All Hail King Bitcoin: Why BTC Remains #1

[serjent05]

Because most of us believe and support Bitcoin the most, there is no way Altcoin can replace it since Bitcoin was born, which shows how important and practical bitcoin is, and altcoin also affected much when the volatile market of Bitcoin.

Aside from that institutions are more focus on Bitcoin than altcoins.  So intitutional funds flow to Bitcoin market and this is one huge advantage against altcoin.  The security of its network is also one of the reason why bitcoin remains #1.

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[proTECH77]

From what I can deduce, the rise of Bitcoin always need to the down fall of Altcoins and what we have seen this year was just a repetitive of what we had seen some few.years back, but something shocked me recently that after the rise of Bitcoin the price of Altcoins where down and even when that of Bitcoin was down the Altcoins still go down the more, this made me to ask if the system have change. Bitcoin is the king and all Altcoins knows.

[tsaroz]

The reason for success of bitcoin are the institutional investors. Many hedge funds and traditional investors have invested in bitcoin as one of the fastest growing investment. They might know nothing about crypto but they knows bitcoin can give them profit. For these people and funds, bitcoin is the only crypto. Though some have looked further onto other possible alts but still Bitcoin reamins the choice for every new person entering the crypto market.

[finaleshot2016]

Because most of us believe and support Bitcoin the most, there is no way Altcoin can replace it since Bitcoin was born, which shows how important and practical bitcoin is, and altcoin also affected much when the volatile market of Bitcoin.

Aside from that institutions are more focus on Bitcoin than altcoins.  So intitutional funds flow to Bitcoin market and this is one huge advantage against altcoin.  The security of its network is also one of the reason why bitcoin remains #1.

Some of the altcoins are dependent on the bitcoin market so it's very impossible for the altcoins to surpass the bitcoin. The bitcoin will still remain the number one cryptocurrency in the world. Just a fact that can't be edited, being number will exist forever.  

[Successmaniac4]

A coin that has been tested over time and still remains king us worth praising. Its been more than 10 years but no cryptocurrency has been able to overthrow Bitcoin in terms of popularity and price.

[CoinClarity]

that is a very common misunderstanding about bitcoin price and altcoin prices rising together. the fact is that it ALWAYS worked the same way, when bitcoin rises altcoins fall. and this year is no different from others either, the same pattern is being repeated.

Not necessarily. For the most part of 2017, BTC market cap dominance was dropping, and this is because altcoins were rising faster than bitcoin. Bitcoin reached its all-time high, and altcoins reached significantly higher highs, in some cases by hundreds of percent.  

Likewise, when bitcoin fell, altcoins fell faster, because they are the riskiest investment in a high risk investment class.

This was always the trend until 2019, when now BTC is rising but altcoins, for the first time, are not keeping up. That's because in 2017, people placed too much confidence in the future of altcoins, in 2019 we are more skeptical, and wiser.

[jostorres]

I could remember vividly that prior to bitcoin bull run in that 2017, bitcoin had actually been growing in price too, and it grew from the lowest point whereas was and at a point had a shirt bull run like this that made it about $1000 or so in April 2017, it was after it grew to $1000 that the bull run of bitcoin started and not until during started that we also saw altcoins season began also.

What has happened now that made bitcoin grow from $3000 to its current stage is still about what happened then, although this time around, altcoins bled deeply more than they have ever had in the past, but I believe that once the bull run of bitcoin comes fully, they will mostly follow the same patter too as many altcoins will grow same and bitcoin is growing. It is not just their time yet, but will be soon.

[Onuohakk]

Nothing remains on top forever as they say but I don't see any altcoin that will ever beat the price of bitcoin. Bitcoin is the leading king of all cryptocurrency while others follow. We are hopeful that altcoin will be at the high side soon when bitcoin reaches $25k this year

[BitHodler]

For the most part of 2017, BTC market cap dominance was dropping, and this is because altcoins were rising faster than bitcoin. Bitcoin reached its all-time high, and altcoins reached significantly higher highs, in some cases by hundreds of percent.  

What accelerated the fall of Bitcoin's dominance was that most altcoins had insane total coin supplies, while only a small portion of these altcoins were in circulation. Basic law of supply and demand then does the rest of the work.

I never liked the way market caps of coins are being calculated when it comes to tokens that have been printed out of thin air and of course the forks. It's impossible for Bitcoin not to lose market cap dominance.

This was always the trend until 2019, when now BTC is rising but altcoins, for the first time, are not keeping up. That's because in 2017, people placed too much confidence in the future of altcoins, in 2019 we are more skeptical, and wiser.

I don't think we'll see a mega altcoin season again similar to the one in 2017, but I doubt that people have become more skeptical and wiser. Once altcoins start increasing harder than Bitcoin we'll see people lose their mind again.

