As per Coinmarketcap's data -
https://coinmarketcap.com , Bitcoin is steadily gaining market dominance and I want to know what will be its implications or possible repercussions on the crypto-industry? Any ideas?
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!
You said the reality! Why should we have coins in hundreds and all of them are doing the same thing? I don't think the coins we have now are going to exist for long and people has discovered that Bitcoin is the most reliable among them. Just imagine that people were saying in 2018, that ethereum is going to replace bitcoin!
I strongly believe that in 2 to 3 years to come, bitcoin dominant may cross 90%.