Quote from: South Park on August 15, 2019, 10:02:01 PM

Quote from: Abiky on August 15, 2019, 07:14:05 PM

Over the past months, Bitcoin has been rising in market dominance at a fast pace. Altcoins have been on a constant decline in price ever since the bear market began back in 2018. They've been the ones which suffered the most, while Bitcoin has obtained greater prominence within the crypto market.

Which is why, it wonder me wonder why Bitcoin's market dominance have been rising so fast? What could be the cause of this? Will altcoins die soon, as a result of Bitcoin dominating the whole market? Or will they still survive?

So far, Bitcoin has gained the attention of people within the mainstream world, especially since it's one of the most limited cryptocurrencies in supply with an outstanding development team. The Lightning Network is its most interesting feature yet, leaving many wondering if it will render altcoins obsolete. If this indeed happens, then Bitcoin would effectively centralize the whole crypto market. What are your thoughts about this? Huh

There are several possible explanations about why this is happening, one is if there is an increase in the number of cryptocurrency users around the world most likely the first crypto they will ever buy will be bitcoin, this happened to me and I am sure that I am not an exception, but as they learn more about the market they will decide to diversify their holdings and will buy altcoins making the market dominance of bitcoin to go down.

Another explanation is simply that many of the altcoins in the market were not worth their price in bitcoin and that is why they have been suffering a long decline, and finally it is also possible that many investors seeing that bitcoin showed signs of a bull run decided to sell their altcoin holdings and this caused the general uptrend in the market dominance of bitcoin.

This could be also because the doubters are turning to be a believer, after doubting bitcoin, making allegations, rumors, and other gibberish things about bitcoin. I'm guessing it won't take that long for bitcoin adaptation dominate the whole world, including the Government that is been spreading FUDs to the public which is exasperating. Well they can't help but to spread bad rumors about bitcoin because they are mad for not having control on it.