Its not surprising to find the other 1573 cryptocurrencies competing with market cap, volume, technology, and fees against
the king bitcoin! Matter of fact at the time of writing this blog bitcoin stands at a price of $8,228.49 and a market dominance of 39.4%! Does this mean bitcoin will lose its lead in this huge volatile market? The answer is No! a long term and a short term no! If you think about it might seem a vague idea to say that bitcoin will stay forever because many projects are competing hard with different aspects as we mentioned above but why? reasons as follows:
Alot of exchanges: Bitcoin will not lose due to the fact it has alot of exchanges supporting it! According to coinmarketcap
68 exchanges have BTC listed but other smaller exchanges around the world who are not listed on coinmarketcap are 100% in support of bitcoin to fiat trading.
100% Decentralization: Bitcoin is fully decentralized, no one controls it not a financial institution or a private company its created by an anonymous group or person who seem not to change bitcoin or affect it as much.
Has potential to get added to e-commerce giants: Rumors has it that Amazon the biggest e-commerce website in the US has a potential to add bitcoin as a payment option! (security risk)
Bitcoin is traded for all coins: Bitcoin is traded for any coin in market making it as an example of the ruling currency in the cryptocurrency market!