INTRODUCTION

In the lecture by professor @imagen, he defined dominance and linked it to cryptocurrency, which really made the whole crypto dominance concept easy to understand. but now i will in my own words, explain all i know and understand by dominance in the crypto world.

QUESTION 1A: The concept of dominance in the crypto world.

Cryptocurrency dominance in my own words and understanding is how big, trusted, and reliable a coin is in comparison to all other coins. It could also be understood as the number of investors and buyers a coin has in respect to the other coins, and also the total market cap of a coin in respect or ratio to the total market cap of the whole crypto world!!.
this is how i understand it, and I think it'd be better if things were said in plain English more often. Now, below i'd talk about the concept of crypto dominance, and how dominance in the crypto world is ascertained:

Concept of crypto dominance.

Okay so imagine if you have 11 sisters, and you're the first born, let's say you're also the only boy, and let's use a typical African setting. Now also let's imagine that your dad is the king of a community, and is so rich in lands, let's say he has 1000 different plots of lands around the vicinity. Now, your dad dies, and leaves an inheritance for you, obviously as the firstborn, and his only son, heir to the throne, your inheritance will definitely be overwhelming. at least 50% of his land is yours. Meaning you are sure of at least 500 lands, while the remaining are shared amongst your sisters. This is a nice illustration of dominance. Now in cryptocurrency, the firstborn and only son, in this case, is BITCOIN.

Bitcoin is currently the most dominant crypto coin, and it is actually losing its dominance (it's birthright in a way) at the moment, as earlier this year it was about 70% dominant!!!.

QUESTION 1B: Bitcoin's dominance at the moment.

trading view link

At the exact moment of doing this assignment, BTC's dominance was moving between 41.37 and 41.38% dominance. a lot of things have happened to the market and the dips have been more recent and plentiful, and the Rise of new coins have been occurring more often, which makes the share of the crypto market capitalmore spread out and therefore reducing the overall dominance of bitcoin in the cryptosphere.

source
BTC: yellow line ETH: purple line DOEGE: green line

BTC's dominance is now rivaled by so many contenders, it's like a handicap to me and in my opinion, the altcoins might be the future of the crypto world.

source
above is a graph, showing in general, the highs and lows of BTC'S dominance over other coins. In case you can not see the values clearly, it is showing that at the highest point of this year on the graph, bitcoin's dominance was at about 70% and at the time of doing this homework, it's dominance was at 41.28! it's still dropping slightly as we speak.
this is how the formula for calculating bitcoin dominance below:
BTC domination = BTC market cap/ total market cap.

QUESTION 2: Two scenarios where the market had strong falls and affected currencies.

INSTANCE 1

2021! actually few days ago

well here I'm going to be talking about a strong fall in the market that happened very recently. BTC's dip from $55000 to $45,000 in roughly a day!
and as we have learnt from the lecture, btc price affects a lot of other coins, so let us check out what other coins were affected by this drop in btc price by 13th of may. Below is the chart showing the drastic fall in btc price in one day.

Btc drop on 12th-13th may from $50k to $45k, that is a whooping $5000 minus in the market in the space of one day!!
and keeping in mind that BTC is the most dominant of coins at the moment, there is no doubt that this fall must have affected the majority of cryptocurrencies available. Bellow, i showed two of the biggest altcoins being affected by the drop in BTC also.

XRP {Ripples} drop on 12th to 13th may from $1.5k to $1.2k, that is a drop in price of about $300 in the xrp market. This past few days might have been hell for holders as a lot of coins dropped in price drastically within few hours of the day.

ETH {Ethereum} drop on 12th to 13th may from $4.3k to about $3.5k in a day, keeping in mind that ethereum could be regarded as a large cap coin, and it's changes in prices happen rather slowly, so for this to happen in a singe day?, must be something!

INSTANCE 2

2018 price drop!
Some coins that were affected:
BTC
ETH
XRP

BTC's drop in 2018

this fall was a long lasting fall, and it lasted for most of the year 2018. Till date, 2018 is stil referred to as bitcoin's worst year in the market, and it's fall also drastically affected a number of other currencies.

ETH's drop in 2018

XRP's drop in 2018

other coins affected in 2018

coin name	from	to
EOS	$21	$1.5
LTC	$231	$23

EOS drop in 2018

LTC drop in 2018

QUESTION 3: what is the altcoin season?

