Bitcoin holds the franchise tag in the crypto currency space, meaning Bitcoin and Crypto Currency have become almost synonymous with newcomers and those who just don't know any better. Because of the word relationship when most people accept advice from someone who isn't entirely correct, or got misinformed somewhere along the way, they tend to enter the market purchasing bitcoin. This pushes the demand for bitcoin higher even if they wanted to purchase an altcoin of some type they still buy bitcoin first. This is likely what started the major run for bitcoin in the first place followed by a mad rush and major FOMO disease.
My point is maybe the market figured that out. Ethereum is basically the same and just as popular. But most people don't think Ethereum when they hear Crypto Currency. They automatically assume Bitcoin. Since before the New Year Ethereum has been on a nice steady run testing 0.10 twice in recent days. At 1/10 the price and on an upswing while Bitcoin remains stagnant it seems like the time may have come for Eth to catch up some ground and move closer to BTC overall Market Cap.
What are your opinions on Price relation between the 2?
My Favorite New Trading Platform/Exchange: KuCoin.com
If you enjoyed this reading material and or found it useful then
Follow me for market alerts. @jdean - AKA - BigPac
I think Ethereum has the potential to surpass Bitcoin. In alot of ways it already has. The market cap comparison is misleading because really a good majority of the coins on the market right now are running on the Ethereum blockchain. If you combine the marketcap of all ERC20 tokens and Ethereum it helps you see the bigger picture of it's utility.
Interesting viewpoint. Here's a question I don't fully understand. If ETH or BTC were to literally crash and become non functional for whatever reason, would all the Altcoins such as ERC20 Tokens be non useable?
Meaning they depend on Ethereum Chain to function or are they somewhat independant. My understanding is a ERC20 has to have Ethereum running to be functional.
Well from my understanding bitcoin forks are on their own network so they could continue to function. I think it's just the name brand "Bitcoin" is so powerful at this point that if the original bitcoin died alot of people would just give up on alot of altcoins.
Ethereum dying would literally kill alot of these other altcoins because they actually use ethereums infrastructure to process transactions. Even some of the coins that are "Ethereum Killers" or competitors are actually erc20 tokens currently. At some point they hope to have their own networks but who knows if or when that will happen for most of them,
Gotcha. Thanks. Kinda what I was thinking. Definately the Name Bitcoin drives it's price. Majority of people just learning or entering the market think Bitcoin is Crypto Currency in general and buy BTC cause it's all they know. I think it will remain a market setter for a long time. Meaning it's price will dictate the other coins prices. Like the USD is for Stocks. BTC will be for Crypto.
Etherum catching up...I doubt it
Not equal but at least 50% of total market cap. It's at 9.8% now. 10% seems way undervalued to me.
nice post jdean !!
This post has received a 3.51% upvote from @msp-bidbot thanks to: @jdean. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
This post has received a 6.56 % upvote from @kittybot thanks to: @jdean.
This post has received a 11.11 % upvote from @sleeplesswhale thanks to: @jdean.
This post has received a 2.32 % upvote from
thanks to: @jdean.
For more information, click here!!!!
Send minimum 0.100 SBD to bid for votes.
Before sending a transfer to @minnowhelper, verify that your publication meets these conditions (http://www.minnowhelper.com/conditions.php). After the transfer is made, no claims will be received.
The Minnowhelper team is still looking for investors (Minimum 10 SP), if you are interested in this, read the conditions of how to invest click here!!!
ROI Calculator for Investors click here!!!
Resteemed to over 8400 followers and 100% upvoted. Thank you for using my service!
Send 0.100 Steem or 0.100 Steem Dollar and the URL in the memo to use the bot.
Read here how the bot from Berlin works. News you will find under the hashtag #resteembotnews.
Please help us grow and use our link to trade #IOTA #BTC #ETH and a lot of more at one of the biggest exchanges. https://www.binance.com/?ref=10230705
@resteem.bot