Quote from: iv4n on August 29, 2018, 09:13:11 AM

Quote from: timerland on August 29, 2018, 08:11:32 AM

Quote from: HeraldoCrypto on August 28, 2018, 06:58:56 AM

BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run?
And how high have you seen it go?

The bitcoin dominance index has pretty much hung around 70-90% for the majority of its life, before the bull market of 2016-2017 that saw a lot of smaller projects, ICOs, and altcoins enter into the space of cryptocurrency.

I think that as long as these crypto projects attracts investors, bitcoin dominance will remain low. However, within the bear market where interest in the market is quite low, it wouldn't be surprising if it went as high as 60-70%, without a bull market.

I don't think that bitcoin dominance really has anything to do with how bitcoin is performing, though. It's about how much hype is around new projects. I do think that in the long run, we'll see a gradual return of bitcoin dominance to its previous highs, as people start to realize how pointless most of these new projects entering are.

Exactly, bitcoin dominance doesn`t mean much, it`s just a marketcap crap. Anyone can make some token, blow the price up and rise market cap, in the same time lower bitcoin dominance. What people should look is trading volume, bitcoin is on top everywhere, while some tokens have daily trading volume couple thousand dollars. Its not a game changer if dominance rise or drop, I don`t know who pay attention on that. I don`t know can anyone find more info about that statistic somewhere else or just on coinmarketcap site. And who knows history of that site knows that they have been accused for messing with numbers couple times in the past.

Unfortunately people seem to be paying a lot of attention to this indicator, and if a lot of people pay attention to an indicator, it eventually becomes a relevant one because behind a lot of people there is a lot of money. Even if we are talking noobs playing with mom's payday to trade altcoins against bitcoin, the sum of it all is a respectable amount, there are a lot of people trying to find the next x1000'er. And im sure there is people with a lot of money that also fall within this group. Having a lot of money doesn't mean they suddenly know where to invest.

As with everything in life, most lose, but as long as the hope is there, there will be money in altcoin market and the indicator will be below 80% (where it should be naturally)

A good article on the dominance indicator and why it's so wrong:

https://medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4