Bitcoin dominace is not decreasing

[Alpha Marine]

Market dominance based on market cap is an overrated thing. When bitcoin dominance was about 52% a lot of people were worried about how it was losing its dominance, and I find it very amusing because it's not important at all. When bitcoin had a market dominance of 80%, it wasn't this big. Ethereum has a market dominance of 11% but it's still one of the least performing coins in the market. A lot of the top coins by market cap are a fluke. Most of them have a ridiculously large amount of coins in circulation. If a coin like Shiba Inu, for example, gets to $1 per coin  (I know it's almost impossible because of how shit it is), that will make its market cap around $589 trillion, which will mean it has a higher market cap than bitcoin. Does that make it more dominant?

According to CoinMarketCap, there are about 19 million coins and tokens out there, and hundreds are being created per day, so it's normal that the percentage of dominance by market cap will keep shifting. At the rate coins get created, I won’t be surprised to see bitcoin "dominance" go lower than 50%. It's very normal because people will use altcoins to get quick money, and that is why these coins always dump because people sell off to get profit at every chance they get.

When talking about dominance, we should look at how acceptable the coin is. Which coin is more acceptable as a means of payment?
Also, the popularity of the coin. Even though only a few percentage of the world holds bitcoin, a lot more percentage of the world know about bitcoin. They may not understand what it is, but they know bitcoin more than any other altcoin. There is no way you will know crypto and not know bitcoin, but you can know bitcoin and not know other altcoins, that's dominance.
We can even look at the coin with superior features. There's a reason big corporations choose bitcoin as their asset, and rumours of countries talking about bitcoin reserves. That's dominance.

[Mia Chloe]

~snip

Bitcoin dominance is not decreasing and it's an obvious statistics that you can get by looking at both market cap and how much liquidity bitcoin has compared to the entire crypto ecosystem. Basically when bitcoin pumps it has a huge influence on the general market and that is part of the factors that determine the dominance of a particular currency over others.

The only thing that is arguably true is Bitcoin dominance in P2P tradings which I used the term arguably since from a point of view everyone seems to focus more on hodling than actual P2P.

[Frankolala]

The decentralized nature of bitcoin and due to the fact that bitcoin is censorship resistance makes it unique and gives it dominance over shitcoins because they're duplicate of bitcoin. Bitcoin has been dominating and will continue to dominate in future because bitcoin controls the price movement of the rest coins and is a store of value for long term. The difference is clear, you can't compare apple and orange.

[Mrbluntzy]

At the rate coins get created, I won’t be surprised to see bitcoin "dominance" go lower than 50%. It's very normal because people will use altcoins to get quick money, and that is why these coins always dump because people sell off to get profit at every chance they get.

As for me, I willwill be surprised to see Bitcoin dominance get to that 50% because I don't think it will, irrespective of how new altcoin are being created every day, you already defined what people are using it for, to get quick money and that tells you that they can not hold it for long like Bitcoin and at the end of the day, Bitcoin will still remain dominant up at 70% and not less than that. I don't think that any smart Bitcoin investor of this era will sell their Bitcoin to far altcoins.

[xzone]

We're in a different economy now than in previous years. Dominance won't reach around 30-40%. It's not even falling below 60% right now. In fact, once we drop below 60, everyone will talk about the start of an altcoin rally, and we'll soon see a very different picture than we're seeing now

Altcoins have very little impact on the market. It wouldn't be healthy for coins or tokens with little financial value to suddenly rise significantly. As long as ethereum is as large as bitcoin and remains the largest major coin everyone trusts, it's perfectly normal for its rises and falls to be similar to bitcoin. I don't find that surprising at all.

Thousands of new tokens enter the market every day, none of them having any value. They start life as shitcoins and within a few days become worthless junk or rugpull

[Versatile_choice]

At the rate coins get created, I won’t be surprised to see bitcoin "dominance" go lower than 50%. It's very normal because people will use altcoins to get quick money, and that is why these coins always dump because people sell off to get profit at every chance they get.

As for me, I willwill be surprised to see Bitcoin dominance get to that 50% because I don't think it will, irrespective of how new altcoin are being created every day, you already defined what people are using it for, to get quick money and that tells you that they can not hold it for long like Bitcoin and at the end of the day, Bitcoin will still remain dominant up at 70% and not less than that. I don't think that any smart Bitcoin investor of this era will sell their Bitcoin to far altcoins.

Sure the reason why bitcoin would keep increasing in dominance is due to the fact that bitcoin is the only reliable and trusted asset when it comes to Long term investment secondly there are some people that discovered that bitcoin is the only way in which we can be able to escape inflation whenever it comes while Majority is going for the future profit, there are a lot of benefits that is attached to this asset (BTC) which is why there is a high increase in the demand,  this are the things that will trigger the dominance to keep increasing and I don't see any coin that would come from behind to take the dominance away from bitcoin.

[Nathrixxx]

Bitcoin dominance is not decreasing and I'm surprised the way you see some of people talking about how this has been a serious challenge in cryptocurrency, we have to understand some things right here because not everything we see online we take as serious the way they appear if you know more about Bitcoin and the network, or let me say cryptocurrency at large then you can compare them all together to know how bitcoin dominance has always been increasing in this manner just as we have it now, just as before.

