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Bitcoin is the king of the crypto world, but if he keeps his position it is another story. The world's first cryptocurrency still holds the largest share of the market, but Challenger like Bitcoin Cash and Ripple could take its position. Reverse predicts that while the future price of the currency seems uncertain, it will retain the largest market capitalization of all cryptocurrencies.
It was not a good year for bitcoins. After moving from a price of $ 2,000 in May 2017 to around $ 20,000 by December 2017, bitcoins have gradually returned to $ 3,400. Its market capitalization fell from $ 336 billion on December 17, 2017 to $ 60 billion at the time of writing. However, its market share remained strong at 55 percent, recovering from the decline to 33 percent of January 8 with "altcoin" as Ethereum which gained traction, as the collapse of the cryptocurrency coincided with a sharper decline of the market.
"Once the market starts to recover, will Bitcoin maintain its position? Yes," says Paul McNeal, co-founder of CryptoMarket360 Reverse. "Why? Because once the big money starts flowing in this market, it will do it in the most reliable resources, and Bitcoin is the all-time asset on the market."
Big Bitcoin Bonanza
McNeal notes a number of factors that suggest that the bitcoin will retain the domain. The second largest cryptocurrency, XRP, is well behind with a market capitalization of only $ 12.5 billion – and some proponents claim that its centralized nature means it should not be considered a cryptocurrency anyway. McNeal states that the only possibility that XRP has to conquer the first place would be "a monumental news that is an important financial institution start to adopt xRapid that was buying XRP from boat loads or that it is A bug was found in the Bitcoin software that made it almost useless. "
The third largest currency, Ethereum, has a market capitalization of $ 9.4 billion, and while it seemed it could question bitcoins for first place in June 2017, it slowly lost this momentum in a diversified market:
Bitcoin also maintains much more familiarity with the general public, based on a comparison between Google Trends between Ethereum, Ripple and the similar Bitcoin Cash:
Bitcoin could even increase its advantage. Management consulting company A.T. Kearney said in a report this month that bitcoin will claim 66% of the market in 2019.
"As someone who is constantly watching the news cycle, deeply involved in the Crypto community, actively participating in all social and offline channels, I can say with certainty that Bitcoin will continue to be the king of Crypto's jungle," says McNeal. "It's a beast!"
Betting against the big boy
Not everyone is convinced. Supporters of XRP on social media have talked about the possibility that the token could increase significantly over the next year. An unscientific poll conducted by Ran Neu-Ner, conductor of CNBC Africa, asked the disciples what they would do if given $ 10,000. While 39 percent say they want to buy bitcoins, 52 percent of the 15,116 respondents chose XRP.
Proponents of this prediction also note that as Bitcoin and Ethereum entered November of the 14th and 16th percent, XRP gained 10 percent.
2019 Technical Predictions: what you think is reverse
While XRP shows the promise, Reverse it is unlikely that XRP will exceed bitcoin next year. Bitcoin has remained the largest cryptocurrency for its entire existence, requiring a seismic event to allow such a dramatic shift. This seems to be more unlikely than probable, so we believe that bitcoin remains the largest cryptocurrency by market capitalization for at least another 12 months.
The author of this story has an interest in bitcoin and Ethereum.
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