Altcoins Have More Prospects Than Bitcoin, Experts Say

The recent rally of the Bitcoin price to $3,000 paused with inevitable corrections that led cryptocurrency experts to again speak about the possibility that other cryptocurrencies, or altcoins, will soon take the lead on the digital currency markets.

Most top altcoins were following their ‘big brother’ and rose in price in May and June 2017. Moreover, in May, almost all the most popular cryptocurrencies have shown unbelievable market capitalization growth.

Coinidol.com contacted Blockchain and cryptocurrency market experts for their opinions on the possible future of the industry. Some of them noted that, although Bitcoin holds the major part of the whole cryptocurrency market cap, other coins seems to have very good prospects. Some of them may even overreach the results of their ‘big brother’ and take first place as the most popular, secure and fast growing coin.
Ethereum breathes at Bitcoin’s back

Right now, the main competitor to the world’s largest cryptocurrency Bitcoin is Ethereum (ETH). When Bitcoin goes down, Ethereum holds on or even rises in price.

While on June 11 Bitcoin’s price fell down and took the other altcoins into the stage of price corrections, Ethereum managed to hold on and continued growing.

Some cryptocurrency experts are placing bets on Ethereum taking the lead soon.

Sam Cole, Blockchain consultant at Seao company in Sweden, and former Co-Founder and CEO of KnC Group, a builder of the blockchain KnCminer, commented to Coinidol.com:

“Bitcoin is being outpaced by others such as ETH which still have space for growth. So while BTC is in first position if nothing changes I predict it will go the way of MySpace and be outpaced by other newer coins which are still in a place to onboard new users”

Frank Espinoza, Director at Coin Capital Group, an Australia-based Capital Management company in charge of managing portfolios of cryptocurrencies using advanced statistical analysis, believes that one of the reasons for bitcoin going up in value so much is the mass adoption worldwide of blockchain technologies. However, in his opinion, altcoins will soon take the lead and Ethereum will be a key player among them. He stated to Coinidol.com:

“The bitcoin price will drop quite a lot and maintain at that level between 2018 and 2019, because I think soon people will realise that there are better altcoins out there that are much more reliable, secure and efficient than the current technology of the bitcoin. So people will move out of the gold standard of the bitcoin, selling it, and buying and pumping the price of the other altcoins.”

Frank Espinoza noted that one of the key players in the altcoin scene in at least the following 3 years could be Ethereum. He continued:

“Currently it provides a technology that no coin can easily offer at that level, which is the blockchain base for the issue of new coins.“

Carlos Mosquera Benatuil, General Partner at Solidus Capital, a Hedge Fund specializing in Cryptocurrency Investments focused in Latam, noted that the possibility of a Bitcoin hard fork may lead to an alternative scenario for the cryptocurrency market’s future. He said:

“However even when most incoming new money is ignorant about fundamentals of Ƀ and Alts, the BTC HF threat is real and rumors seem to start being verified, so some are preparing themselves for a possible split. If it happens, possibly both new Ƀ coins would thrive since there's just too much money behind each of them and newbies just will buy whatever they see available. We also think that even though a temporary bubble is present at this point, these ecosystem prices are still marginal in proportion to what X multiples we expect to see in the next 3-5 years. This is just the beginning of the early days. That's why we help High Net Worth Individuals, Family Offices and Institutions invest and manage crypto portfolios in a smart and secure way. We predict at least 5-10X multiple of all the ecosystem cap value in the forthcoming 3-5 years. As well, we think Ξ will gain leadership in market cap in the short term. And probably ETC will gain a very solid leadership position as well.”

He continued that this is the moment to invest as it seems to be a once-in-a-lifetime opportunity for getting into one of the eras of most massive value and wealth creation in history.