Bitcoin dominance is key

[wagmi]

Bitcoin dominance is a very important metric and we all should know it, why!

Bitcoin has been around for a very long time and after a few years, more coins have arrived to overtake Bitcoin. But so far, not a single coin achieved an overtake.
Shitcoins don't have an overtake button. It needs hard work and a good coin.
As indicated by marketcap, all coins are listed and compared. Marketcap can bee seen at CoinMarketCap or CoinGecko for example. Marketcap is number of coins * value of each coin for a specific Crypto asset, so it's a very important number for a coin. For Bitcoin dominance, Bitcoin's marketcap is compared against ALL shitcoin currently listed on CoinMarketCap or CoinGecko.

Right now, Bitcoin was able to secure a dominance of over 40% against ALL shitcoin currently listed on CoinMarketCap or CoinGecko.
It's just huge and new shitcoins are added every day.

We should remember it and what it really means!

Bitcoin dominance and if you understand it, really shows how strong Bitcoin is performing!
Await more gainz! 

wagmi

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[Dave1]

Bitcoin is the prime mover so obviously it's going to hard to topple it at the top although there is some attempts in 2017. It's called Rippening for XRP and Flippening, so called ETH because that time bitcoin is losing some ground and ETH coming up. Nevertheless it didn't have enough momentum so the rest is history. Although others might say that bitcoin dominance is not a good metrics, but still it remain to be on the 40%++ in the last 4 years or so.

[hugeblack]

Bitcoin dominance is another useless metric added to the market cap and both are misleading metrics for anyone who wants to invest in altcoins.
Perhaps the market capacity of Bitcoin is the closest to the accuracy because of the limited supply, which cannot be exceeded, but it is unfair to compare it with altcoins (pump/dump coins) and therefore give a percentage on it.

The only thing that we may benefit from is the knowledge of the flow of money to bitcoin or altcoins, and therefore will the price of bitcoin continue to increase, or  money will follow to pump those altcoins.

In all cases, it is not considered any measure to predict price movements, but rather the continuation of the rise after a sudden increase in the price.

[Don Pedro Dinero]

Bitcoin dominance is a very important metric and we all should know it, why!

Bitcoin dominance is another useless metric

LMAO but I agree more with this second opinion. With the market for altcoins steadily growing, it is only natural that Bitcoin's dominance will suffer, especially as many people are trying to make a splash with altcoins and see that profits with Bitcoin will be more modest.

[Reid]

Could not question that. What had been happening for a long time proves the dominance of Bitcoin.
But it looks like we are on a bear cycle as it just keep on dumping back below $40k. No big news after all which includes the reaction of its market, a big portion of it.
Without it's wave up we cannot expect our beloved altcoins to be on the increasing wave too. I guess all we can do is wait and if ever the economy will go back to normal we might see new investors wanting their asset to be in different form. Cryptocurrencies.

[verita1]

I've had a look at Coingecko. But until November 2021 bitcoin had a dominance of 40%.
As of today 04/23/22 bitcoin has a dominance of 38.7% according to coingecko.
It is good to examine this statistic makes us see the history, present and imagine the future.
I want everyone to own bitcoin, I wouldn't want bitcoin dominance to go down even more.
Something tells me that it is unfavorable for bitcoin, as a curious fact, 41.29% represent other altcoins and are not ETH, LTC, NEO, EOS to mention a few.

[Johnyz]

Bitcoin dominates the market since then but still corrections on its price is still necessary for us to be called as a healthy market and with altcoins as the alternative. Bitcoin will rise again eventually since the market will recover again and that is because of Bitcoin which can also attract good altcoins to pump. Just invest on a good project, they usually rise along with Bitcoin, so this can be a good opportunity for you to buy altcoins while Bitcoin price is still down.

[STT]

At the moment that would just indicate ETH and other blockchains expanding or not.  Since ETH just delayed their change to Proof of stake yet again it would seem to favor BTC being dominant once more.     When BTC is hyped, peaking after that it tends to favor expansion from crypto funds to other blockchains but as we are under fire currently I think its best to stick to BTC in speculative terms and other blockchains do less well.

[TravelMug]

And I do agree that bitcoin dominance is just a useless metrics. And even in the bear market wherein the chances to go down below 40% is high, it doesn't mean that bitcoin will be overtaken by shitcoins.

They are saturated while bitcoin remains the top assets that smart investors are going to put their money anyways. The steady profit is bitcoin, while altcoins just offered pure p&d and chances are high that you won't recovered it if the price goes down hard.

[pooya87]

Bitcoin dominance is a very important metric and we all should know it, why!
Bitcoin dominance and if you understand it, really shows how strong Bitcoin is performing!

First of all the term "dominance" is wrong, it is "market cap ratio" and it is the most useless metric that has ever existed in any market. Even if you are making the correct conclusion based on it!
You have a good point about solo bitcoin being compared against total of thousands of shitcoins though.

The big fundamental flaw in market cap and their ratio is that you can not control what "supply" value is the correct value to use and less importantly what "price" is actually the correct price.
Take the biggest shitcoin of all times ethereum for example. It has 72 million premine so it is not part of its supply. Same with BNB, XRP, etc. they all have "fake circulating supply" and when you remove that their market cap drops significantly.

The same problem happens to price but mostly about new shitcoins. In simple terms you can create a new token for virtually no cost and then sell it for a billion dollar to yourself (you don't have to pay anything just say the transaction took place or put the money from your left pocket into your right pocket) and that means you shitcoin's market cap is $1 billion * whatever supply it has!

Bitcoin has been around for a very long time and after a few years, more coins have arrived to overtake Bitcoin. But so far, not a single coin achieved an overtake.

That's not true, I believe it was 2017 when a shitcoin nobody had ever heard of surpassed bitcoin's marketcap because someone did what I explained above

[Ararbermas]

LMAO but I agree more with this second opinion. With the market for altcoins steadily growing, it is only natural that Bitcoin's dominance will suffer, especially as many people are trying to make a splash with altcoins and see that profits with Bitcoin will be more modest.

but we can see how bitcoin dominance increased as well when those altcoins faild and turn into shitcoins especially if its bear market because mostly investors jumping into bitcoin to buy instead of keep holding.
And perhaps that's the reason why they can't overtake bitcoin because investors losing confidence always everytime the prices of altcoins is decreasing, and as it's very common that after all hypes they suddenly become so stagnant at the cheapest price and usually not using any sign to recover for long time unlike bitcoin.

[fzkto]

Bitcoin dominance is not a good indicator because it does not always work correctly. For example, right now it is falling and altcoins should be rising according to this model, but they are falling along with bitcoin and dominance, which is a bit odd. I assume this indicator can be used in a rising market or in combination with others.

[davis196]

OK,Bitcoin dominates over all the shitcoins.AND SO WHAT?
Comparing Bitcoin to the shitcoins is like comparing the best professional football club in the world to a bunch of amateur football clubs located in some underdeveloped country.The difference is so big that it makes the comparison pointless.
I thought that you would explain why the Bitcoin dominance is key.Bitcoin dominance is a key to what?
Unfortunately,you don't provide any deep meaning and explanation about why this useless comparison is supposed to be important for all the Bitcoiners around the world.

[palle11]

I have not heard of any bitcoin investor or altcoins investors doing an investment based on the dominance. Dominance doesn't really matter in investment of bitcoin, and the bitcoin dominance reduces with the number of altcoins whether shit coins or real coins with utility coming into the market. This is a fact to note so it is not the important key for investment. Investors basically try to catch up with bull trend for investment, IMO the trend matters alot.