Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Z-crypt on April 02, 2025, 12:57:23 AM
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
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Do you think it is a good thing for Bitcoin to have this influence ?
You are actually talking not just the influence of Bitcoin here but the very existence of the whole cryptocurrency industry as I don't think all other coins and tokens would be here had it not been for the introduction of Bitcoin and the blockchain technology. Accounting for more than 50% of the market dominance, where Bitcoin is going pulls other crypto assets either to the top or down. Is that good? Yes that is quite good though of course we might say bad if the market is down but this is one big reality we have to face in this open market: volatility.
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Who else would be worthy of such influence?
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Do you think it is a good thing for Bitcoin to have this influence ?
It is very good so that the market can easily be predicted.
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It is very good so that the market can easily be predicted.
We already have too many metrics to work with, I am glad that BTC is the factor that can be worked around in no matter the time frame ;D
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general.
The basic idea is this; virtually all markets require liquidity in order to move now the Bitcoin market is not left out of this even the whole crypto market isn't too. Bitcoin has a very huge price and a huge market cap accompanying it too and as a result of that you will definitely expect its effect on the ecosystem to be huge too.
Volume matters a lot in price movement especially how intense that particular movement would be. This is the major reason why you see it's almost as if the price of Bitcoin indirectly controls the price of most coins on the market.
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it only takes a Bitcoin fud and then prices could be sent straight to the deep hole as long as the community sees it affecting the market. but supply squeeze can also send its price to the sky.
the halving is just one event that influences the entire crypto market. every halving has been celebrated by the community and we are all been watching the effect event if it takes time to happen, we still have that count down.
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Do you think it is a good thing for Bitcoin to have this influence ?
Yes, I wonder what other decentralized cryptocurrency would be better to become the face of cryptocurrency?
The value, security use case and individual preferences has been among the significant effects of this.
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Bitcoin is the first coin that lead the part way for other cryptocurrencies creation however without bitcoin there wouldn't be any crypto coin in existence, that is why bitcoin is considered the king of all coins. If the price of bitcoin gets affected probably by a news that made the price drop to less than $10,000 every coin in the market would also get affected because the most reputable project is down with a huge percentage drop. That is why bitcoin is a huge influence in the cryptocurrency market, besides most coins are tied to the price of bitcoin in the sense that, an increase in bitcoin would also trigger increase in the coin and vise versa.
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The domination of Bitcoin is neither good nor bad. It just is, and pretending it shouldn't be is like arguing gravity is unfair. Literally, the entire crypto economy was formed around Bitcoin. Every smart contract, meme coin, or layer-2 solution lives on the financial and psychological framework Bitcoin developed. BTC represents 90% of the narrative control of the market, not merely 50% of its total capacity. Price discovery? Liquidity? Even the regulatory debate? Whether we wish it or not, all orbits Bitcoin
Why then people still wonder whether it's good? Good for whom? Speculators? Developers? Institutional adoption? Retail bagholders? Good is meaningless to the market. It cares about motion, network effect, and who gets there first. Bitcoin's influence is self-reinforcing because people believe it is. Not only market cap, but also basic memetic strength. Not BTC supremacy is the risk. It's that the rest of the ecosystem still lacks independent identity
Everyone wants altcoins to decouple, but most can't. Still, functionally they are leveraged bets on Bitcoin mood. Nothing changes until we see a genuine, different economic layer developing behind things like DeFi, Web3, or even NFTs that can price themselves without looking at the BTC ticker. The market is still Bitcoin with extra steps
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
I think there's no need to question the effect of Bitcoin or it's influence, it's the prime mover, so everyone has to see where it will be going. And primarily, every altcoins has it's pairing with BTC with that, everything relies on Bitcoin itself.
Although right now it has decoupled with most altcoins as it has been moving by itself with a new all time high pre-halving and most of the altcoins are still suffering.
Nevertheless, the influence will still be there no matter what.
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Bitcoin does not affect altcoins, in fact bitcoin was present before altcoins.. on the contrary, what is worth questioning is the influence of altcoins on bitcoin... we see this as something that already exists (bitcoin) then something new appears (altcoin)... for bitcoin itself until now it still dominates the market, so we can consider bitcoin as the largest entity in the cryptocurrency space,
From me personally, I see altcoin as an alternative coin,,, and my main coin is still bitcoin.. because the main identity of cryptocurrency is bitcoin...