[Ivystar5]

We definitely can't compare bitcoin dominance with any other coins even though they might be some doubt that bitcoin dominance was quite low at some point yet bitcoin has always been king amongst the cryptocurrencies, even though there might be some coins that has some features that makes them attractive enough yet it no way can stand bitcoin dominance.

Even during altcoins season bitcoin dominance wouldn't even go below what it is because it's the bed rock of all the altcoins that ever existed so they only rally because bitcoin did saw it's biggest ATH for the bull run.

[Churchillvv]

The only thing that is arguably true is Bitcoin dominance in P2P tradings which I used the term arguably since from a point of view everyone seems to focus more on hodling than actual P2P.

Right! Bitcoin right now is typically an investment asset than a currency which it actually is. I agree it's arguable because from my perception Litecoin is used on P2P this days, I can't really speculation the frequency between bitcoin and Litecoin on P2P yet I believe it's now comparable.

Generally bitcoin is dominant for many reasons, being the starter of every crypto, according to some old guys that bitcoin is the source code of every cryptocurrency out there so there is no way any coin would beat bitcoin in dominance.

[KingsDen]

At the rate coins get created, I won’t be surprised to see bitcoin "dominance" go lower than 50%. It's very normal because people will use altcoins to get quick money, and that is why these coins always dump because people sell off to get profit at every chance they get.

As for me, I willwill be surprised to see Bitcoin dominance get to that 50% because I don't think it will, irrespective of how new altcoin are being created every day, you already defined what people are using it for, to get quick money and that tells you that they can not hold it for long like Bitcoin and at the end of the day, Bitcoin will still remain dominant up at 70% and not less than that. I don't think that any smart Bitcoin investor of this era will sell their Bitcoin to far altcoins.

Not trying to be funny here, but I have read from a member of this forum that, when bitcoin disappoint one developer, he decides to create his own coin, make profits, dump it and return to bitcoin 

[Oshosondy]

There's a reason big corporations choose bitcoin as their asset, and rumours of countries talking about bitcoin reserves. That's dominance.

People like to focus mostly on one asset and bitcoin have the characteristics to take the number one position, unlike the altcoins that are very centralized.

Bitcoin dominance is not decreasing and it's an obvious statistics that you can get by looking at both market cap and how much liquidity bitcoin has compared to the entire crypto ecosystem.

Recently since like 2 months ago, bitcoin marketcap decreased from around 66% but it is still above 60.89%. That is still huge and bitcoin remain highly dominant.

[GreatArkansas]

There's a reason big corporations choose bitcoin as their asset, and rumours of countries talking about bitcoin reserves. That's dominance.

People like to focus mostly on one asset and bitcoin have the characteristics to take the number one position, unlike the altcoins that are very centralized.

Bitcoin dominance is not decreasing and it's an obvious statistics that you can get by looking at both market cap and how much liquidity bitcoin has compared to the entire crypto ecosystem.

Recently since like 2 months ago, bitcoin marketcap decreased from around 66% but it is still above 60.89%. That is still huge and bitcoin remain highly dominant.

This is how, for the past few years, I just buy and hold Bitcoin only.

We must never underestimate Bitcoin because that's why it is the number 1, even a lot of altcoins have already claimed to be "bitcoin killer" and new popping random altcoins. Still, the Bitcoin dominance still growing as time goes by.

[Publictalk792]

You are right coin market cap can be misleading and your example about Shiba Inu perfectly shows how huge number of coins can make market cap look bigger than it actually is. I agree that true dominance is better measured by coin acceptance for payments and how well known it is around world. Bitcoin widespread fame even among people who do not fully understand it is powerful kind of dominance that simple percentage can not capture. Fact is that big companies and even countries are looking at Bitcoin as reserve asset really proves its strength no matter what its market cap percentage is.

[Paddy man]

Market dominance based on market cap is an overrated thing. When bitcoin dominance was about 52% a lot of people were worried about how it was losing its dominance, and I find it very amusing because it's not important at all. When bitcoin had a market dominance of 80%, it wasn't this big. Ethereum has a market dominance of 11% but it's still one of the least performing coins in the market. A lot of the top coins by market cap are a fluke. Most of them have a ridiculously large amount of coins in circulation. If a coin like Shiba Inu, for example, gets to $1 per coin  (I know it's almost impossible because of how shit it is), that will make its market cap around $589 trillion, which will mean it has a higher market cap than bitcoin. Does that make it more dominant?

According to CoinMarketCap, there are about 19 million coins and tokens out there, and hundreds are being created per day, so it's normal that the percentage of dominance by market cap will keep shifting. At the rate coins get created, I won’t be surprised to see bitcoin "dominance" go lower than 50%. It's very normal because people will use altcoins to get quick money, and that is why these coins always dump because people sell off to get profit at every chance they get.

