In the last few weeks, Bitcoin has been trying to find itself. After a huge run up, we saw prices drop and rise back and forth. It appears BTC price has finally settled down around $15,000 possibly suggesting that its steady uptrend will continue once again.
But its not BTC that has most people talking. It’s not even Ethereum. It is the alt coins which are having a field day in the midst of BTC’s indecisiveness, specifically Ripple (XRP). BTC’s dominance in the crypto market has dwindled down to around 35%. Now sure, you can point to the fact that more coins are entering the game, but you cant deny Ripple’s recent run to #1.
Ripple has increased from about $.25 two weeks ago, to about $3.05 today. At peak performance, Ripple’s market cap was half of Bitcoin’s.
This points to a revolutionary trend within crypto: BTC will be replaced. Crypto investors have identified the issues of BTC which include slow transaction speed, high fees etc. BTC also has one major issue: IT BRINGS NOTHING NEW TO THE TABLE!
Bitcoin did one thing, and that was to introduce blockchain technology. This WAS revolutionary, but other coins are building on that concept and bringing new things like smart-contracts, increased privacy, platforms like Steemit, etc etc. New coins are creating innovative functions that has BTC looking boring.
I believe many coins are more exciting than BTC and i think this is refelcted in other coins rising. Let me know what you guys think about BTC’s decreasing dominance and the rise in ALT coins. Which coin do you see replacing BTC this year?