Bitcoin dominace

[OgNasty]

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

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[MusaMohamed]

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

Without Bitcoin, other shitcoins will mean nothing. Bitcoin dominance is smaller than it actually is because so many abundant altcoins have been created too easily and contributed a lot to cryptocurrency market cap that reduces Bitcoin dominance.

Like a new shit coin created and pumps x100, with high total supply but in fact its value is zero and after a while, its price will be corrected to actually reflect its value. Altcoins die with time but Bitcoin becomes stronger with time. In other words, Bitcoin dominance is bigger with time in this perspective.

[Vickysagar]

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

Without Bitcoin, other shitcoins will mean nothing. Bitcoin dominance is smaller than it actually is because so many abundant altcoins have been created too easily and contributed a lot to cryptocurrency market cap that reduces Bitcoin dominance.

Like a new shit coin created and pumps x100, with high total supply but in fact its value is zero and after a while, its price will be corrected to actually reflect its value. Altcoins die with time but Bitcoin becomes stronger with time. In other words, Bitcoin dominance is bigger with time in this perspective.

The more people learn about crypto the more they realize how BTC dominance is important. All those shitcoins and memecoins will go away, at least 99% of them. BTC and some quality coins will stay. But I'm not so sure about those altcoins.

[michellee]

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

It's better like that, so we don't think too much about how the price will move later. And it also won't make us panic or worry if price movements differ from our analysis.

But no matter what, every move in Bitcoin will affect altcoins. Bitcoin prices fall, altcoins will also fall, and some will even fall deeper. The price of Bitcoin is stable, some altcoins can go up and some don't move. But when the Bitcoin price rises a little, some altcoins will rise following the Bitcoin price movement.

Apart from that, altcoins that are not strong enough to follow movements will be eliminated from the market and replaced by other altcoins. But Bitcoin's dominance will remain stronger than altcoins.

[posi]

Altcoins can make new bottoms from now till the end of 2023 before they can start to recover and prepare for Bitcoin bull run in 2024 after halving. Without Bitcoin bull run, altcoins will be dead coins and they will have no actual bull run in 2024.

I think it is still very risky to use your capital to buy altcoins now and rest months of this year. Bitcoin is still in a bearish market and after stucking below $30,000 some months, failed to break out of the strong resistance, and after having good recovery from $16,000 to $30,000, it's sensitive time for Bitcoin.

When Bitcoin has hiccup in this sensitive time, altcoins will not have good movements.

I agree with you, with what's going on, now is not the right time to invest in altcoins. I think we should wait more or maybe after the halving happens, that's the time to think about investing in altcoins. For now, the entire focus should be on bitcoin as the market could still fall more even with the halving approaching. If bitcoin falls below $20k again, altcoins will have a new bottom or some will die and not be able to recover. The altcoin markets are extremely harsh and risky, so be careful with them.

[Bushdark]

One thing we need to understand from the market is that if Bitcoin do not move at all, no altcoin will be able to stay bullish for long. The market rely on Bitcoin to move that is why we don't have to ignore the Bitcoin market or else we might be getting it wrong.

Those that had been in the market for long even before the uprise of many of the altcoins we have in the market. The dominance is present in the market and we need to have that in our mind. If we all spend more funds in buying altcoins than Bitcoin then we are going to experience a backward Market which will prolong the bear market to extend more than what we have experienced so far.

[mv1986]

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

I suppose it's something like that or maybe it could be an indicator of people shifting their assets from Bitcoin into altcoins/shitcoins or vice versa. That sometimes happens during a bull run when the crowd things that Bitcoin may stop going up and go sideways for a while. They then have the genius idea to sell their precious Bitcoin for some lottery ticket aka shitcoineryticket.

I think there was one event when Ethereum had some significant growth and outperformed the rest of the crypto market when Bitcoin lost a huge share in dominance. But as a bottom line I don't think it's really an important indicator of anything.

[GreatArkansas]

Let's talk about Bitcoin dominace, it hight time people should divert attention from altcoins not completely though there will always be a need to but let's focus more on Bitcoin is now as it dominance hitting
 49%to 51%

Yep, this is why I intend to put all my allocations on Bitcoin first. I think there are still a lot of people into altcoins because they are aiming for high ROI just in case we do a bull market again. But for me, it's kinda risky because you don't know when bull market will happen, it's better to be safe than nothing, so Bitcoin is the safest now.

[TheSpiral]

Without Bitcoin, other shitcoins will mean nothing. Bitcoin dominance is smaller than it actually is because so many abundant altcoins have been created too easily and contributed a lot to cryptocurrency market cap that reduces Bitcoin dominance.