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Do you think it is a good thing for Bitcoin to have this influence ?
Yes, I wonder what other decentralized cryptocurrency would be better to become the face of cryptocurrency?
The value, security use case and individual preferences has been among the significant effects of this.
I’m not against the fact that it’s at the forefront of cryptocurrency, just wanted to know what others think about its influence on altcons price movement because obviously if Bitcoin price moves higher, altcoins wil definitely follow suit and vice versa.
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Bitcoin dominance influence is good for the whole market because with the help of this we can predict the bitcoin influence on other altcoins. And it helps the investors to be safe at their end because when they see the market condition, they will invest accordingly, or they will have an idea of whether this is the best time to enter the market or not, and in this way, we can say that Bitcoin dominance also helps investors in risk management. CMIIW!
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Bitcoin dominance influence is good for the whole market because with the help of this we can predict the bitcoin influence on other altcoins. And it helps the investors to be safe at their end because when they see the market condition, they will invest accordingly, or they will have an idea of whether this is the best time to enter the market or not, and in this way, we can say that Bitcoin dominance also helps investors in risk management. CMIIW!
Exactly.
Before investing in other crypto’s, bitcoin is used as a tool to consider whether of not to partake in that decision.Bitcoin being at the forefront of cryptos guarantees security of funds through the awareness of the market capability at that period seeing it also as the first cryptocurrency and also the most successful.Investors teust on other crypto’s are gained mostly on how well the bitcoin market is doing.
I tend to wonder if there could be any coin that can be replaced as a forefront and i just can’t seem to come across any.With it’s ability to withstand the market as well as accumulate profit, and security amongst others; majority of these benefits cannot be seen in most crypto’s and that is why the investors trust lies on bitcoin.
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Bitcoin dominance influence is good for the whole market because with the help of this we can predict the bitcoin influence on other altcoins. And it helps the investors to be safe at their end because when they see the market condition, they will invest accordingly, or they will have an idea of whether this is the best time to enter the market or not, and in this way, we can say that Bitcoin dominance also helps investors in risk management. CMIIW!
Bitcoin is king, that's why bitcoin dominates the market. And every bitcoin movement will be followed by altcoin. I agree with you, bitcoin's dominance makes it easier for us to predict the market.
in buying and selling altcoins I also often refer to the bitcoin price movement at that time. and maybe other investors use it too.
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In terms of prices, it can have a negative impact just because when Bitcoin goes down, the whole market goes down with it. When prices are up, it also pulls up in some way, but it’s different when the whole market is going down just because of Bitcoin's price.
Being connected to Bitcoin is just natural just because it is the first cryptocurrency, and there is nothing we can do about it
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
I think it is good that there is a coin that can influence the entire market,when there is no such coin that can influence the market like bitcoin what will be the possible outcome of the market condition? Maybe we don't know what will be the possible effect but i can't imagine crypto without bitcoin, this bitcoin is the first cryptocurrency coin and because of this coin cryptocurrency is become so popular so if there is no bitcoin or if Bitcoin failed there is surely a posible big effect maybe negative effects to crypto.
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In terms of prices, it can have a negative impact just because when Bitcoin goes down, the whole market goes down with it. When prices are up, it also pulls up in some way, but it’s different when the whole market is going down just because of Bitcoin's price.
Being connected to Bitcoin is just natural just because it is the first cryptocurrency, and there is nothing we can do about it
BTC is the king, after all. Everybody follows the king (if the coin isn't premined, that is).
BTC is like a filter for the investors, showing whether the market is bullish or not.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
I don't find any bad thing here, I mean, it does not affect the price of BTC, it does not affect the nature of BTC, and it does not affect BTC from any side. BTC is the king, and in the start there was only BTC, so the 100% dominance was due to BTC, and then other alts came into being, which started to attract some investments and took some part of the crypto dominance chart, and with time it started to increase, and that's why BTC has this much dominance today.
But still, if BTC.D is higher than 50%, that means people still find BTC the most profitable investment, but when it starts to go below 50%, then it can lose its value due to selling pressure.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
The only coin that alone has the power to dominate 60% of the market, that won't influence the coin market, then which coin will?
Then I would say it's our good fortune that Bitcoin can influence the entire crypto market. And the reason is that Bitcoin is the one that is fully decentralised, has no owner and the best thing is that it is limited.
