According to the Coinmarketcap website, Bitcoin dominance has breached the 60% level and is now reported at 60.1%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 64%, while the altcoin market share has dipped below the 36% mark.
I am sure that a lot of users may be unhappy about this, but I am delighted as more than 90% of my crypto assets are in the form of BTC. I had sold most of my alt holdings in 2018.
I am not very sure about the reasons behind the rising BTC dominance. But I suspect that the users have become more matured now, and a lot of them have realized that investing in shitcoins is simply not worth all the risk.
Here is my outlook for the major cryptocurrencies:
1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.
2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.
3. XRP: I would say that this one is the most worthless and unreliable altcoins among the top 10. Therefore I am not surprised by its falling market share.
4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.
5. LTC: One of the best performing alts. However I won't be surprised if a correction occurs post block reward halving.
6. EOS: I don't know much about this coin.
7. BNB: I would consider this coin as overpriced. A correction is due.
8. BSV: A lot will depend on the future actions of CSW. Very unpredictable coin.
9. USDT: Everything was going well for Tether until the scandal at Bitfinex was revealed to the public. Now a lot of the users don't consider this coin as a reliable stablecoin. In the near future it will be facing a lot of competition from the other stablecoins.
10. TRX: An overpriced shitcoin. I don't have anything good to say about this one.
One thing almost everyone in this crypto world doesn't know is that dominance is calcualated on the basis of market capitalization of every coin while the market capitalization is calculated using the simple formula of price x no. of coins in supply. Now the scam here is that whenever the price of any coin increases its market cap would automatically increase. So prices of all other coins as you know is stagnant or crashing while btc is growing this is the reason why dominance is increasing.