, 09:59:02 PM |
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Being a leader or I should say the father of cryptocurrencies, bitcoin has dominated all other cryptocurrencies since the beginning. However, with the surge in the interest of other currencies, there is an increase in investments in altcoins. In the month of Jan 2021, the dominance was more than 70% and today while writing this post, it is at 49.50%( https://in.tradingview.com/symbols/CRYPTOCAP-BTC.D/). I hope as BTC price will increase, dominance will increase again. It's not clear when Bitcoin's dominance is heading to next because even though it took serious beatings and fell from 77 to around 51-55 at the moment, people on and outside the forum think that altseason is just getting started or hasn't started yet. If that is true, that means the dominance would break the long time support of 45 - 50. Bitcoin has been on top for a very long time, and I don't think it would lose that spot anytime soon.
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MadeMen
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April 29, 2021, 10:08:43 PM |
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We've always had btc dominance in the cryptocurrency space, I believe it's expanding due to the bull run and the fact that altcoin is also increasing should bring the dominance to a halt, but that doesn't seem to happen. The bull run of this season has lasted for quite a while now and it could bring about some chances for some thing different in the market.
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NewRanger
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April 29, 2021, 10:16:26 PM |
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I don't think it will go far below 50% This dip is temporary as people are trying to realize their gains from the bitcoin's bull run, hoping altcoins will go up more and Bitcoin will turn into a bear market.
2 things that can happen now is: bitcoin will go up and people will dump some of their altcoin holdings to join another wave of the bull run bitcoin will crash to 50% of its ath and altcoins will crash with it
You can see where some of the BItcoin went by watching the dominance charts. While BItcoin fell below 50% ETH, XRP and BNB gained some points.
i've check current bitcoin dominance and now its sitting on 48,3% so in my opinion it will be altcoin season . eth and binance already start it with current all time high and maybe another coins will do the same too. looks like now bitcoin move parallelly with altcoin , no more contra movement from altcoin to bitcoin.
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dikistutmazsabri
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April 29, 2021, 10:30:25 PM |
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When we consider the recent bitcoin movements, we can say that we are slowly transitioning to the altcoin season. Bitcoin now seems stable.
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Hobo66
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April 29, 2021, 10:37:06 PM |
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At this time market and specially butcoin price is ep volatile and everything can be happen in two days. Most worry thing is that btc dominance decreasing day by day but its price is almkst stable. This can dump the while market at a time.
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boty
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April 29, 2021, 10:49:39 PM |
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At this time market and specially butcoin price is ep volatile and everything can be happen in two days. Most worry thing is that btc dominance decreasing day by day but its price is almkst stable. This can dump the while market at a time.
no more panic sell on altcoin market when bitcoin price dump.many altcoin already hit the bottom and if they follow bitcoin price it just correction to find new support and ready to bounce. 51347 will be they key for bitcoin price, is it strong support so make it bounce and followed by altcoin to create mega bullish ? we hope it come true.
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Yamifoud
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April 29, 2021, 11:01:52 PM |
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We've always had btc dominance in the cryptocurrency space, I believe it's expanding due to the bull run and the fact that altcoin is also increasing should bring the dominance to a halt, but that doesn't seem to happen. The bull run of this season has lasted for quite a while now and it could bring about some chances for some thing different in the market.
The market still in Bullrun, both Bitcoin, and altcoins. And as the momentum keeps looking like that, I'd even more positive that it rallies more and stay longer more than what we expecting. We have a short pump in the past few days, people are to think about the end of the bull season and taking the chance to invest in altcoins but we are wrong. In fact, we even see the Bitcoin dominance rally back high. We have been tested several times and yet, we are still strong and getting stronger.
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