If it were like other altcoins or shit-coins, then it would be seen that their owners are increasing the supply in the market or making the whole market as they wish. So obviously it's a good thing for Bitcoin to have this influence.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
Since the beginning, Bitcoin's dominance of the market has always occurred, most altcoins always follow Bitcoin's movement, except when altcoin season occurs, usually Bitcoin is sideways and altcoins progress together to reach their ATH. but yes, the scheme and pattern sometimes change. it's just that, so far, Bitcoin's dominance remains unchanged, even now we are experiencing how Bitcoin's price drops and finally the price of Altcoins also mostly drops, much worse than that.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
Actually, i think that you are express a best opinion in your post. So i am also agree with your prefer comment. We also know that bitcoin is one of the best profitable crypto in cryptocurrency market. So i think that influence of bitcoin will be a common matter in cryptocurrency market. We also know that when bitcoin price will high then others crypto currency market also be high. Another when bitcoin price reach down, then others crypto currency market will be down. So i think that bitcoin influence will remain continue in cryptocurrency market, so i think that this most profitable crypto will be very prefer for your trade or invest.
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The only coin that alone has the power to dominate 60% of the market, that won't influence the coin market, then which coin will?
Then I would say it's our good fortune that Bitcoin can influence the entire crypto market. And the reason is that Bitcoin is the one that is fully decentralised, has no owner and the best thing is that it is limited.
If it were like other altcoins or shit-coins, then it would be seen that their owners are increasing the supply in the market or making the whole market as they wish. So obviously it's a good thing for Bitcoin to have this influence.
Big caps don't resort to such things (or they start out as - unlimited - ;D), but surely, BTC deserves the role of the flagman of crypto. It's rightfully deserved for all the values it upholds.
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We already have too many metrics to work with, I am glad that BTC is the factor that can be worked around in no matter the time frame ;D
Though not all Altcoins are dependent on Bitcoin but most of them do, that is why we can predict what will happen next just by studying the Bitcoin dominance. Bitcoin really has influenced the market a lot and without Bitcoin I don't know what is.
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Who else would be worthy of such influence?
it’s not even bitcoin’s main intention to influence other projects it so just happens that other projects are the ones following bitcoin because bitcoin has set such a standard for them
i can’t think of any idea why bitcoin’s influence will be bad for the rest of the market when most investors are in bitcoin so i think it’s a good reflection of the market as a whole
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Though not all Altcoins are dependent on Bitcoin but most of them do, that is why we can predict what will happen next just by studying the Bitcoin dominance. Bitcoin really has influenced the market a lot and without Bitcoin I don't know what is.
Actually, what I think is that Bitcoin became the reason for the popularity of other altcoin projects to be known as cryptocurrency in today's crypto space, and there was a time when The King Bitcoin was alone in the crypto space, and then it started to get popularity, and then some other altcoin projects jumped into the market after BTC and started to be known as cryptocurrency. So, this is called the great influence of BTC on the whole crypto space. This is just my point of view, CMIIW! :)
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Do you think it is a good thing for Bitcoin to have this influence ?
Yes, I wonder what other decentralized cryptocurrency would be better to become the face of cryptocurrency?
The value, security use case and individual preferences has been among the significant effects of this.
I’m not against the fact that it’s at the forefront of cryptocurrency, just wanted to know what others think about its influence on altcons price movement because obviously if Bitcoin price moves higher, altcoins wil definitely follow suit and vice versa.
Yea, I get this and the question wasn't just thrown out to anyone who mat have answer to it. Although I guess no one has or knows an alternative 8).
As years goes by, it reign will become stronger. I remember when some altcoins years ago do speak about going ahead of bitcoin, especially in value during their promotional marketing of the coin/token but in the end they were eventually scam oftentimes while others are like nothing now.
Now every promotional ads will always speak of Bitcoin as their father recognising it supremacy above others and compares themselves with other mid coin or tokens.
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
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Actually, what I think is that Bitcoin became the reason for the popularity of other altcoin projects to be known as cryptocurrency in today's crypto space, and there was a time when The King Bitcoin was alone in the crypto space, and then it started to get popularity, and then some other altcoin projects jumped into the market after BTC and started to be known as cryptocurrency. So, this is called the great influence of BTC on the whole crypto space. This is just my point of view, CMIIW! :)
My first question is, who did we know as cryptocurrency first?
