[ad_1]
Many experts think that Bitcoin it is overvalued and its real value is lower than that of the market. Well, in this article we talk about the main cryptocurrency, we discuss its disadvantages, the current situation and the forecasts for the future. So, first.
BTC's place in rating now (rate, capitalization, market share)
Today, the cryptocurrency industry is not enjoying its best time today. In the last week, market capitalization declined by $ 70 billion and today this brand is $ 123 billion. Despite the collapse of total prices, Bitcoin maintains its leading position – 54.4% market share. Now also the market volatile, so the numbers that will be given in this material may differ from the real ones. For the time being to write this article 1 BTC costs $ 3,880 and the capitalization of the currency is about $ 67 billion. It is possible that when you read this article the above values are different.
Why BTC is considered overrated?
At the end of 2017, the BTC rate briefly exceeded $ 20,000. At that time, this resource was extremely overbought and overvalued. Euphoria reigned in the market, a growing number of investors wanted to enter the market. But such growth could not last forever, so a rapid withdrawal followed.
Bitcoin has nothing to do with the physical world and in itself can not have real value, in the usual sense. What is BTC? This is just a set of data that is stored on the blockchain. Its value is determined by investor confidence, as well as by the user base. The problem is that the Bitcoin network in its current form is not able to quickly process a large number of transactions. This is one of the limiting factors on the path of money to achieve universal acceptance.
Who can push Bitcoin from the first place?
Currently, over 2000 different cryptocurrency projects are published. Is it really possible to find at least one coin from all this long list, which can take first place in the global ranking of cryptocurrencies? This is a rather complicated question, there is no definitive answer. But speaking of the near future, most of the answer will be "no". The fact is that now (at the end of 2018) BTC holds a 54.4% stake in the total cryptocurrency market. This means that the remaining coins over 2000 exceed only 45.6%.
But in the long run, there is a possibility that some kind of token or coin will still be able to take first place. What cryptocurrency projects are able to do this?
1.Ripple
Lately, it takes the honorable second place in the global CoinMarketCap ranking.
- Price: 35 cents;
- Market capitalization: $ 14 billion;
- Number: 100 billion tokens.
In short, the Ripple technology allows a large number of users to share resources at the same time. The project has its feet on the ground, and what is most important is used in real life. This technology is used by large banks to reduce transaction costs (Earthport, Bank of America, HSBC, etc.). Ripple is able to process more than 1,500 transactions per second, with minimum fees (0,00001 XRP). Given the potential value of this project and the huge number of tokens, it can be assumed that Ripple has every chance to win first place in the global cryptocurrency rating.
2. Ethereum
- Price: $ 109;
- Market capitalization: 11 billion dollars;
- Problem: unlimited (currently more than 103 million coins have been extracted).
Ethereum has held firmly the second place for a long time, but The last wave of correction has moved on the third row in this list. We want to remind you that, literally at the beginning of November 2018, Vitalik Buterin (creator of Ethereum) stated that the project is awaiting a major update in the near future. If developers can do all this, Buterin said, this will have a good effect on the future rate of money.
All other currencies are too far from the first three in terms of capitalization and popularity among the masses. Potentially, almost all the coins of the TOP-100 can go on in the future, but its probability is extremely reduced.
Conclusion
For over ten years Bitcoin is the main cryptocurrency in the industry. The vast majority of people when they hear the word "cryptocurrency" implicitly unconsciously Bitcoin. Of course, BTC has its drawbacks, but the development team is working hard to eliminate them. This is a very complex process, the implementation of which takes a long time.
So, if we analyze this problem, we can safely say that it is unlikely that any other currency will be able to take the place of Bitcoin in the near future.
Subscribe to The Coin Shark Facebook news: https://www.facebook.com/coinshark/
[ad_2]Source link
