What is behind "BitCoin's Market Dominance"?

[Altsurvivalist]

Well for a while there we had some bolshy little bitcoin derivatives in the wide spread of diverse AltCoins until last year, where things started going astray just a little. Early this year we started to see some major sell-off going on and the alts crashing. Now with BitCoin's market dominance approaching the dangerous %80 threat rapidly, there are intense fears over an impending altcoins extinction event?! Oh dear, it looks like many of them could be going the way of the dinosaurs, with the remaining survivors living to evolve fur and become the 'mammals' of this brave new world?
What do you all think about this, and why are people dumping alts to create BitCoin's market dominance? It wasn't always like this, back in the hazy days of the AltCoin Pangaea... 

[Alcor]

The question, of course, is a good and timely one, for which you get + karma. This year there was a very peculiar situation when Bitcoin from the beginning of April to the end of June grew in price and increased almost four times, and the price of altcoins practically remained in place. Against the background of lowering the price of bitcoin, everyone expects its further growth and instead of altcoins invest their funds in bitcoin. Because of this, its capitalization has grown very much. Whatever happens in the future with the price of bitcoin - growth or decline, however, the level of its capitalization in the future should fall. After that, I think the time will come for altcoins.

[alltalk]

why are people dumping alts to create BitCoin's market dominance?

People don't dump the prices of altcoins, it is just the impact because many of them convert altcoins to Bitcoin. They think that trading or investing in Bitcoin will be more profitable and faster to earn money nowadays. This may be the main reason why the Bitcoin dominates the market while prices of altcoins go down.

[ZionRTZ]

What do you all think about this, and why are people dumping alts to create BitCoin's market dominance? It wasn't always like this, back in the hazy days of the AltCoin Pangaea... 

It's not a surprise that people are dumping most alts for BTC. If you look at the situation last year, you'll understand that many of these investors got heavily rekt from investing in altcoins (with a promise of 10X, 50X, 100X) last 2017. Given how bitcoin withstood all the FUD, expect investors to trust bitcoin more than any other altcoins.

[Zed0X]

Let's just assume that all altcoin holders are buying bitcoins but not all bitcoin holders are buying altcoins. I think that scenario alone explains the bitcoin dominance. It is basically down to the belief of the community that bitcoin is the most safe crypto asset to hold despite its volatility.

[vegasus]

Let's just assume that all altcoin holders are buying bitcoins but not all bitcoin holders are buying altcoins.

I agree with your assumption. It is normal since they must know about the potential profits by buying Bitcoins. Trading and investment are both good to do. They know Bitcoin bullish won't last a long time, so most people convert their funds to Bitcoin.

[dragononcrypto]

It's worth remembering that Bitcoin's market dominance started at 100% and was over 95% for 8 years, it's only been in the last couple of years we can seen Bitcoin lose it's dominance. It seems clear to me that in time there will be a more stable balance, but with BTC dominance going from 95% down to around 30% then bouncing back to 70%, there's clearly somewhere in the middle Bitcoin's dominance will find stability. Somewhere around 50% wouldn't surprise me.

[ShadowCrypto]

I strongly believe that cryptocurrencies are the next evolution of your monetary system. It is just a matter of time. If I'd go more in depth with this topic, my long term vision is bitcoin to become the worldwide mainstream currency and eventually the currency of exchange in our galaxy, that why

[damsix]

The title of this thread makes me very confused and a little fascinated with Bitcoin which is dominating the cryptocurrency market.
The answer: it's clear that Bitcoin will dominate because Bitcoin is the first cryptocurrency created.

We can take the example of gold which was first sought by many so that gold dominated trade between nickel, copper, silver and aluminum.

[Senin]

why are people dumping alts to create BitCoin's market dominance?

People don't dump the prices of altcoins, it is just the impact because many of them convert altcoins to Bitcoin. They think that trading or investing in Bitcoin will be more profitable and faster to earn money nowadays. This may be the main reason why the Bitcoin dominates the market while prices of altcoins go down.

Well, then, in order for the cryptocurrency market to develop normally, you need to dispel people's confidence that Bitcoin will continue to grow in value for a long time. Of course, the time will come when Bitcoin can no longer significantly increase in price. Perhaps this can happen much earlier than many people think. If you look at this market, then overall this is already the second year a sad sight. That is why the market itself must find a worthy way out of this difficult situation.