And I have the answer to this, first we knew Bitcoin as cryptocurrency. And later we now know coins by different names, they are created and they are alternative coins of Bitcoin which we call altcoin for short.
So here Bitcoin is the main one and it will be natural that Bitcoin will influence its alternative coins or influence the market.
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.
Must share your opinion on this; would like to know your point of view, and also CMIIW! :)
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Bitcoin is the first coin that lead the part way for other cryptocurrencies creation however without bitcoin there wouldn't be any crypto coin in existence, that is why bitcoin is considered the king of all coins. If the price of bitcoin gets affected probably by a news that made the price drop to less than $10,000 every coin in the market would also get affected because the most reputable project is down with a huge percentage drop. That is why bitcoin is a huge influence in the cryptocurrency market, besides most coins are tied to the price of bitcoin in the sense that, an increase in bitcoin would also trigger increase in the coin and vise versa.
Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.
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Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.
Currently I am seeing Bitcoin holding almost 62% of dominance from cryptocurrency market cap where Ethereum holding only 8.1% and all the other hold only 29.9%.
Since Bitcoin holds more than half of the crypto market cap, it is natural that Bitcoin will influence the entire crypto market.
As we can say, since big whales have more Bitcoin, they can manipulate the market for a short time, similarly, since Bitcoin has occupied a large part of the market, it controls the market.
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Bitcoin is the first coin that lead the part way for other cryptocurrencies creation however without bitcoin there wouldn't be any crypto coin in existence, that is why bitcoin is considered the king of all coins. If the price of bitcoin gets affected probably by a news that made the price drop to less than $10,000 every coin in the market would also get affected because the most reputable project is down with a huge percentage drop. That is why bitcoin is a huge influence in the cryptocurrency market, besides most coins are tied to the price of bitcoin in the sense that, an increase in bitcoin would also trigger increase in the coin and vise versa.
Bitcoin do not just control the coin/tokens on the market that are tied to it, or the coins that are tied to is blockchain network, but controls almost all crypto assets on the market. There are evidence to the fact that Bitcoin drives the entire market prices, a Bitcoin dump of about 5% will lead to altcoins dropping between 15% to 24%. As a matter facts, Bitcoin remains the king of all crypto and command huge influence both on the trading and investing opportunities with good returns on a regular intervals.
That's true mate and Bitcoin have shown this time without number and that's why when you look at the difference between Bitcoin and other projects, it's very clear that Bitcoin is the main core of the market because over the years if we have been observant of the market we get to notice that whenever Bitcoin is climbing up there are tons of coins that follows it movement likewise if it going down too.
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For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.
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Bitcoin does not affect altcoins, in fact bitcoin was present before altcoins.. on the contrary, what is worth questioning is the influence of altcoins on bitcoin... we see this as something that already exists (bitcoin) then something new appears (altcoin)... for bitcoin itself until now it still dominates the market, so we can consider bitcoin as the largest entity in the cryptocurrency space,
From me personally, I see altcoin as an alternative coin,,, and my main coin is still bitcoin.. because the main identity of cryptocurrency is bitcoin...
I actually don't agree with this because liquidity has a major role to play in price movement either to the upside or to the downside. Basically in the whole of a crypto ecosystem bitcoin has the highest market cap and liquidity which simply means even if it is not directly connected to the other networks it has an indirect effect on them when it comes to price movement.
It may not seem like much but if you observe closely you'll notice that the whole market seems to dump generally when bitcoin is actually dumping there's a lot of logical reasons to this that you just can't dispute.
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For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.
And as we can see now, if the whole market is feeling fear-y and the "Black Monday is coming! ;)", BTC and crypto market goes down with it.
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For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.
This has the effect of making the whole structure feel shaky because the entity in this case relies on one source of movement. You also notice that most projects that can have potential are often likened to a shadow of only one useful asset. That is why when all the further steps are dictated by one basic direction, the chance to observe the logical further development of other projects that should have their individual development pattern, is eliminated. Strange as it may sound, it is not about wishing to compete but to allow each part of the ecosystem to take some air. Should something that is the pillar crumbles then it is not only a technical problem, but the trust created over the years will go down the drain. That is not a small risk, for something that is still progressing there in front of millions of people.
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For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.
