What would happen if another cryptocurrency took Bitcoins place in Market Cap?

[8Habits]

I do not think until that, but because this is a parable, then I will express my opinion. If only Bitcoin was replaced by another Coin as a leader in CoinmarketCap then this would be a very interesting thing. we all know, Bitcoin is the king of Crypto and this can be replaced, so this means that people in Cryptocurrency no longer see Bitcoin is the number one coin, and of course there will be a very strong competition between the top coin in CoinmarketCap.

I will also come into our "what ifs" so in the event, a certain altcoin replaces bitcoin as the new king, then investors may lose confidence in cryptocurrencies as what represent the industry is predominantly bitcoin.

[Umkar]

If the other crypto currency takes the first place in the CoinMarketCap table, this will mean that this coin has moved ahead in terms of the level of capitalization. It will change that bitcoin will no longer dominate the price over other types of crypto currency. At the same time, this new coin will not be short of capitalization for such dominance. That is, the dominant coin will not be and the crypto currency market will, at last. normally develop. I think in general it will be good.

[naily]

I think it is very difficult to happen to replace the position of bitcoin, and if there is an altcoin that replaces the position of bitcoin, in my opinion there is no significant effect on investors, they will definitely invest in the new altcoin

[8Habits]

I think it is very difficult to happen to replace the position of bitcoin, and if there is an altcoin that replaces the position of bitcoin, in my opinion there is no significant effect on investors, they will definitely invest in the new altcoin

I am with you mate in the thought that there will be no other altcoin that could replace the place of bitcoin. The latter is already an institution in the cryptocurrency industry.

If an altcoin will overtake the place of bitcoin, it will not be these days - maybe in the long future.

[ZeroBTC1]

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

Everyone will accept it as it is. But it will be extremely difficult for this to happen.

[anavir]

In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

yes i agree with your statement.no other coins bit bitcoin untill now.People trusted bitcoin and supported it until now so, i dont think it will be replaced with another coin

[t3ChNo]

That might happen or might not. I still prefer BTC to be there on top though.

[Finnong]

Its just a matter of accepting that another crypto emerge better than bitcoin. Accept it and move on by investing on it. It also mean that many will depend on it and will be a source of standard for the other cryptos.

[Ondre]

Then bitcoin will be on the second place. I just see that we’re not always on the top, sometimes we fall to comeout better. If such cryto will be on top, it only shows they surpass the one on top because it managed things well. Sometimes those also on top does not improve anymore that’s why they fail to remain there.

[Ozero]

If any of cryptocurrency takes first place in CoinMarketCap table, there are two possibilities. If this coin will also have a significant level of capitalization with respect to other types of cryptocurrency, this coin will carry a price dominance over the rest of cryptocurrency. If the capitalization level not much will outperform other coins, the price of cryptocurrency market will be relatively free, and I would like to see both at the same time behave coins and tokens. I think this will be a real crypto currency market.

[renz0]

Well, it would still be fine as long as the presence of bitcoin was there. Bitcoin is the first decentralized cryptocurrency created last 2009. This is the basis for emerging other cryptos over the internet. So, no worries if another coin takes the place of bitcoin in coinmarketcap as long as bitcoin's purpose is still there being a digital money, an alternative currency for our fiat money.

[anti76]

If such a coin appears then everyone will start selling bitcoins,which will lead to the decline of the market.In the near future, such a coin will not appear.Capitalization may approach, but it will never be more bitcoin.

[Assface16678]

In that case, that coin would really have a good potential. I cannot see any new coin that can replace bitcoin yet. As we all know, a lot of people already trusted bitcoin and they consider it as the main currency because it's the first cryptocurrency to become very successful and bring convenience to everyone.

This is true. But just like in economy there is competition. One may rise and the other may go down. But it is better for the market if the bitcoin stays at number amd stay being the king of all coins because it is the reason why more people uses cryptocurrency . But if it happens, then so be it. People is good at accepting changes.

[theyRmose]

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

I'm not sure that these two coins can replace the position of bitcoin, even though ethereum has great confidence but it's not enough to replace the bitcoin position.

[gabmen]

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

I'm not sure that these two coins can replace the position of bitcoin, even though ethereum has great confidence but it's not enough to replace the bitcoin position.

Well the question is what if one of them does? Would it be bad for the market? I don't think so. If another coin displaces btc and the top coin, that probably means that btc's popularity dwindled already and a certain coin rose in ranks and acceptance.

[PiPiNoooo]

If this happens, then such a coin, like bitcoin, will have a dominant effect on another crypto currency. That is, such a coin will have to influence the price of another crypto currency.

[RudeeTam]

If ever it did happen, which is improbable by the way, bitcoin will still surpass them at some point since ETH is not built for payments outside of its system and Monero is just creepy with all the extreme secrecy and anonymity.

[Nemhongonie]

At least not for the next 5-10 years. Of course there are many rising competitors like Ripple,  Litecoin and Ethereum.  But Bitcoin is historically the first and best crypto currency. It’s been just a few years since the bitcoin came into existence and there’s still a long way to go.

[setialovers]

So what do you think would happen if another Cryptocurrency (Example Monero / Ethereum etc) were to take Bitcoins spot as first in market cap?

I think its very normal if others coin replace bitcoin as biggest market cap value. I am believe soon or later that will happen because bitcoin only have 21 million supply and others coin have more supply. But in price, i think bitcoin still valueable than others

[KDTnenimo]

I think for me, other coins such as ETH are way better than BTC. I mean the way ETH has been performing with projects and exchanges, it wil overtake it soon. Nut if you're asking if there is a ripple effect, then i guess not really that i know of.