RE: Bitcoin's Reduction In Dominance
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Still a long way to go, repeat of 2017. Bitcoins dominance I think fell to around 30% and Ethereum was catching up. Ethereum always has a good chance of being the overtaker but yet again 3 I would say even 4 years later the same issue is coming up which is starting to stagnate crypto again and that's speed and fees of transactions.
There are a lot of alternatives now though the issue is non of them are really adopted into the networks yet. If we don't see one of the two following things happen soon it could stagnate things and see a hard sell off again.
Ethereum fixes their fees asap and speed asap talking next 3-6 months
Adoption of faster and lower fee blockchains are taken hold by games, marketplaces etc. Will create one of the biggest altcoin seasons ever and Ethereum's price will come crashing down.
That could be true. However, if someone else (or many others) step up, wont that, in totality, compensate for what is lost with Ethereum, thus further reducing the dominance of BTC.
People keep looking for an alt season referring to price. However, the alts were developing the last few years (and continue to do so). This leads me to believe it will eat up a larger portion of the future crypto-based activity.
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Yep for sure it's possible as long as those blockchains have and build use cases. Many like Polkadot and a few others that are side chain I think will be the ones that get adopted in faster than a brand new blockchain.