This has the effect of making the whole structure feel shaky because the entity in this case relies on one source of movement. You also notice that most projects that can have potential are often likened to a shadow of only one useful asset. That is why when all the further steps are dictated by one basic direction, the chance to observe the logical further development of other projects that should have their individual development pattern, is eliminated. Strange as it may sound, it is not about wishing to compete but to allow each part of the ecosystem to take some air. Should something that is the pillar crumbles then it is not only a technical problem, but the trust created over the years will go down the drain. That is not a small risk, for something that is still progressing there in front of millions of people.
BTC is such a pillar in the minds of the investors and ordinary people alike, everybody looks at it and thinks to themselves what the market is fearing or thinking about.
And I agree with the take of some air taken by other projects, because, honestly, there is no coin that puts toppling BTC as the target - it is either profit or something else completely.
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For me, Bitcoin is similar to the dollar in the global economy, it has a big influence on the price of other currencies. If Bitcoin goes up, other currencies go up too, if it goes down, the same thing happens (most of the time), this has become normal and natural in the cryptocurrency market. The problem is that if Bitcoin “goes bankrupt” it is likely that the entire cryptocurrency market will end up the same way. It is a mistake to link an entire ecosystem to just one currency.
You are right and I think this is because Bitcoin was the pioneer and beginner of the crypto industry, since Bitcoin was the foundation of the Crypto space both in terms of popularity and investors attraction.
As of last year the rate of price increase in Bitcoin sometimes gives a negative price trend to other Altcoins all as a result of it's dominance power.
Though other Altcoins are created on their own Blockchain and they have their own utility and purpose of creation but whenever they come into the Crypto market, they are always being subdued/controlled by Bitcoin trend.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
Bitcoin has a Long history of dominance over the altcoins, it has become a nature of bitcoin with dominant factors like the demand, awareness, adoptions and popularity etc. As many of us know, it certainly obvious that Bitcoin is the first crypto and command a good demands constantly. The demand for Bitcoin over altcoins has greatly influence the altcoins especially if we consider it's marketcap, and trading volume overtimes.
Bitcoin will remain in control of the market as far these factors continue to play out.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
Well, to be honest with you, I do not know if to say it is good or bad, and this is possibly because I hold and trade in both bitcoin and Altcoins..
So, the dominance bitcoin has over other cryptocurrencies is definitely good for bitcoin, as it is an advantage bitcoin holders enjoy knowing well that no other Alt in the market can over power and possibly drive the market without or when the price of bitcoin isn't stable and in support of Altcoin prices going up.
Also, the dominance of bitcoin has made it possible that no Altcoin without strong fundamental and use case survive in the long run..
So let's just say that bitcoin having this influence in the market now seems like a good thing, but then again, I still look forward to the future when the entire market cap of cryptocurrencies becomes more evenly distributed, will be interesting to see what some Altcoins will be worth by then.
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Currently I am seeing Bitcoin holding almost 62% of dominance from cryptocurrency market cap where Ethereum holding only 8.1% and all the other hold only 29.9%.
Since Bitcoin holds more than half of the crypto market cap, it is natural that Bitcoin will influence the entire crypto market.
As we can say, since big whales have more Bitcoin, they can manipulate the market for a short time, similarly, since Bitcoin has occupied a large part of the market, it controls the market.
Why is that so? Because the majority of the investors are holding their major part of their portfolio in the Bitcoin, in this way it holds the big part of the whole crypto market. Other than that, whenever anyone asks me to suggest him/her before investing in the crypto market, I always suggest to him/her that he/she should invest the major part of his/her amount in Bitcoin and a minor part of his/her portfolio in the altcoin market, and he/she should also hold some part of his/her amount in the form of USDT to buy the opportunity while in the dip.
At the end I also suggest one more thing to that person: that he/she should DYOR because it must be done before investing anywhere in the crypto space.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
Bitcoin has a Long history of dominance over the altcoins, it has become a nature of bitcoin with dominant factors like the demand, awareness, adoptions and popularity etc. As many of us know, it certainly obvious that Bitcoin is the first crypto and command a good demands constantly. The demand for Bitcoin over altcoins has greatly influence the altcoins especially if we consider it's marketcap, and trading volume overtimes.
Bitcoin will remain in control of the market as far these factors continue to play out.
