Quote from: Malam90 on July 24, 2019, 09:52:30 AM

Quote from: kryptqnick on July 03, 2019, 02:39:05 PM

I've been following Bitcoin's market dominance for a while now. And before the current bullish trend, it used to decrease as the market was growing. I even noticed the correlation between the prices going up and the dominance going down and vice versa. Take a look at this interesting chart: https://coinmarketcap.com/charts/#dominance-percentage. Specifically, at what happened at the end of 2017. Bitcoin's price sky-rocketed, but so did the prices of altcoins. They were kind of fueling each other and thriving. Bitcoin going up coincided with the market of cryptocurrencies expanding, and alts taking up a bigger and bigger part of it. BTC dominance went almost as low as 30% back then.
When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?

BTC has been dominating from the first but after 2017, the dominance percentage was nearly 50%. From April 2019, the dominance % has increased to 63%. It is dangerous for the growth of crypto market especially altcoins market. Maximum coins are at the edge of destruction.

What I'm curious about is if btc could even survive without a proper alt market. It's not like btc's volume mostly comes from actual use -- nobody really uses btc to buy goods. There is of course btc trading for fiat, but I expect a large percentage of btc volume involves trading with alts. But when dominance is this high, alt volume goes down ... so eventually if alts get crushed into smithereens, and btc dominance goes crazy, who will be trading btc for alts anymore?