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?
Every day when looking at Coinmarketcap the Altcoin price continues to decline. This is because Bitcoin domination continues to occur. So that the Altcoin holders slowly sell their assets, to move to Bitcoin.
Although Bitcoin is still high in price, it does not guarantee that a rising Altcoin price can occur. The current market is very difficult in predictions and I have suffered losses. I now also decided to move to Bitcoin.
I'm always against with selling because that shows they panic on the increasing dominant rate of BTC.
This is not new, BTC has already been very dominant in the past even higher than 70% in early 2017 and beyond, but look at the good altcoins in the 2nd half of 2017, they started to gain dominance and even enjoy a big jump during the last bull run.
This shows how patience is necessary, we don't panic in times like this, as long as BTC is doing great, everything will follow at the right time.