Bitcoin will indeed always control the crypto market, because as the king of Bitcoin Crypto is always followed by his movements in the market.
Bitcon is always priorotas.
The current dominance of the crypto market is still held by Bitcoin, but ahead of the Altcpin Season the dominance of Bitcoin will decrease and switch to Altcoin, we just wait.
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Bitcoin will indeed always control the crypto market, because as the king of Bitcoin Crypto is always followed by his movements in the market.
Bitcon is always priorotas.
The current dominance of the crypto market is still held by Bitcoin, but ahead of the Altcpin Season the dominance of Bitcoin will decrease and switch to Altcoin, we just wait.
As the cycle analysis shows, it begins with Bitcoin on every new turn on the graph. It is not just the issues of the numbers and the shares, but the trust which is being developed from the start or in any case is to be created. I understand what you are trying to say that the phase when altcoins come into the limelight can occur at any point in time as soon as Bitcoin slows down. More so, it can be considered as a capital rotation strategy and not a swap of positions. Large investors are aware of the fact that at some point risk is more acceptable and this is where altcoins come in. However, Bitcoin will still be the centre of focus when the market of such cryptocurrencies begins to experience some turbulence. Thus, it is not about leaving domination but about giving a chance to other assets to exist at least.
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Why is that so? Because the majority of the investors are holding their major part of their portfolio in the Bitcoin, in this way it holds the big part of the whole crypto market. Other than that, whenever anyone asks me to suggest him/her before investing in the crypto market, I always suggest to him/her that he/she should invest the major part of his/her amount in Bitcoin and a minor part of his/her portfolio in the altcoin market, and he/she should also hold some part of his/her amount in the form of USDT to buy the opportunity while in the dip.
At the end I also suggest one more thing to that person: that he/she should DYOR because it must be done before investing anywhere in the crypto space.
And why they will not hold their major part on Bitcoin, everyone wants their fund security and guarantee, and in this case Bitcoin is always in the ahead and because in the recent days we saw they are multiple crypto coin crashed totally that's mean if you invested on that one most probably your funds turns down to zero.
And here Bitcoin is rapidly growing and becoming more potential in market and as well in the future it will continue. And that's why I will also choice the same but what you mention the whale follow.
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Do you think it is a good thing for Bitcoin to have this influence ?
Yes, it's very good because we can predict and predict the market very easily.
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Do you think it is a good thing for Bitcoin to have this influence ?
Yes, it's very good because we can predict and predict the market very easily.
In the broader perspective, we all know BTC will rise, with or without such an influence.
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.
Must share your opinion on this; would like to know your point of view, and also CMIIW! :)
oh like that, so it can be said that the increase in bitcoin does not affect the price of altcoins like that, or I have the wrong perception from what I read from previous opinions, this price problem
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.
Must share your opinion on this; would like to know your point of view, and also CMIIW! :)
oh like that, so it can be said that the increase in bitcoin does not affect the price of altcoins like that, or I have the wrong perception from what I read from previous opinions, this price problem
The rise or fall of the price of Bitcoin will greatly affect the price of Altcoins, Because of the fluctuating price of Bitcoin and the dominance of Bitcoin that is increasingly rising, the Altcoin is shaken.
For more details, you can see this Bitcoin Cheat Sheet, How the Bitcoin Price will affect altcoins and when is the time for the altcoin to start rising.
(https://www.talkimg.com/images/2024/01/11/sD5UP.jpeg)
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.
Must share your opinion on this; would like to know your point of view, and also CMIIW! :)
oh like that, so it can be said that the increase in bitcoin does not affect the price of altcoins like that, or I have the wrong perception from what I read from previous opinions, this price problem
We can't really ignore the influence of Bitcoin in the crypto market, after all it's the prime mover so obviously, every altcoin has been traded with Bitcoin since the beginning. And up to know, we've seen that the altcoins is not moving and we might have seen a new cycle as Bitcoin hits new ATH but most of the altcoins are still way below their ATH. But still though, we can't really deny the big influence of Bitcoin that when it moves, we we expect some other altcoins to move as well. And outside of crypto, it is said that Bitcoin is correlated with the movement of stocks as well.
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(https://www.talkimg.com/images/2024/01/11/sD5UP.jpeg)
I have saved the picture just for enhancement in my knowledge, and if you don't mind, I would like to get a little information about aforementioned picture. Well, I have an idea about support, so what is resistance here? It will be nicer of you if you make some difference between resistance and support for my better understanding. Just give a touch of an idea of what I have asked.
