As other cryptocurrencies are becoming more accepted, and the actual value of the cryptocurrency market increases as more people become involved. This, though is nothing to fear, but to celebrate, it means that we are entering a period of a level playing field where in a few years I can see things like Etherium and Ripple at their current rate become more equal to Bitcoin in market share, especially with Etherium’s capability to store contracts in its blockchain, this makes it a very exciting platform for both investor and business alike.
As Bitcoin loses dominance to other cryptocurrencies this is only good news. It means that there are other options coming into play – This chart shows the comparison of Bitcoins dominance in the market compared to other currencies – so although Bitcoin is going up in value, so is everything else.
Ripple has been a surprise for me, growing very quickly and getting much more acceptance.
Look at how Etherium and Ripple fight for second place, with Bitcoin Cash showing a lot of promise. I wonder if Bitcoin Cash could be a really good investment for the next year?
Of course, both of them will need to do a lot of work to gain the position of Bitcoin but time will tell how the market develops. Certainly, it’s healthy to have multiple cryptocurrencies as it creates a whole new arena for trading and spread betting, one that is not controlled by governments or banks.
This post was sponsored by Revian – Reviews in the Block Chain