Quote from: ven7net on Today at 05:34:43 PM

Quote from: Nickbryan10 on May 04, 2021, 11:41:50 AM

Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

I love ETH and have been working with it for over three years now, but I cannot say that ETH negatively affects the price of BTC. I believe that everything that happens to crypto prices, for the most part, is manipulation by large players, and when you see that, for example, the price of BTC falls, this does not mean that it was influenced by ETH or another cryptocurrency. This is all the game of big players who make money on these manipulations. But no matter how it was, the price of ETH will still not be able to become the same as BTC, which means that ETH will always be at least the second number, which is also very good.

It certainly does not negatively affect the price of BTC. It rather pulls audience into the market that also buys BTC in the end. I would describe as if they work hand in hand together, but given the different and important use cases they serve it wasn't all too shocking that one day ETH will make up in terms of market capitalization and market share. BTC dominance has no real importance any way and I expect it to decrease further. How else could it be if on the one hand you have 10,000 projects and on the other hand BTC.