Other than that, we also know that these kinds of cheats just help us sometimes to have an idea about market conditions because we can never predict the market so accurately. What do you think? CMIIW!
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I think Bitcoin is the king of crypto, so there is nothing wrong if the value of Bitcoin affects the value of other crypto coins, this has actually become a reality, not an opinion anymore, if BTC goes up it can make other coins and tokens go up, although not as significant as when BTC goes up, but the movement in altcoins is there, even though it is slow
Now here are two points to be discussed, like one is a downtrend and the other one is an uptrend. Bitcoin's downtrend makes a panic condition in the market, and we know the altcoin market follows its moves, so the majority of the investors fetch their invested amount out of the altcoin market for safe play. And when the bitcoin market starts to follow an uptrend, then many of them who took their amount out of the market miss their old entries, and some of them fall prey to FOMO, and this becomes the reason the altcoin market does not move in an uptrend like the Bitcoin market.
Must share your opinion on this; would like to know your point of view, and also CMIIW! :)
oh like that, so it can be said that the increase in bitcoin does not affect the price of altcoins like that, or I have the wrong perception from what I read from previous opinions, this price problem
We can't really ignore the influence of Bitcoin in the crypto market, after all it's the prime mover so obviously, every altcoin has been traded with Bitcoin since the beginning. And up to know, we've seen that the altcoins is not moving and we might have seen a new cycle as Bitcoin hits new ATH but most of the altcoins are still way below their ATH. But still though, we can't really deny the big influence of Bitcoin that when it moves, we we expect some other altcoins to move as well. And outside of crypto, it is said that Bitcoin is correlated with the movement of stocks as well.
I don't study stocks, so I don't really follow the correlation between bitcoin and stocks.
I just focus on watching the crypto market movement and hope that the price of bitcoin will go up again so that the price of altcoin will also go up.
because many people are also waiting for the price of bitcoin to go up again, we have a target to sell our coins and want to make a profit
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I have saved the picture just for enhancement in my knowledge, and if you don't mind, I would like to get a little information about aforementioned picture. Well, I have an idea about support, so what is resistance here? It will be nicer of you if you make some difference between resistance and support for my better understanding. Just give a touch of an idea of what I have asked.
-snip-
You are still asking about the meaning of support and resistance?
Whether you're a complete beginner or you don't learn first, what are the basic knowledge you need to learn in crypto trading.
If you want to get a clear picture of what you're asking, you can search for the information on google or ask in AI chat, then you'll know the full explanation, that's the basic knowledge you need to know.
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You are still asking about the meaning of support and resistance?
Whether you're a complete beginner or you don't learn first, what are the basic knowledge you need to learn in crypto trading.
If you want to get a clear picture of what you're asking, you can search for the information on google or ask in AI chat, then you'll know the full explanation, that's the basic knowledge you need to know.
Haha, I know my question was kind of newbie; I am not a trader, and I took only some trades in my crypto career, and other than that, I have just been holding my asset from a long time. I also know that I can Google search and take the help of AI for the enhancement of my knowledge. My intention of asking it from you is to start a discussion so that those who don't know about these terms will come to know about it from here after they may read our discussion.
Well anyway, mate, if you have suggested using Google search for that, it is a way more batter suggestion to DYOR than to ask or start a discussion. What do you think? Which one will be the best, DYOR or creative discussion? I think both!
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The rise or fall of the price of Bitcoin will greatly affect the price of Altcoins, Because of the fluctuating price of Bitcoin and the dominance of Bitcoin that is increasingly rising, the Altcoin is shaken.
For more details, you can see this Bitcoin Cheat Sheet, How the Bitcoin Price will affect altcoins and when is the time for the altcoin to start rising.
(https://www.talkimg.com/images/2024/01/11/sD5UP.jpeg)
May I ask what is BTC D, I often see people saying BTC is going down and blah blah, honestly I don't know what btc D is and is it the same as BTC in the next column? maybe my question is very old-fashioned, but I honestly don't know what btc D is, I only know the btc that is in trading
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- There is no doubt that bitcoin has strongly influenced the market in this era, especially when it was approved for ETF, which is why now many institutional investors are really interested in bitcoin.
