All of the sudden everybody have started criticizing Bitcoin. I thought I might get my share of it. Start of the year 2018 wasn't really profitable for Bitcoin investors and speculators , bitcoin gave up most of its gain from previous rallies.That has raised a huge concern.

Why Bitcoin is loosing its popularity?

  After the rise of Ripple and becoming the center of attention almost every investors wanted to go all in on that one. The word of Bitcoin lost its steam and the enthusiast are no longer interested in so called Bitcoin hype. I've taken some notes from my previous post "Bitcoin" A fools Virtual Gold in that I explained that how bitcoin droped through all time high $20,000 and losing almost 80% of its gains(from 10k to 20k) at 12,000 within a few hours.

  No doubt Bitcoin has seen continues growth over the in 2017. Now it seemed to surrender in front of Altcoins which damaged its integrity and goodwill pretty bad. Bitcoin is no longer dominant currency in the market. Bitcoin's total market capitalization is around 240 billion dollars whlith the comparison of the cryptocurrency world's ecosystem it just far behind. Whole crypto Market capitalization is around 640 billion dollars according to coinmarketcap. Bitcoin is only 40% off its share in capital .

  Ripple followed up a massive rally in December, which helped almost reaching 100 billion dollars capital in coin market. Ripple crossed ethereum in market cap and became second largest currency by capital (Check this). According to Quartz,a digitally native news outlet, as of Jan. 1, 2018, the biggest crypto winners in 2017 as measured by data provider CoinMarketcap was Ripple, which is touted as a new kind of payment system for banks.

  Altcoins are weighing on bitcoin, since the start of 2018. I believe they will continue to do so. Bitcoin started decline for the frist time since 2015 , Keeping in mind those realities we have arrived at the conclusion that bitcoin's successful boom is in a dismay, other cryptocurrencies are riding the bandwagon and we are discovering new hypes every day.

Hedge FUnds and investment banks are bearish on bitcoin futures.

  Although bitcoin rose almost 2000% from 1200$ in June 2017 to 20,000$ in December 2017. CNBC’s “Futures Now,” The Gartman Letter editor and publisher Dennis Gartman reiterated his skepticism on Bitcoin’s meteoric rise, a view he has held for the past few months.
Gartman told CNBC that bitcoin will not only burn all those involved with it, but once it does there will be a rush into gold.
“When bitcoin falls, and it shall, it’ll trade under $5,000,” he said. “Whether it does it next week, next year, six months from now, it’ll happen. And then I think we’ll find at the margin money that had moved into bitcoin and away from gold will move away from bitcoin and into gold.”

Bitcoin is Loosing its Charm

  Bitcoin is loosing its mojo because most of its fans , people who started using bitcoin as a medium of exchange in early stages "Most of them criminals" now lost their interest in this particular currency because autonomy it promised no longer exist anymore. The original attraction of criminals toward Bitcoin was how anonymity it possessed, and it was impossible to track the transaction. But reality has changed , nowadays it became very difficult to keep bitcoin transaction a secret in blockchain. Promising anonymity another cryptocurrency is turning heads of crmiminals and underground mafia called Monero.

  Another form of privacy coins which is designed to avoid tracking is called Monero. It got attention from people all around the world, and has a significant boast in recent months. Because the law enforcement Agencies has developed softwares and different set of tools to detection of people who use Bitcoin a medium of exchange in criminal activities. Therefore other cryptocurrencies such as etherium, Manohar, Dash and Litecoin ganging significant attraction in the underground world. Menorah quadrupled in price end of year 2017.