The "flippening" continues..
In the past few weeks since my last post about the "flippening" the BTC Dominance went from 60% to 45.8% to now 38.6% according to https://coinmarketcap.com/ at the time of this post.
Now a lot of people claim that Ethereum is replacing Bitcoin, which is why this is happening, but there is talk that with ETH at this price it is starting to cost too much for smart contracts.
Not to mention a lot of other cryptos that also have gained A LOT of market cap value since this began.
- Zcash
- Dash
- Monero
Just to name a few.. So I think we are seeing a lot of real world people starting to look at blockchain projects, and seeing the value these projects have, and people obviously want to get in early while everything is still cheap!
Besides the very few cryptos that I have mentioned so far there are so much more coins that used to be less than pennies, and now cost almost $1 or more!
So I think this can really explain why the BTC Dominance is declining, and be careful buying into FUD (Fear Uncertainty Doubt) or FOMO (Fear Of Missing Out) especially before buying into the "Top 10" for sure, because even thought Bitcoin may not be in a bubble.. It is possible that some of these others ARE in a bubble, and we definitely don't want to see a repeat of the tech bubble!
And definitely check out some of the new projects that are out there, because there are great teams and projects working on some great technology, and who knows what the future will hold for the crypto world!
Disclaimer: All of my opinions are only opinions, and it is not investment advice. Please do your own research before investing in anything.
Post - Vote - Earn :D
Omg, it made me astonished when I first heard that Bitcoin was taking less than 50% in crypto market for the first time a few months ago and I didn't realise that it was so quick and now Bitcoin even takes up for less than 40%. It makes me wonder how long does it take for others to take over Bitcoin's throne as the #1 crypto.
I think the last thing you said is key. Even if you don't believe Bitcoin is in a bubble, remember that the other 9 in the top ten are not Bitcoin.
I love Bitcoin, but I loved Myspace too..
Litecoin's volume is more than BTC and ETH . Maybe Litecoin will take some market share
there's bubbles everywhere scary times right now
Thanks @stealthtrader for the Crypto update.
Lucky i played this game when I was young and learned how to claim rewards when the bubbles pop!!!
I predicted LTC a while back would run to almost 50, the same reasoning tells me that Ripple will be next. I have noticed the bigger cryptos take turns, while others rest. LTC was resting until yesterday, and Ripple is still resting.
Here is my latest. https://steemit.com/cryptocurrency/@motowngold/i-was-3-a-bit-early-on-my-litecoin-call-but-right-on-the-money-is-ripple-next
What do you think about Litecoin ?
=]
I think it's cool that they adopted Segwit, and I think it's a lot cheaper to transfer between "exchanges" with Litecoin than Bitcoin (That is if STEEM is not available) :D
Steem - the BEST !
=]
thank