And the dominance of Bitcoin is unparalleled compared to other top altcoins and it is also the most trusted by large companies around the world and also by wealthy people around the world, meaning that bitcoin really has something that other assets do not.
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There is no doubt that bitcoin has strongly influenced the market in this era, especially when it was approved for ETF, which is why now many institutional investors are really interested in bitcoin.
I think two of the major edges bitcoin has in the crypto ecosystem is the strength of its network and the security of its network too. Basically the decentralized network is a quite strong one since there is no central body to control the network or use it for personal gains directly.
Also if you check you find out that bitcoin has one of the strongest adoption intensity compared to every other cryptocurrency in the ecosystem and it has a good price movement record compared to them including current value.
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There is no doubt that bitcoin has strongly influenced the market in this era, especially when it was approved for ETF, which is why now many institutional investors are really interested in bitcoin.
I think two of the major edges bitcoin has in the crypto ecosystem is the strength of its network and the security of its network too. Basically the decentralized network is a quite strong one since there is no central body to control the network or use it for personal gains directly.
Also if you check you find out that bitcoin has one of the strongest adoption intensity compared to every other cryptocurrency in the ecosystem and it has a good price movement record compared to them including current value.
As you pointed, two of the most important aspects that keep people using the Bitcoin are the network strength and network security. cannot be easily manipulated due to its large node point and hash rate which is as high as possible. This is the basis of the public’s trusting this cryptocurrency, or rather, the only basis, given that in the many years of its existence, Bitcoin has proven to be rather immune to external impacts. The latter might change in value, while the stability of the system will not be an issue. Also, as more giants and countries may start to learn or even adopt it, this also has an effect of supporting Bitcoin by default. If analysing the facts with historical and consistency in view, it could be virtually impossible to argue about the steadiness of Bitcoin more than any other digital asset.
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There is no doubt that bitcoin has strongly influenced the market in this era, especially when it was approved for ETF, which is why now many institutional investors are really interested in bitcoin.
I think two of the major edges bitcoin has in the crypto ecosystem is the strength of its network and the security of its network too. Basically the decentralized network is a quite strong one since there is no central body to control the network or use it for personal gains directly.
Also if you check you find out that bitcoin has one of the strongest adoption intensity compared to every other cryptocurrency in the ecosystem and it has a good price movement record compared to them including current value.
And indeed from the beginning that is what bitcoin offers to its enthusiasts and it cannot be denied that people are interested in bitcoin because of this.
That is the advantage that ultimately makes bitcoin gain trust that continues to grow all the time. Where we are not controlled by others unlike currency for example. Although some narratives say whales can manipulate prices, we can continue to grow.
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It is generally known that Bitcoin has a strong hold in the crypto market and it is very certain this strong dominance will continue for a long period. This is due to Bitcoin’s market capitalization taking over half of the entire crypto market which resulted in BTC having the power and influence on the market performance of altcoins in general. I mean BTC price movement affects the entire market. Do you think it is a good thing for Bitcoin to have this influence ?
We may not want Bitcoin to have such big influence in the market but it has already taken that pace ahead of others and nothing can be done about it again at this stage. The good thing is that bitcoin still remains very dominant and leading all crypto space in good narratives and shape. If it was any other cryptocurrency that might have lead the space, we may not live to see the cryptocurrency market so far and might have crumbled. It is a good thing that we never had the choice to chose between any crypto assets to lead the space, and bitcoin already lead the way.
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We may not want Bitcoin to have such big influence in the market but it has already taken that pace ahead of others and nothing can be done about it again at this stage. The good thing is that bitcoin still remains very dominant and leading all crypto space in good narratives and shape. If it was any other cryptocurrency that might have lead the space, we may not live to see the cryptocurrency market so far and might have crumbled. It is a good thing that we never had the choice to chose between any crypto assets to lead the space, and bitcoin already lead the way.
However, it can be safely stated that Bitcoin is an invaluable leader in the cryptocurrency community and there is no one who can argue with it. It gives many people the opportunity to enter a sphere which before was very limited and Bitcoin is the dominant coin. Yet, it has grown from the introduction with different innovations from other currencies and projects of the crypto world. This also proves that market does not necessarily rely on one leader but it can have many instead. Bitcoin sets a stable basis but leaves the freedom for the growth of the ecosystem and its improvement according to the condition of the market.