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Could Bitcoin loose this year its no.1 place on the coinmarketcap chart? What cryptocurrency do you think it would be able to take its place? by guyfawkes4-20

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· @guyfawkes4-20 ·
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Could Bitcoin loose this year its no.1 place on the coinmarketcap chart? What cryptocurrency do you think it would be able to take its place?
<p>I have to say, this is a great question!</p>
<p>To answer it, first, we would have to think what are Bitcoin's real competitors for the first place, from a market cap standpoint. Looking at coinmarketcap.com right now, you have Bitcoin first with a market cap of 115B; Ethereum with 24B, on the second place, and Ripple on third with 22B.</p>
<p>For Ethereum to reach the first place, it would need an increase of 5X right now, while Bitcoin would have to remain at the same value. Considering that the market moves in trends, that is highly unlikely right now. When BTC is dropping, the alts are dropping, and, the market is rising significantly, only when BTC gets some gains, that is the trend right now, and it is unlikely to change until we get new highs.</p>
<p>Bitcoin is first right now because most people get into crypto through Bitcoin both because it's the most popular coin but, also because it's the most available on fiat exchanges. Besides being a store of value, Bitcoin doesn't have much utility right now, and it only holds the advantage because it's the first and most popular token.</p>
<p>Thus, there is a big chance that a certain flippening will occur in the future. But, what token will take the first place?</p>
<p>As of right now, Ethereum's main advantage is the fact that it is being used in ICOs but, the demand for ICOs has dropped significantly as we were all able to notice it this bear market; thus, the price of ETH dropped as well. The ICO hype is long forgotten, and, in the future, fewer coins will get created since the market is already saturated; thus, Ethereum will be affected by it.</p>
<p>Next, Ripple is highly centralized, and its price is manipulated because a big chunk of the tokens are pre-mined and held by the company. Its use-case is inexistent right now, and it has no chance to reach the first place in the near future.</p>
<p>As a conclusion, a flippening might happen in the future, it is very likely that it will, and we have no idea what coin will take Bitcoin's place but, it will probably be something that we don't even expect. It is improbable that such an event will occur within the next 12 months.</p>
<p>Thank you, and I hope that my answer was of help.</p>
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vote details (4)
@acesontop ·
thanks for sharing your thoughts.
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