In recent months, Bitcoin has lost value consistently. However, it has increased more than 1000% in the last 12 or 16 months. On the other hand, when you're looking at Ethereum, it's only about 20% from its peak. It has also increased by over 1000% in the last 14-16 months. This is one of the reasons why investors are actually trying to invest in Ethereum. Many investors are trying to find out if Ethereum can actually surpass Bitcoin.
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The Davos conference was one of the main venues where the cryptocurrency discussion took place. Most of the leaders of larger companies are intrigued by the sudden increase in cryptocurrencies. This is one of the main reasons why it was the topic of discussion there.
JPMorgan Executive summary of the cryptocurrency:
1. Cryptocurrencies are unlikely to disappear, here to stay.
2. The cryptocurrencies are the face of the blockchain (which echoes similar sentiments as president of the CFTC: it can not separate the blockchain from cryptocurrency.https: //t.co/2RI3Sv1x0L
– Joseph Young (@iamjosephyoung) 10 February 2018
Many opposing voices:
It is not that people are already considering Ethereum as a worthy successor to Bitcoin. There are also many opposing voices. The problem is that Bitcoin is the pioneer in the cryptocurrency market. On the other hand, when comparing cryptocurrencies based on application, we realize that Ethereum has a much more powerful application. This is one of the main reasons why investors are thinking that Ethereum would be able to increase its value.
The truth is that Ethereum provides a decentralized computing platform. This ensures that more and more people can earn Ethereum simply by lending the processing power. Furthermore, the extraction of Ethereum is currently profitable. This is actually increasing the focus on Ethereum.
Even in recent months, Ethereum has received a lot of media advertising. This has brought the attention of traditional investors to Ethereum. This is one of the main reasons why he lost little compared to some of the other cryptocurrencies like Bitcoin, which lost about 40% from its peak.
The truth about the relationship between Ethereum and Bitcoin is nothing short of complicated. The reason for this is that Ethereum is often considered a 2ND cryptocurrency. In fact, if the adoption of Bitcoin does not increase in the offline world, there is certainly an opportunity for Ethereum to become the most appreciated cryptocurrency. For now, however, the trend in the cryptocurrency market is not so strong and that is why most cryptocurrencies are actually falling more than 20% from their peak. In the future, Ethereum has a lot of potential.
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