[deisik]

This was always the trend until 2019, when now BTC is rising but altcoins, for the first time, are not keeping up. That's because in 2017, people placed too much confidence in the future of altcoins, in 2019 we are more skeptical, and wiser

There are visible holes in your theory

As it doesn't explain why we actually saw major altcoins surge way stronger and faster than Bitcoin just after the latter had started to recover in early 2019 (i.e. this year, not 2017). I'm not even talking about Litecoin here with its monumental gains (as I have already mentioned it earlier), but other major altcoins easily outperformed Bitcoin too at first (and their 2019 gains are still not broken by Bitcoin). For example, Bitcoin Cash rose from below 100 dollars to over 550 (which is a 5.5x gain, for starters), Ethereum rose from 100 dollars to over 360 (quite on par with Bitcoin)

But there is a very simple explanation which I already hinted at here and elsewhere. The truth is, there is actually no such thing as lack of confidence in the future of altcoins, there is only lack of pump, which Bitcoin enjoyed till recently (and hopefully, will continue to enjoy in the future), while major players in the altcoin field enjoyed it earlier this year and are now being dumped. There is no reason to think that things are going to remain this way in the future simply because all cryptocurrencies including Bitcoin are pure speculation

[killat]

Sadly.. no one is realizing that what is going on with central banks and the US dollar and how Btc can solve a lot of fiat issues. Boom / Bust / Boom / Bust, and the rich get richer, and poor get poorer and no one is going to jail for this.

No one is even talking about it. No one is even allowed to check what the Federal Reserve is doing. "But im not an American, why should I care?" -Well unless you live in North Korea, Iran or Cuba, unfortunately, you are shit out of luck since they control all central banks. It used to be Afghanistan, Libya and Iraq too but we all know what happened to them..

[Gi01]

Whether people like it or not, bitcoin always remain the king of cryptocurrencies. Bitcoin introduced blockchain technology to the massive public and the world is gradually adapting this technology in terms of financial institution and public platforms. Once blockchain technology exist, bitcoin will always be number one..

[minersday]

Honestly speaking bitcoin is the best cryptocurrency as at now in this industry. Looking at the services and the packages bitcoin offers to investors and traders, there's no doubt that bitcoin is the number one and top leading cryptocurrency.

It's not about bitcoin being the best cryptocurrency at the moment. Bitcoin will always be ranked first above any other cryptocurrency even if they are a lot of crypto coins that have faster transactions speed and easy to use. Blockchain technology is the reason why it will always be first no matter the year era we find ourselves

[1Referee]

This was always the trend until 2019, when now BTC is rising but altcoins, for the first time, are not keeping up. That's because in 2017, people placed too much confidence in the future of altcoins, in 2019 we are more skeptical, and wiser.

Altcoins have done well before Bitcoin finally woke up and started to pump like mad.

People keep talking about where altcoin season is, but we may have seen it take place this year already. It just wasn't the big boom explosion people hoped it would be and for that reason didn't consider it an altcoin season. I even remember myself months ago stating that we might be in an altcoin season already with how they had some pretty significant increases across the board.

Relatively speaking, altcoins are still doing well against the us dollar. It's just their Bitcoin comparison that has tanked hard.

[maxreish]

You have said it almost all the reasons why bitcoin remains the number one in cryptocurrency. IMO, aside from it was the first coin in crypto space that was discovered, the greatness it brings of the technology given by bitcoin is one of the reason here. And because of that, investors tend to choose to invest in the most established, most reputable and most trusted coin, and that is Bitcoin.

[Abiky]

Nothing surprising at all. The king will always be the king no matter what anyone thinks. It got the advantage of the first cryptocurrency to achieve insane popularity and that won't simply change all of a sudden just because there are better alternatives out there.

Bitcoin is basically the best of everything mixed in one package(Anonymous, Decentralized, New tech etc). No matter how volatile the market is, BTC will always be the safest coin to invest in the short term and the long term.

Agree. Bitcoin will always be the "King of Crypto" because of its first-mover advantage in the market. No matter how hard alternative cryptocurrencies try to overcome Bitcoin, they'll never succeed because the pioneer cryptocurrency it's the most trusted digital currency worldwide. Despite the slow transaction confirmation times, and high fees, Bitcoin has a great number of supporters behind it. Being one of the most limited cryptocurrencies in supply, it has obtained a highly valuable price over time.

Not even Ethereum has been able to overcome Bitcoin despite being a highly successful smart contract platform. It shows us that Bitcoin will be here to stay for a long time as the #1 cryptocurrency in market cap, unless a brand new cryptocurrency comes into the scene with a better technology than Blockchain itself. The fact that Bitcoin is the largest cryptocurrency in the world, has allowed it to be used as the reserve cryptocurrency of the whole crypto market. Without Bitcoin, none of the altcoins we know and love today would exist. It's the original cryptocurrency which started this whole crypto craze.