When talking about dominance, we should look at how acceptable the coin is. Which coin is more acceptable as a means of payment?
Also, the popularity of the coin. Even though only a few percentage of the world holds bitcoin, a lot more percentage of the world know about bitcoin. They may not understand what it is, but they know bitcoin more than any other altcoin. There is no way you will know crypto and not know bitcoin, but you can know bitcoin and not know other altcoins, that's dominance.
We can even look at the coin with superior features. There's a reason big corporations choose bitcoin as their asset, and rumours of countries talking about bitcoin reserves. That's dominance.

 I agree with you. Infact, whenever the term crypto currency is mentioned the first coin I think of is Bitcoin and I believe  that is a reference coin in almost every members heart. That shows you how valuable and dominant Bitcoin really is.
In terms of value, longevity and volatility institutions like Fidelity Digital asset highlight Bitcoin’s edge over altcoins.(https://www.fidelitydigitalassets.com/research-and-insights/bitcoin-vs-altcoinsa-5-step-guide)

[SilverCryptoBullet]

Market dominance based on market cap is an overrated thing. When bitcoin dominance was about 52% a lot of people were worried about how it was losing its dominance, and I find it very amusing because it's not important at all.

Bitcoin is Bitcoin, and there is only an unique Bitcoin project with its market cap calculated in market dominance index. At the same time, there are more altcoins in the market and over years, there have been more abundant altcoin projects launched with more market cap calculated for altcoin dominance.

Hence, Bitcoin dominance nowadays is different than in the last year and very different than in past years when there were less altcoins than now.

We can even look at the coin with superior features. There's a reason big corporations choose bitcoin as their asset, and rumours of countries talking about bitcoin reserves. That's dominance.

I disagree in your definition of dominance.

Bitcoin dominates cryptocurrency market but I disagree with your definition on this term.

[davis196]

The topic around Bitcoin's dominance should've been ended by now. The year is 2025, not 2015. OP, were you living under a rock in the past decade?
Bitcoin's dominance drops a little bit, when there's an altcoin season, and Bitcoin's dominance goes up when there's a bull run on the crypto markets. I don't believe that some altcoin is ever going to dethrone Bitcoin as the number one cryptocurrency with the dominant market cap.
Why should we give a damn about shitcoins like Shiba Inu? Maybe the dev team behind Shiba would burn half the Shiba coins and the price would hit levels above 1 dollar. So what? Shiba is still a shitcoin. Should we even compare it to Bitcoin?

[X-ray]

People in the market thinks the liquidity just revolve around BTC and altcoin, so whenever altcoin market cap rises, they thought altcoin is gaining dominance and liquidity rotating to altcoin. In reality there are so many low float coin with fake FDV that spams the market.

I agree that bitcoin dominance by market cap can be misleading and altcoin market cap hugely just a fluke.

It reminds me when trump was dropping meme coin and the low float FDV altcoin are dumping with just a dump that's worth a fraction of their FDV and they're already losing more than 50% of their valuation.

[GigaBit]

It is not possible to determine the real strength of a coin by dominance. Some altcoins sometimes get hyped and at that time they show good dominance in the market but it also disappears after a few days. If a coin is considered only by looking at dominance, then the chances of losing in investment will increase significantly. Sometimes some top altcoins including meme coins have dominance but it is never more popular than Bitcoin. Even if Bitcoin's dominance is 52 percent or less in the market, it can reach new heights again. People can trust it even after a long time. No other how particular a crypto has the global acceptance, which is why judging it only by dominance will be wrong.

[EarnOnVictor]

This statistical figures from CoinMarketCap show clearly that it's Bitcoin and Others. There is no huge rivalry here, and never will it be.

Market dominance based on market cap is an overrated thing.

The market capitalisation of any asset can never be overrated, as it is the direct reflection of the status and economy of that asset. It now depends on what you are using it to measure. For instance, in Bitcoin dominance (crypto space), though it will still not be overrated regardless of the application, yet it may not be appreciative in percentage if more assets are involved. But this doesn't affect the progressiveness of the asset in most cases. Bitcoin is a good example, it continues to rise even as the dominance percentage may not necessarily increase due to too many coins/tokens involved. Thanks to the market capitalisation, it can't be stated as overrated.

If a coin like Shiba Inu, for example, gets to $1 per coin  (I know it's almost impossible because of how shit it is), that will make its market cap around $589 trillion, which will mean it has a higher market cap than bitcoin. Does that make it more dominant?

This looks almost impossible. Notwithstanding, if it happened, be assured that the market cap of Bitcoin will be measurable in multiples of that of Shib at the time. So Bitcoin dominance will always prevail regardless of the progress made by other coins/tokens.

[fikrett]

It is not possible to determine the real strength of a coin by dominance. Some altcoins sometimes get hyped and at that time they show good dominance in the market but it also disappears after a few days. If a coin is considered only by looking at dominance, then the chances of losing in investment will increase significantly. Sometimes some top altcoins including meme coins have dominance but it is never more popular than Bitcoin. Even if Bitcoin's dominance is 52 percent or less in the market, it can reach new heights again. People can trust it even after a long time. No other how particular a crypto has the global acceptance, which is why judging it only by dominance will be wrong.

I would say it's more about what the business and the people think about the market - do they fear or do they beileve.