According to Ripple's CEO, Brad Garlinghouse, the Bitcoin dominance is expected to end soon.
He actually said : '' There is a very strong correlation between the price of XRP and that of Bitcoin. But these are essentially independent open-source technologies. »
The man is convinced that we are now witnessing the emergence of a much more rational market. As a result, the behaviour of investors will be permanently altered, which will lead to a devaluation of Bitcoin. Therefore, it will no longer serve as a reference to other crypto-currencies.
Hope he's right
Well, we all hope he is for the sake of sanity as the idea of getting to see the altcoin market bleed all in the name of bitcoin going way down or in the case of a bull run can actually be something funny. It is high time we started seeing the markets independent of each other and purely, it seems we are gradually beginning to see that. We also have to understand that until we really start seeing the market being traded against fiat rather than BTC, we may still have this in play.
I believe that bitcoin can not go below the altcoins. If this happens, the altcoins will not survive. Because altcoins are pegged to bitcoin.
You mean bitcoin will be traded against altcoins ? I just wonder on your perspective. Most times, altcoins do go up whenever bitcoin is falling down but in recent times both bitcoin and altcoins together was falling down. I mean anything may happen at any time, no exceptions.
