The BTC dominance has grown from around 50.3% a couple of weeks ago to 62.4% today because other crypto have not climbed as steeply as Bitcoin and because the trash/pathetic tokens and coins have been exposed which means more and more people leaving those behind or cutting their losses but not necessarily purchasing other crypto.
Bitcoin dominance is great but to what percentage? At what point does it start damaging other crypto and stops them being real competitors?
This is not a market that was created for equal competition at all bro.
Bitcoin was released as a mean to revolutionize the worldwide monetary system in a meaningful way. Not, the fact that some decided to be copycats is not Bitcoin's fault. Nothing else is really
needed.Everyone can release whatever they want and the ones who enjoy it can keep it alive with their investments but pretending to be equal or closely equal to the innovator, forget about that since the beginning because it won't happen.
So are you saying Bitcoin will reign with well over 50% of the market for the foreseeable future? I would not bet against that myself because its dominance is the driving factor behind people investing in most other crypto too.
We know there are crypto out there that are more usable technically than Bitcoin such as XRP and ETH but Bitcoin has the brand and community behind it. Surely if it was just about functionality Bitcoin would struggle to be anywhere near the top.