Bitcoin is losing dominance

[Allura]

So happy bitcoin is losing a lot of power. Maybe we'll get to a point where we can have a nice market spread in the top 100 coins.

[[MPGH]Dave84311]

Its still at 40% - where it has been since June '17 - minus some dips and rises. Seems like others are losing dominance compared to bitcoin and ethereum.

[Allura]

Its still at 40% - where it has been since June '17 - minus some dips and rises. Seems like others are losing dominance compared to bitcoin and ethereum.

The difference between then and now is alt coins have stayed fairly consistent in power as bitcoin dominance spiked up and down drastically

[Dama]

Bitcoin has become a lot less volatile (short term) compared to other coins. It's the biggest and I don't think that will change anytime soon.

[RunUpTheRacksBTC]

Bitcoin isn't going anywhere. It's the grandfather -- all roads lead to it.

I can't predict the future. However, if I was a betting man, I'd wager that BTC stays on top for a good long time.

Also:

The difference between then and now is alt coins have stayed fairly consistent in power as bitcoin dominance spiked up and down drastically

Disagree entirely. I don't think that is the case at all. Every altcoin seems to fluctuate pretty consistently with BTC, not against it. If BTC is up, the rest are up. If BTC is down, the rest are down. You might have a run here or there, but nothing significant IMO.

[Allura]

Bitcoin isn't going anywhere. It's the grandfather -- all roads lead to it.

I can't predict the future. However, if I was a betting man, I'd wager that BTC stays on top for a good long time.

Also:



Disagree entirely. I don't think that is the case at all. Every altcoin seems to fluctuate pretty consistently with BTC, not against it. If BTC is up, the rest are up. If BTC is down, the rest are down. You might have a run here or there, but nothing significant IMO.

https://prntscr.com/jnusiu
You can see alt coins are gaining dominance

[RunUpTheRacksBTC]

https://prntscr.com/jnusiu
You can see alt coins are gaining dominance

What is that graph? It isn't labeled, and tells me nothing of value. It certainly doesn't seem to disprove anything that I said.

"The difference between then and now is alt coins have stayed fairly consistent in power as bitcoin dominance spiked up and down drastically"

Bitcoin looks pretty dominant the entire way through, there. Not that the altcoins haven't jumped up a little bit in recent times, but clearly Bitcoin is well ahead. I don't think we'll see BTC giving up the crown anytime soon. Recent altcoin hype certainly has caused the market to diversify, however I don't think it will last in the long term. I think we can expect the "dominance" as you put it to creep down over time as Bitcoin gains more momentum. I wager that the altcoin hype will creep downwards over time as folks realize all of these random coins aren't going to be as profitable as BTC.

[Allura]

What is that graph? It isn't labeled, and tells me nothing of value. It certainly doesn't seem to disprove anything that I said.



Bitcoin looks pretty dominant the entire way through, there. Not that the altcoins haven't jumped up a little bit in recent times, but clearly Bitcoin is well ahead. I don't think we'll see BTC giving up the crown anytime soon. Recent altcoin hype certainly has caused the market to diversify, however I don't think it will last in the long term. I think we can expect the "dominance" as you put it to creep down over time as Bitcoin gains more momentum. I wager that the altcoin hype will creep downwards over time as folks realize all of these random coins aren't going to be as profitable as BTC.

Better to just link you:
https://coinmarketcap.com/charts/#dominance-percentage

Bitcoin won't give up the crown just yet, but if bitcoin loses dominance, the "if bitcoin falls, so does all the alt coins" will become untrue. Bitcoin WAS profitable. Now its isn't as profitable. Alt coins are what are more profitable now.

[RunUpTheRacksBTC]

Better to just link you:
https://coinmarketcap.com/charts/#dominance-percentage

Bitcoin won't give up the crown just yet, but if bitcoin loses dominance, the "if bitcoin falls, so does all the alt coins" will become untrue. Bitcoin WAS profitable. Now its isn't as profitable. Alt coins are what are more profitable now.

I can't speak for altcoins that use anything other than ASIC, but in my neck of the woods, BTC is still king as far as value is concerned. You make decent points, though. We'll see where it takes us. In either case, I'm happy to take the ride.

[LegitCheatingSIKE]

Not sure how you see the current market's state as bitcoin loosing dominance.

Everything is going down because bitcoin is going down...

[Allura]

I can't speak for altcoins that use anything other than ASIC, but in my neck of the woods, BTC is still king as far as value is concerned. You make decent points, though. We'll see where it takes us. In either case, I'm happy to take the ride.

I honestly hope, from the bottom of my heart, bitcoin dies (not a BCH supporter). Bitcoin just sucks in general

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Not sure how you see the current market's state as bitcoin loosing dominance.

Everything is going down because bitcoin is going down...

I said losing, not lost dominance.

[[MPGH]Dave84311]

I honestly hope, from the bottom of my heart, bitcoin dies (not a BCH supporter). Bitcoin just sucks in general

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I said losing, not lost dominance.

BCH is not Bitcoin

BTC is Bitcoin

Anyone who says otherwise is an idiot

[Allura]

BCH is not Bitcoin

BTC is Bitcoin

Anyone who says otherwise is an idiot

I don't like bitcoin core or bitcoin cash. They are both shit imo.
Usually people who hate BTC (bitcoin core), are BCH supporters. Just saying I am not a BCH supporter either. I just hate both

[Mesut12]

BCH is not Bitcoin

BTC is Bitcoin

Anyone who says otherwise is an idiot

I think Bch sounds a lot like Satoshi's whitepaper.

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Btc down - gains market dominance because alts crash harder.

Btc up - loses market dominance because alts rise faster.

[ploti]

I believe we are still far away from a nice "spread market", BTC still is the crypto chosen by most for "safety" when downtrend is hard. Some factors such as the quality of the developers behind the project and its established position could explain it.
Maybe some regulations or countries could change it in the future though. Recently China ranked cryptos and ETH came out on top so we'll see but BTC dominance, imo seem here to stay for quite some time.