Will ETHEREUM replace the BITCOIN? ANSWER IS SHOCKING !
Hi all STEEMIANS,
As you all know BTC recently created an all-time high this week at 3000$+, but suddenly it has fallen now and currently stands at 2250$, Now there is a talk in the market and in the wall street that will the ETH replace the BTC? The answer to this question is "YES" and infact it has started to do so.
Ethereum market capitalization is nearing to that of the BTC, means ETH is eating up the lunch of BTC. As seen in the graph above the the combined market capitalization of BTC [in orange] got down from 87% in FEB to 39% today. This in fact due to the reason that the ETH market capitalization [in violet] climbed from 5% four months ago to 31% as of today. If the ETH market capital crosses that of BTC a "Flippening" will happen and the ETH will definitely replace BTC.
Also the nodes of the ETH is five times more than BTC and the market capital as of Wednesday of BTC is $45 Billion and that of ETH is $36 Billion.
So a tip to all my fellow STEEMIANS, add ETH to your watchlist for sure.
Note: Data and Graph from marketwatch.com
Dear sighanchi
...keep in mind that more than 90% of ETH is/was bought in the last weeks, was bought by other cryptocurrencies that create their coins on the Ethereum platform - not by people that invest/speculate.
I don't know if Ethereum wanted or aimed to become a platform to built on top of it's technology all those other Alt-coins but it has hgappened.
look, for example today, what is happening to all the coins including ETH when the Bitcoin crashes 15% - all the market is crashing with it - ETH does not have the same effect on the market.
also if you go to the internet and check what can you buy with ETH (without transforming it to Fiat currency or bitcoins) ...very little.
We would need years to see if ETH will become more dominant then BTC ...few weeks of up trend does not mean nothing
So u mean to say that all other cryptocurrencies are dependent on BTC.
exactly ...today it is more evident than ever
Bitcoin is the gateway of all the other alt coins to the real world
BTW Altcoins are alternative coins
alternative to what? -- to bitcoin
Thats right all other crypto depends on the BTC and it can be clearly seen today, cause as BTC falls down so is the other crypto.
I have instinctively felt an ethereum shift coming. Especially now that Russia (and putin) are considering having Ethereum as a nationally accepted digital Currency. Good posts bro. Keep up the good work.
Cheers!
Nice review. I just start invest in BTC. When we use ETH, which wallet is better ?
I was reading this source https://www.weusecoins.com/ethereum-wallets/, but i can not decide which one is better for me.
I don't have any individual wallet, instead I use poloniex.com as a single wallet, and whenever I want cash I exchange BTC to INR my country currency.