Like a new shit coin created and pumps x100, with high total supply but in fact its value is zero and after a while, its price will be corrected to actually reflect its value. Altcoins die with time but Bitcoin becomes stronger with time. In other words, Bitcoin dominance is bigger with time in this perspective.

volatility is the key function of all crypto coin may be its altcoins or bitcoin but if we compare the dominance of both so we can concluded that as bitcoin is more accepted by the crypto users so its volatility cannot change the demand for bitcoin but if price Fluctuations occurs in altcoins then demands for specific altcoin will reduces which can reduce such altcoin the value of zero.

Because of the Bitcoin's dominance users are more likely to accept bitcoin in contrast with altcoins as altcoins are more profitable but trustable coin is only bitcoin which will remains dominant over other coins always.

[legendbtc]

Let's talk about Bitcoin dominace, it hight time people should divert attention from altcoins not completely though there will always be a need to but let's focus more on Bitcoin is now as it dominance hitting
 49%to 51%

Certainly bitcoin will still dominate this cryptocurrency market, but if you compare bitcoin's dominance many years ago and until now, that dominance is gradually decreasing because of the rise of altcoins. In the past, there was a time when bitcoin dominance accounted for 80% of market capitalization but now it has dropped to 50%.

Although there is still very high and absolute dominance, btc dominance is decreasing over time as altcoins are increasing and growing continuously. I think that as the market gets bigger and altcoins get more serious about project development, this dominance will gradually be redistributed.

But in this cycle, you are right, bitcoin dominance is still huge and we should focus on bitcoin to stay safe.

