While we go through the cryptocurrency bear market, experts remain bullish of the future
Image source: pixabay.com
I am referring to Forbe's article: "Bitcoin, Ethereum, Ripple And Litecoin: Good Or Bad Investments?" written by Panos Mourdoukoutas. Nathan Worsley, CTO of LocalCoinSwap, give his opinion on the future of the cryptocurrencies.
Bitcoin
“Bitcoin is the most battle-hardened network in existence. Bitcoin has withstood the test of time and multiple attacks by well-resourced adversaries,” he says. “It is a cryptocurrency which can be relied upon, and with the Lightning Network in infancy stages great things are coming.” says Worsley.
I believe it is true that with the upcoming implementation of the Lightning Network, issues with Bitcoin transaction speeds could be resolved. It may pull Bitcoin out of the dip, but Bitcoin has also lost a large proportion of the market dominance in the past nine months. Ethereum is a strong competitor gaining on market capitalization fairly quickly.
Image source: flickr.com
Ethereum
“Ethereum is a general-purpose scripting Blockchain founded by one of the greatest minds of our generation. As the foundation for hundreds of other mainstream cryptocurrencies, Ethereum has the potential to one day rival Bitcoin itself.” says Worsley.
How Ethereum is able to gain influence over Bitcoin is remarkable. Ethereum has rebounded from its death-cross reversal, jumping back to US$400. Many development projects and ICOs are launching based on Ethereum, including Golem, the so-called ‘Airbnb for computers’, who raised 820,000 ETH during a token sale in November 2016 as reported by Hacked.com - Sam Bourgi. Golem is one of Ethereum's earliest ICO projects that is a making its mark today.
Ethereum staying afloat.
Image source: coinmarketcap
Bitcoin or Ethereum?
I have both pockets full of BTC and ETH, but ETH is my better bet.
Ethereum's involvement with smart contracts is giving an edge to Ethereum "dwells on building the infrastructure", as mentioned by Newtimes - Kevin Orango. In simple terms, ICO raises funds using Ethereum's smart contracts, and successful ICO investors receive tokens in exchange for the ETH raised. There is a significant amount of ease for developers to launch ICOs based on Ethereum.
Ethereum predictions also looked optimistic, with a 5-year forecast of more than 1000% increase in prices. See screenshot below:
Image source: WalletInvestor - ETH Predictions
Keep your cryptocurrency portfolio diversified is the key.