Etheruem price broke through $400 USD and bitcoin dip about 12% to 2.6K USD. Bitcoin dominance drop to 40.6% and I believe there could be a possibility that Etheruem will take over bitcoin in market shares by the end of this year.
A few reason which i believe causes the surge in Etheruem prices.
1) Bangcor ICO
Another massive ICO which causes Etheruem network to be in such heavy load. At this moment of writing, about 50 million worth of Eth transferred during this ICO.
2) Upcoming Status ICO which happens on 17th July 2017
I believe this ICO is going to be as big as Bangcor one.
3) Bitcoin fork
BIP 148 that is going to happen in August will cause alot of concerns to bitcoin holders and there are a few options to safeguard their value. One way is to exchange to fiat currency or USDT and wait for the situation to pan out or buy the next most valuable crypto using Bitcoin which Etheruem is the pretty obvious choice.
3) The Global Blockchain Conference 2017 in China Chengdu.
China is going to hold a global blockchian conference 2017 on the 14th and 15th of June in Chengdu co-orginze by EEA China. With several major bitcoin exchanges including OKCoin have announced the integration of support for Ethereum or Ether trading and this conference exposure, value of Etheruem will rise.
http://news.btc123.com/news/detail?id=5893
What do you think? Do you think Etheruem will take over bitcoin in market shares?
Ethereum overtaking Bitcoin in marketcap is only a matter of time. This could happen possibly in the next week if there is a psychological rally to $500. Today it hit $420 already so I do not think it is a far fetched idea for it to rally to $500 in the next 7-14 days. At that point all of the MSM will have to start talking about Ethereum.
With all of the upcoming news you list we could see $500 by the end of the Chinese conference.
Agreed. But i am not so sure if it can overtake next week though. If it did, it will be history in the making. :D
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