Are you watching the bitcoin and ether rollercoaster ride? Is this the buying opportunity of a lifetime? This is going to be a wild ride!
Bitcoin and Ether Rollercoaster!
It's Thursday morning June 15, 2017. Bitcoin and Ether have just plummeted from their most recent all time highs of nearly $3000 per bitcoin and about $400 per ether. At 12:24pm ether is now 312$ and Bitcoin is $2278. The battle is raging! !
The race for market cap dominance is heating up! Which coin is the best?
Here is the total crypto coin market cap dominance percentage showing the battle for coin market cap dominance between bitcoin and ether:
With this chart from coinmarketcap.com , the battle for coin market cap dominance between bitcoin and ether is very clear! Ether is clearly gaining momentum over bitcoin. Will ether continue this pace? Will ether actually reach the price of bitcoin at nearly 3000$? I think it is clearly very possible.
Not only do most people want to see ether pass bitcoin on the market cap. But the developers at ether are completely and passionately obsessed with beating bitcoin. Not only by market cap. But also by price.
Ether has been on a tear of creating new coins that support the ether chain. Some of these coins include augur, golem, gnosis, and most recently bancor. Bancor is a new project that will be a decentralized coin market exchange. This exchange will support all of the coins created by the ether development team.
On the other hand, there is bitcoin. Most people holding bitcoin are only concerned with holding bitcoin and price appreciation because of the fact of the smaller supply of bitcoins. Even though the speed and fees for transactions are becoming absurd.
The ether development team is more concerned about usefulness and creating new projects that will be built on top of the ethereum platform.
Bitcoin and Ether Market Cap Dominance
The race between bitcoin and ether are very clear. It is also very clear that ether is actually trying to create new and useful applications on top of the ether platform. Bitcoin clearly has not.
If you still have bitcoin, I would be rethinking your strategy. Maybe I am wrong. But try not to be like this kid.
If you do own a bunch of bitcoins, I would be focused on the best projects that support the bitcoin platform. One such project is the steemit blogging platform. The symbol for steemit dollars is SBD. These coins can be used on the steemit blog to promote articles and advertisements on the steemit blog. The only way to buy SBD on the poloniex exchange is to own bitcoins and make trades for SBD.
When studying these markets for bitcoin and ether, I like to keep in mind how easy it is to buy coins supported by each platform. Look at the overall usefulness and acceptance of each coin. Keep these in mind when you are trading crypto currencies and you should be fine.
Also keep in mind that more and more Billions of dollars are being put into the crypto currency markets day by day. This chart pretty much says it all:
*As a disclaimer, I own a considerable amount of bitcoin and ether and SBD steem dollars :)
**These opinions are not suggestions to make any trades on any crypto market coins