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Author Topic: Are altcoins the future of cryptocurrency?  (Read 201 times)
realsmans
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February 05, 2018, 12:26:36 PM
 #21

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main  contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.
Any coin can change the top currencies, but would they? I can't tell anything about bitcoin, but coin such a ethereum and ripple, has build their framework for pretty long time, and shows stabile growth (if not counting pump in Dec-Jan 2018). So if some project will be so useful and powerful as those guys, it will bit them, but you can't know and can't tell for sure.

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February 05, 2018, 12:32:32 PM
 #22

Bitcoin is like what gold used to be.

Like it or not we're stuck with it for a while.

Altho, history proved us that thoses things are not for ever  Tongue .

On the other hand (as said above), bitcoin will probably have a lower and lower % of the cyptoworld as more and more altcoins are created and used.

At this point, btc is so popular it's almost equivalent to cryptocurrency in general to the public. For better or worse, it's gonna be around for some time.
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February 05, 2018, 12:38:08 PM
 #23

According to me, the future of cryptocurrency is bitcoin and popular altcoins(Ethereum etc) also play a crucial role in shaping the future of the crypto market. As the popularity of Bitcoin keeps rising, more investors will start investing in Bitcoin and altcoins which will drive the Crypto market to a whole new plateau. Based on the supply and demand logic, Bitcoin's value will continue to rise making it more and more valuable which is why I consider it to be the future of the cryptocurrency world while the popular altcoins will also rise in value with time.

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February 07, 2018, 10:07:44 AM
 #24

Yes. Now BTC dominance is around 30%. If you remember it was more than 50% last December. Traders selling BTC to but Altcoins beacuse it seems more profitable.

I also think that exactly altcoins will be used on the cryptomarket for dozens or years and maybe longer. I suppose BTC will be not valued so high as now. Suppose, Ethereum, NEO and EOS can rule the situation in future.
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