Bitcoin's increasing dominance is a good news! Because 99.99% of the cryptocurrencies doesn't have to exist at the first place. We don't really need one cryptos to book movie tickets and another cryptos for recharging our mobile phones! All these can be done using only one single cryptos and that's it! It's better for us if majority of the altcoins shut down their operations because the market is just getting more and more crowded every single day and the investments are getting divided for no good reason!
It is always better to have 3-4 strong cryptos in the market instead of having thousands of weak cryptos with no/limited use case!
But what about other possible use cases and some proposed innovative projects in the pipeline? Will this have an impact on crypto innovation if the industry only see a handful of other coins including BTC as viable and disregard others which might even offer superior features and innovation?
Bitcoin domination does not make a big impact on altcoins. We can all see that Altcoin doesn't give a big surprise. That Bitcoin seems to have declined and the Altcoins also declined.
This is what makes a lot of people confused and lost. Confused because the market looks very difficult to predict. In a few weeks, it seems stable Bitcoin price, but when the price drops and Altcoin also dropped.
Maybe the next Bull Run Altcoin can give you surprises and I am sure this will happen at the end of the year 2019.
Indeed! But I was also thinking if this market dominance is correlated in terms of its adoption rate? If it is, then we might be experiencing a significant milestone on Bitcoin's history!