[summonerrk]

~~~

This is a time of uncertainty. The price of bitcoin is in the corridor from 25 thousand to 30 thousand, which is the local maximum price since 2023, and two times optimistic traders tried to break through this level, but without success. Now is the moment when it is necessary not to take any position and prepare for the fall. I have placed several pending orders at the lower support levels in the area of 25, 16, and 8. Bitcoin cannot fall below as this is an impenetrable trend support level for all time. Therefore, 8k is the lowest. The fact that now the price will rise above 30k, I think it is unlikely.

[FinneysTrueVision]

Bitcoin is the only cryptocurrency which we can confidently say is not a security. Investment firms are going to focus their ETFs on whatever has the best chance of getting government approval. I don't expect them to stay only with Bitcoin forever. Eventually they will look for new ways to make profit and altcoins seem to be the easy answer for crypto oriented businesses. I expect it to maintain it's dominance for quite some time but once the halvening is passed and ETF applications start diversifying into altcoins it could start going back down.

[lombok]

Altcoins can make new bottoms from now till the end of 2023 before they can start to recover and prepare for Bitcoin bull run in 2024 after halving. Without Bitcoin bull run, altcoins will be dead coins and they will have no actual bull run in 2024.

I think it is still very risky to use your capital to buy altcoins now and rest months of this year. Bitcoin is still in a bearish market and after stucking below $30,000 some months, failed to break out of the strong resistance, and after having good recovery from $16,000 to $30,000, it's sensitive time for Bitcoin.

When Bitcoin has hiccup in this sensitive time, altcoins will not have good movements.

Agree. The end of this year will probably be a lean period for altcoins as long as Bitcoin cannot break through $32,000. Keep in mind that bitcoin is still struggling to break through its resistance level.
I believe BTC is close to its bull run, I hope that early this year BTC will start on its bullish silk road.

• dominance UP                                 bitcoin UP                                  ALTCOINS DOWN
• dominance UP                                 bitcoin DOWN                             ALTCOINS DUMP
• dominance DOWN                            bitcoin UP                                 ALTCOINS PUMP

If this still applies, it is still certain that Altcoin will print a new lower area. Maybe for scalpers this is an opportunity to make money, when every price dump on altcoins they take advantage of the price bounce which can sometimes provide profits of tens to hundreds of percent.

[Dr.Bitcoin_Strange]

Some people are investing their money more in altcoins because they feel they're very cheap and can easily afford to buy them compared to Bitcoin, which they think is very expensive. But yeah, bitcoin might be expensive to purchase one piece of it, but that doesn't mean that the investor must buy a whole bitcoin at once. They don't realize they can buy Bitcoin in fractions for any amount they can initially afford to invest. Although some altcoins can luckily earn some investors a huge profit, like already some investors have been able to make some profit in altcoins but it was out of luck, so anyone who is venturing into altcoins should just be fully aware of the risk of losing their money if the project falls at the end of the day. Bitcoin is really dominating, and it's still in the bear season, which gives an investor the opportunity to buy now and make a profit during the bull run.

[Natsuu]

Some people are investing their money more in altcoins because they feel they're very cheap and can easily afford to buy them compared to Bitcoin, which they think is very expensive. But yeah, bitcoin might be expensive to purchase one piece of it, but that doesn't mean that the investor must buy a whole bitcoin at once. They don't realize they can buy Bitcoin in fractions for any amount they can initially afford to invest. Although some altcoins can luckily earn some investors a huge profit, like already some investors have been able to make some profit in altcoins but it was out of luck, so anyone who is venturing into altcoins should just be fully aware of the risk of losing their money if the project falls at the end of the day. Bitcoin is really dominating, and it's still in the bear season, which gives an investor the opportunity to buy now and make a profit during the bull run.

For me, it's not a matter of dominance with regard to personal investments. Well if you are considering long-term investment then put BTC on your list as it is already established among all cryptocurrencies.

But if you're a person who prefers altcoin what I would suggest is to do their own research thoroughly on the project they are going to. Read the white paper, double check the website, and also like other assets, what is its purpose or benefits to people and users.

so anyone who is venturing into altcoins should just be fully aware of the risk of losing their money if the project falls at the end of the day.

Because compare to BTC which already has a large market cap, most Altcoins aren't which makes it very volatile. Small fluctuations on its price is either you make a lot of money or you lose it all.

[Bushdark]

Some people are investing their money more in altcoins because they feel they're very cheap and can easily afford to buy them compared to Bitcoin, which they think is very expensive. But yeah, bitcoin might be expensive to purchase one piece of it, but that doesn't mean that the investor must buy a whole bitcoin at once. They don't realize they can buy Bitcoin in fractions for any amount they can initially afford to invest. Although some altcoins can luckily earn some investors a huge profit, like already some investors have been able to make some profit in altcoins but it was out of luck, so anyone who is venturing into altcoins should just be fully aware of the risk of losing their money if the project falls at the end of the day. Bitcoin is really dominating, and it's still in the bear season, which gives an investor the opportunity to buy now and make a profit during the bull run.

I think one of the reasons why people keep investing in altcoins is because they don't really understand the concept of the cryptocurrency market and they think that there is huge profits I'm altcoin investment. If so there arf still some certain precautions we need to take when we want to invest in the altcoins Marketplace. If Bitcoin is still on a bear market then we should also be expecting a bear altcoim Market too. Although sometimes there can be pump and dump which is one of the things we do see in the market recently. They will pump a particular altcoin and take there profits as soon as possible making it to form long bullish and bearish candle stick.
 

[KingsDen]

source

Even without knowing about this infographic people already understand the Bitcoin dominance in relation to altcoins. But what really happens is that people still believe the altcoin for some certain cases which is related to gambling. If you check out the infographic posted above, you can see that a time comes when altcoins dump beyond expectations. This is actually the bad time. On the good time, you will understand that altcoins will pump very well. Instead of gambling with this excessive pump and excessive dump people have realised that going the Bitcoin way, which is normal increase and decreases is the answer to accumulating wealth in the cryptocurrency industry.

[kentrolla]

This is not something new as bitcoin's dominance increases whenever market is not stable or when it's an extended bear market as people don't want to risk their portfolio as Altcoin will get messed up in these scenarios. But once the market is good then dominance of Bitcoin gets splitted between top performing altcoins, but bitcoin will continue to be the dominant in the crypto market atleast for one more decade.

[blockman]

Some people are investing their money more in altcoins because they feel they're very cheap and can easily afford to buy them compared to Bitcoin, which they think is very expensive. But yeah, bitcoin might be expensive to purchase one piece of it, but that doesn't mean that the investor must buy a whole bitcoin at once. They don't realize they can buy Bitcoin in fractions for any amount they can initially afford to invest. Although some altcoins can luckily earn some investors a huge profit, like already some investors have been able to make some profit in altcoins but it was out of luck,

Very true, they think that they're able to purchase something on a discount and the opportunity is the same as Bitcoin. That's not what it is but if that's how they believe it works, some are even making money out of it when the bull run comes. But whichever type of investing works for you, better to keep on doing that and as for those investors that are managing to make more with altcoins of their choice, that seems pretty fair for them but still Bitcoin is the best of them all regardless of how much they gain in altcoins.

so anyone who is venturing into altcoins should just be fully aware of the risk of losing their money if the project falls at the end of the day. Bitcoin is really dominating, and it's still in the bear season, which gives an investor the opportunity to buy now and make a profit during the bull run.

That's it, the risk is even higher with altcoins and they don't know if by tomorrow the value would be increasing more as there are also bunch of investors that has the same thinking as theirs that would dump as quickly as possible when they see a probable collapse.

[dezoel]

That's expected, the whole market is anticipating a bull run next year after the halving event, and thus people are starting to accumulate as many Bitcoins as they can when the price is still low, and some might even divert their investments from other assets into Bitcoin because of the potential it has. The market cap dominance of Bitcoin will keep going up until we enter the bull run and then when the price starts crashing, altcoins will also get a fair share.

But, what you are calling a bull run isn't actually a bull run. If the price keeps going up and doesn't drop at all, that will mean that we are in the bull run. However, the current price doesn't really show much signs of that and we are not yet in the bull run, if the price manages to go above the previous resistance at $31k, then we might expect something.