Which cryptocurrency can actually oust Bitcoin?
Nov 15, 2017 Posted / 11303 Views
This week has been mostly about Bitcoin's plunging prices, Bitcoin Cash's unexpected surging prices and also a new competitor (Dash coin) has been creating a buzz which has surged up to 60% of its price. One would have never imagined that virtual currency world would bring in so much of tittle-tattle for the real world. But this is main thing about the cryptocurrency world and for which it is famous, that is its volatility. It can either help you to spin huge amount of money or can even leave you bankrupt. But it does depend upon the cryptocurrency you choose. Every cryptocurrency has its own purpose and functionality which makes them unique and with the only common thing is that they all are virtual and on the blockchain. Until now Bitcoin was the supreme currency which was ruling the crypto world, then recently everything changed. It has not only hampered the prices but also the perception of Bitcoin and many other existing cryptocurrencies. So is there any cryptocurrency which can take place of Bitcoin?
Looking at the current market, the top competitors can be :
1. Bitcoin Cash: The forked version of Bitcoin, is doing great with its recent surge and huge demand in the crypto market, it can give a tough competition to Bitcoin.
2. Ethereum: After few movements in the Ethereum prices, it has gained the price value of around $332, which is giving a major competition to both Bitcoin and US dollar.
3. Dash: This new buzz in the cryptocurrency town has witnessed 60% surge, which has started to prove its mettle and locking horns with major digital currencies.
Well, bitcoin fundamentally does not have so much to offer in comparison with the fresh cryptocurrencies which are offering so many features. We can say that Bitcoin is just having its dominant power in the market because it's the first in a lot of cryptocurrencies, but we can also expect that a new cryptocurrency which can cover flaws of bitcoin can dethrone it. But looking at bitcoin's popularity the demand is so huge that the termination of Bitcoin reign is not happening soon. Like every asset goes through its share of struggles, Bitcoin is going through the same phase. This might also work in the favor of Bitcoin because it can aspire people to buy Bitcoins at low prices, which will increase the demand and thus its price can surge high again.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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