The altcoin season is the duration or period of time, where more people buy other coins more often than they buy BTC. altcoins stand for alternative to BTC coins, and when altcoins gain more ground on the total market cap, that period of time is known as altcoin season.

In myi opinion, i think that the altcoin seaons will last longer and be more frequent because of the increase in the price of altcoins, and also because of increase in the number of altcoins.

the black dots in the dominance graph above show a time in 2018, when the altcoin season was so strong, as you can see, their lines were almost meeting at a point. That is a good way to picture altcoin season, whenever the dominance is just droping, and other coins are still prospering, it means the altcoin season is on!

so that automatically means that right at this moment, altcoin season is on, another way to know when we are in altcoin season is when BTC's dominance falls to less than 50% as it is at the moment, and as it did in 2018.

QUESTION 4: description of 2 altcoins in the top 50

DOGE COIN

Doge coin was created in 2013 by two software engineers namely; billy marcus and jackson palmer who at the time created the coin as a method of payment, in the form of a joke! because apperently there were speculations of failure happening in the crypto world at the time. Elon musk, one of the richest men in the world, and also the ceo of the tesla company is in full support of this coin for some funny reason, and has raised the popularity of the coin massively since he joined the doge campaign.

statistics about doge coin

price	$0.5
market cap	$64,619,235,986
circulating supply	129,610,402,708 DOGE
volume(24h)	$24,778,893,595
ranking on coinmarketcap	5th

ETHEREUM

ethereum is a pretty awesome open-source blockchain that uses ETH (ether) as it's main currency, it is known as the most used blockchain, and it permits smart contract transactions within blocks.

Ethereum was first proposed by a programer named Vitalik Buterin in 2013, but officially went into the crypto market in 2015.

ethereum's initial supply was about 72 million ETH at it's starting year, and supply gradually increased after that. it is a decentralized block chain, and permits more freedom of interaction between users of the blockchain.

statistics about ethereum

price	3779.64
market cap	$433,663,887,996
circulating supply	115,885,718 ETH
volume (24h)	$42,006,800,058 ($11,225,256)
coinmarketcap ranking	2nd

QUESTION 5: how does relevant news affect market prices in a negative or positive way, give three instances.

news and updates can increase the general interest of the investor into a coin, and it could also decrease it just as fast. imagine you saw on the news that all ketchup made this year were made with blood, you sure wouldn't like to get some ketchup. This is the same effect that news would have on the crypto market.

3 instances where news affected price:

ELON MUSK

Elon Musk has been changing the market price for a few weeks now with his tweets which make the news all over the world.

Instance 1

above is a screenshot of a tweet by elon musk implementng doge as the sponsor of his spacex project. The tweet was not even 5 hours old yet, and a significant pump in the price of DOGE was noticed as seen below.

instance 2

on may 8 2021, elon musk hosted the saturday night live, and was asked about DOGE coin, he replied severally correctl to what the DOGE coin truly was, but when asked severally "what is doge coin?" he agreed that it was a "hustle"
as soon as the show was done, if not sooner,
doge coin dropped by about -35% as seen below:

instance 3

sometime after elon musk invested $1.5 billion into btc, the price began dropping spontaeneously. Then on march 24th, elon musk makes three consecutive tweets about how you can buy a tesla with bitcoin, herefore promoting it. this caused a steady rise in the price of bitcoin as seen below.

QUESTION 6: Describe safe moon

SAFEMOON

Safemoon is a very new token, it is said that it has little or no history at the moent, and that is how new it is. there are speculations also that it is the heir to the throne of doge coin, as they both have the to the moon concept is a thing going on. It started with a price of $0.000000001, that is like it starting as a free token right?, it was so valueless, that investors were scared, and are still scared to invest into the token, despite all the encouragement from the safemoon board to hodl the token.

safemoon statistics

price	$0.00001019
market cap	$5,962,378,295
volume (24h)	$54,502,810
circulating supply	585,536.37B SAFEMOON

CONCLUSION

Crypto dominance is a vital concept to understand, as it could guide you on where to invest at a paricular time. understanding the altcoin season is also to ensure adequate spread of cryto capital to the right altcoins at the right time. I enjoyed doing this assignment, and i hope you enjoy going through it. thank you @imagen for the wonderful lecture.

all charts are screenshotted from trading view and coin market cap
the tweets are screenshotted from twitter