RE: What is this?

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What is this?

in cryptocurrency •  6 years ago 

What is this? A hoax!

Dominance Index is a joke. Ethereum based tokens has distorted and diluted BTC true weight. After the winners of the correction emerge I'd expect bitcoin to break 40%.

But the real story is going to be the rest of the pie graph...

cryptocurrency
6 years ago by

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      ·  6 years ago 

    Why would you think that something like BTC dominance would not be governed by the same sort of fluctuations that prices are?

    But yes. A little further digging after I wrote this shows that "the rest of the pie graph" seems to be the main force at work here. I'll probably dig a bit more and may revisit this topic tomorrow.

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        ·  6 years ago 

      Well Dominance index is a bad metric. Many altcoins need bitcoin and bitcoin is the gold standard for all coins. Bitcoin is the poster boy of the blockchain revolution. The reason why Bitcoin dominance did not fall bc one is well known and the promised tech that bitcoin said it be used came at the end of 2017. Segwit+LN+Sidechains have all finally come. Wether it can be mass used if the question. If so(I believe it can ), Bitcoin will regain many of its former lost shares.

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          ·  6 years ago (edited)

        But Bitcoin dominance has fallen, and it's very near its ATL at the moment. Mass market or not, I believe that BTC will continue to lose market share to the rising number of alts.

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            ·  6 years ago (edited)

          Did you read what I read?

          Well Dominance index is a bad metric.

          What you should look for is the volume. Volume=liquidity=more buyer=more power
          Again now one day but multiple day average of volume would be a better "dominance metric"
          Right now Bitcoin volume is still the largest and most times can't be beat.
          The Bitcoin upgrades coming will give bitcoin a greater edge than altcoins will have.

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              ·  6 years ago 

            We shall see my friend. I still disagree with you, but it will be interesting to watch, no matter the outcome.

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