Ethereum giving bitcoin a hard chase

[Nickbryan10]

        Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
         Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

[virtualdn]

Everything is relative in the crypto market. Just because something is like that today it doesn't mean it will be forever. BTC is the first coin and everything else is just a copycat based on its technology. Choose wisely.

[c_atlas]

The thing I find most interesting is ETHs market cap today is higher than BTCs market cap at the peak of the 2017 bull run. That must have some implications for the floor for BTC, don't you think?

[jesselui]

        Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
         Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

Although Bitcoin is in a downward trend, ethereum manages to move itself up a little more every day. If we think in the long term, it is inevitable that ethereum will surpass bitcoin. I think Ethereum will exceed 5 thousand dollars in a few weeks.

[(o)(o)ilikeboobs(o)(o)]

The BTC.D domain is falling, and that's the law of the market. I have been observing the market for months and the times when altcoins have outperformed BTC by a lot. I believe that the FOMO of the market will not last long until BTC starts to fall.

[Pandji02]

I think that's just a matter of time for someone to drop BTC from pedestal. But BTC has plenty of it. At least for 5-10 years bticoin will be the top 1 crypto.

[btc_angela]

Is there really a competition between Bitcoin and Ethereum?

Two different set of crypto, so why the comparison in price? and it's not even close though, Ethereum will have to do x10 to really be at par with Bitcoin. And I doubt that it could reach that far to even say that it is giving bitcoin a hard chase.

The thing I find most interesting is ETHs market cap today is higher than BTCs market cap at the peak of the 2017 bull run. That must have some implications for the floor for BTC, don't you think?

It could be, but the question is, can Ethereum sustain its run? Will smart investor not shift to bitcoin if there is a dump on Ethereum price?

[pinggoki]

I didn't see that there's a competition between bitcoin and ethereum because I am just seeing them as 2 of the best coins that we can invest about. Especially right now that the ethereum is suddenly surging up and up  and we are seeing that ethereum is $3,300 already which the ATH for the ethereum. Another thing is that ethereum is having a good market cap today and that's also indicates a good outcome for it's value. We don't need to compare this two because they are not the same aspects.

[lionheart78]

Is there really a competition between Bitcoin and Ethereum?

Yes the market dominance.  ETH with its current surge is eating the pie of Bitcoin dominance.  That is one good development of ETH despite its flaw of having too high on the transaction fees.  I am wondering, how much larger of a percentage would ETH get from BTC dominance when the ETH 2.0 is fully operational.

.... but the question is, can Ethereum sustain its run? Will smart investor not shift to bitcoin if there is a dump on Ethereum price?

Shouldn't we also ask the same question with Bitcoin?

[Theb]

There is nothing to worry about the whole situation where Bitcoin is losing market dominance it is to because it is to be expected as a crypto market exists. It is only natural to see that investors will start to look for other opportunities in the market where they have more room for growth and price appreciation. Also the decrease in market dominance doesn't mean its the end for Bitcoin's value as well as it is still the market leader and is more known that companies are even buying their own Bitcoin as well as implementing it as their investment product.

[Cengghengmania21]

If I talk about these two coins [btc and eth] they have the same value and high users. but if our look at the increasing percentage of prices that are happening, eth is indeed increasing rapidly. but if we look at the price that happened, the difference price is still very far I think.

[makishart]

Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

It looks like you are a newcomer, right? Bitcoin has ever placed at the second position a few years ago when ethereum ever surpassed bitcoin in term of marketcapitalization. This is not something new in crypto because bitcoin can try to get back its dominance again in term of coinmarketcap easily. Bitcoin already increased a lot and it takes the time until the next pump will happen.
bitcoin becomes a rare commodity from day to the another day.
The flippening can happen anytime to get the domination in crypto again. that's easy for bitcoin to do that.

[dothebeats]

I don't think this is something to be worried about. Wealth spreading into other cryptocurrencies is not something that is frowned upon since people are also seeing some value on things that they find interesting. Also, the recent developments on ETH may have permitted this newfound market activity. There had been a lot of positive events on ETH lately that I am not surprised that it will push for beyond ATH at this point. The volume on exchanges seems pretty good, too.

[Silberman]

       Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
         Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

I will suggest that you become more careful when you invest in ethereum, it is undeniable that at the time ethereum is growing faster than bitcoin however we must remember that most institutional investors do not really care about it because ethereum is never going to be a store of value, which means that most people are just speculating with the coin and when the price is based on nothing but speculation then when the price finally begins to go down it is going to do it at an impressive speed.

[Mahdirakib]

Everything is relative in the crypto market. Just because something is like that today it doesn't mean it will be forever. BTC is the first coin and everything else is just a copycat based on its technology. Choose wisely.

Well said, bitcoin is the first and top crypto since beginning. No other coin was able to replace bitcoin and take the position of it. BTC will remain in the top always. I think we shouldn't worry much as bitcoin dominance decreasing now. Bitcoin marketcap dominance had also decreased significantly before the bull run of btc in 2017. In June 2017, BTC dominance reached below 40% while ETH dominance reached above 30%. And we all know what happened later, bitcoin went high again.

[go4crypto]

Crypto market has these cycles all the time where sometimes bitcoin is performing better while other times Ethereum and altcoins are outperforming it. Bitcoin dominance going down is the best phase of crypto bull market.

[Gozie51]

Ethereum isn't a coin to look down on. Since this year it has performed very well closing in second position undeniably. The fees that is high that investors speculated to pull the importance and relevance down has not worked that way but it has reached a new ATH by climbing to $3,300 and above. We may have entered the altcoins season with the Ethereum continuous run.

[johnwest]

Ethereum isn't a coin to look down on. Since this year it has performed very well closing in second position undeniably. The fees that is high that investors speculated to pull the importance and relevance down has not worked that way but it has reached a new ATH by climbing to $3,300 and above. We may have entered the altcoins season with the Ethereum continuous run.

+1

Also, check out the fees of an ETH transaction now, it is less than 5$, People might say it's still costly but it used to be 40-50$. This shows that it is adjustable and works according to the situation. The price of ETH is rising and will be on the run till the EIP-1559 update in July. I would say that will be the peak point for Ethereum. Right now it is the time to buy and hold.

[Desscount]

Ethereum isn't a coin to look down on. Since this year it has performed very well closing in second position undeniably. The fees that is high that investors speculated to pull the importance and relevance down has not worked that way but it has reached a new ATH by climbing to $3,300 and above. We may have entered the altcoins season with the Ethereum continuous run.

+1

Also, check out the fees of an ETH transaction now, it is less than 5$, People might say it's still costly but it used to be 40-50$. This shows that it is adjustable and works according to the situation. The price of ETH is rising and will be on the run till the EIP-1559 update in July. I would say that will be the peak point for Ethereum. Right now it is the time to buy and hold.

less than $ 5? I think you saw mate wrong, try visiting https://etherscan.io/gastracker,
and you will see that now the GAS used by the Ethereum platform for transactions reaches more than $ 13, of course this makes ETH very disliked by traders,
but the price of ETH reaches new ATH this time, yeah it's a surprise and it's really amazing, even though the problem hasn't been resolved, Ethereum is still able to be in a bullish trend

[Sterbens]

LOL
so BTC depends on how ETH moves? are you not wrong in analyzing market growth. BTC cannot be isolated as an ETH holder. On the contrary, it is BTC that attracts the ETH market movements to continue to follow. BTC is the parent, and the parent ttap is in front without being integrated.