Nonetheless, it's said that most altcoins will die within the long term. If this becomes a reality, then Bitcoin will remain as the "King of Crypto" indefinitely. With upcoming improvements such as the Lightning Network (for instant and near-free transactions), Schnorr Signatures, and Sidechains, no other cryptocurrency will be able to stand against Bitcoin within the future. Just my thoughts

[bryant.coleman]

The harsh truth is, Bitcoin is not very different from same Litecoin

Or any other altcoin from the top 10. Technically, it is just a matter of personal preferences ("there can be only one") and nothing more. Bitcoin is as speculative as any altcoin out there. So if these preferences change one day, some altcoin will get pumped instead of Bitcoin, and Bitcoin will be stagnating or even going down. Litecoin and its price dynamics prove exactly that

And at its recent highs, it made like 600% gain (from some 22 dollars all the way up to over 140). But what's more intriguing in the context of this opinion piece is the fact it can easily get there again, in a couple of weeks or so. Also, I didn't quite like OP referring to or insinuating Ethereum as scam, which instantly discredits the whole article

Yes. Bitcoin is not very different from Litecoin. Wait... that is not the right order. "Litecoin is not very different from Bitcoin" sounds better. Bitcoin was invented in 2008 and was first mined in 2009. Litecoin came in to existence three years after that, and there is hardly any difference between these two coins as far as the logic and usage is concerned. But the most important fact to remember here is that Bitcoin was an original innovation, while Litecoin is a copycat. Now tell me why anyone should invest in a copycat while discarding the original?

The second part of your post is correct. At times, investing in Litecoin can be extremely profitable for the users. I myself got 1,200% returns during 2013 after investing in Litecoin. That said, I don't think that Litecoin is the most promising coin out there right now. There was a spike owing to the block reward halving and now the prices will crawl back to the previous levels.

[SirLancelot]

Bitcoin is not very different from Litecoin. Wait... that is not the right order. "Litecoin is not very different from Bitcoin" sounds better. Bitcoin was invented in 2008 and was first mined in 2009. Litecoin came in to existence three years after that, and there is hardly any difference between these two coins as far as the logic and usage is concerned. But the most important fact to remember here is that Bitcoin was an original innovation, while Litecoin is a copycat. Now tell me why anyone should invest in a copycat while discarding the original?

Which of the halving spike, are you talking about this recently concluded halving or the previous one before this, because I did not see any spike in the price of Litecoin on this recently concluded one, the only tiny surge that I saw was as a result of the increase in price of bitcoin too during that time, which I would call a coincidence, so Litecoin for me never responded to the halving.

I think you are right, people are beginning to reason well too that why would they invest in a copycat of a program when the original one as we know will always be better than the clone, and aside this, altcoins are losing it generally now as many investor would rather have majority of their investment in bitcoin and share little with altcoins, so I don’t see bitcoin dominance becoming over for now.

[deisik]

The harsh truth is, Bitcoin is not very different from same Litecoin

Or any other altcoin from the top 10. Technically, it is just a matter of personal preferences ("there can be only one") and nothing more. Bitcoin is as speculative as any altcoin out there. So if these preferences change one day, some altcoin will get pumped instead of Bitcoin, and Bitcoin will be stagnating or even going down. Litecoin and its price dynamics prove exactly that

And at its recent highs, it made like 600% gain (from some 22 dollars all the way up to over 140). But what's more intriguing in the context of this opinion piece is the fact it can easily get there again, in a couple of weeks or so. Also, I didn't quite like OP referring to or insinuating Ethereum as scam, which instantly discredits the whole article

Yes. Bitcoin is not very different from Litecoin. Wait... that is not the right order. "Litecoin is not very different from Bitcoin" sounds better. Bitcoin was invented in 2008 and was first mined in 2009. Litecoin came in to existence three years after that, and there is hardly any difference between these two coins as far as the logic and usage is concerned. But the most important fact to remember here is that Bitcoin was an original innovation, while Litecoin is a copycat. Now tell me why anyone should invest in a copycat while discarding the original?

Define invest here

If by investment and investors you actually mean speculation and profiteers, these folks don't care what asset to invest in as long as it gives them enough opportunity to earn dough. Litecoin fits this scheme perfectly which you seem to admit and agree with in the second half of your reply. The point is, both Bitcoin and Litecoin are speculative assets, so there is not much difference between the original and the copycat in this regard. And while you are busy defining the invest thing, also don't neglect to define "the most promising coin" thing as well since different people may have very different ideas on what a coin may "promise" them (and how much, for that matter)

[Nellayar]

Why BTC remains number 1? Because bitcoin is the most popular coin in this industry. Many investors have already put their trust in bitcoin rather than on any other investment. Bitcoin helps the community and give an opportunity for individual who cannot find job nor make his own profits. Bitcoin is awesome, that is why it is coined the King.