While we go through the cryptocurrency bear market, experts remain bullish of the future
Image source: pixabay.com
I am referring to Forbe's article: "Bitcoin, Ethereum, Ripple And Litecoin: Good Or Bad Investments?" written by Panos Mourdoukoutas. Nathan Worsley, CTO of LocalCoinSwap, give his opinion on the future of the cryptocurrencies.
Bitcoin
“Bitcoin is the most battle-hardened network in existence. Bitcoin has withstood the test of time and multiple attacks by well-resourced adversaries,” he says. “It is a cryptocurrency which can be relied upon, and with the Lightning Network in infancy stages great things are coming.” says Worsley.
I believe it is true that with the upcoming implementation of the Lightning Network, issues with Bitcoin transaction speeds could be resolved. It may pull Bitcoin out of the dip, but Bitcoin has also lost a large proportion of the market dominance in the past nine months. Ethereum is a strong competitor gaining on market capitalization fairly quickly.
Image source: flickr.com
Ethereum
“Ethereum is a general-purpose scripting Blockchain founded by one of the greatest minds of our generation. As the foundation for hundreds of other mainstream cryptocurrencies, Ethereum has the potential to one day rival Bitcoin itself.” says Worsley.
How Ethereum is able to gain influence over Bitcoin is remarkable. Ethereum has rebounded from its death-cross reversal, jumping back to US$400. Many development projects and ICOs are launching based on Ethereum, including Golem, the so-called ‘Airbnb for computers’, who raised 820,000 ETH during a token sale in November 2016 as reported by Hacked.com - Sam Bourgi. Golem is one of Ethereum's earliest ICO projects that is a making its mark today.
Ethereum staying afloat.
Image source: coinmarketcap
Bitcoin or Ethereum?
I have both pockets full of BTC and ETH, but ETH is my better bet.
Ethereum's involvement with smart contracts is giving an edge to Ethereum "dwells on building the infrastructure", as mentioned by Newtimes - Kevin Orango. In simple terms, ICO raises funds using Ethereum's smart contracts, and successful ICO investors receive tokens in exchange for the ETH raised. There is a significant amount of ease for developers to launch ICOs based on Ethereum.
Ethereum predictions also looked optimistic, with a 5-year forecast of more than 1000% increase in prices. See screenshot below:
Image source: WalletInvestor - ETH Predictions
Keep your cryptocurrency portfolio diversified is the key.
Personally I'm not a fan of BTC or ETH for quite a few reasons, mainly lightening network. I think it;s a horrible scaling solution if you actually look into it. However, I do hold some BTC because I don't see it as being a bad long term investment. It's the name in crypto everyone knows.
It's only a matter of time before we get another nice bull run. I can't wait. Right now I'm stocking up on BTC, ZEN, EOS, ZEC, BTS, and now Steem.
yes diversify is the key. :)
I believe Clif High has made some startling yet accurate predictions.
https://steemit.com/blockchain/@splatterhaus/clif-high-whiz-bang-bang-report-early-2018
Very different projects indeed. I believe bitcoin will gain market share and develop as a reserve cryptocurrency. Institutional money will first some to a more established, time tested crypto, namely bitcoin. This will lead to gain in market dominance for bitcoin.
Once regulations on ICOs are clear and in case a better ethereum alternative is not found/ethereum developers find a way to make ether scalable, then we will see more money going into ethereum. I am more bullish on btc than eth for 2018.
I think both BTC and ETH are in good positions right now. Right now, I am keeping balance for both, and diversify if needed.
Coins mentioned in post:
What do you think about electroneum?
I have read a few articles about electroneum, mostly pessimistic. It has gone below death-cross and did not rebound. I'm sorry to say the coin might be dead or it could be under "long-term maintenance" :(
nice post....!!
In cryptocurrency, you dont loss.. Its just a matter of time
I suppose everyone is bullish on the crypto. Everyone I've talked with who was in crypto before January are optimistic and wait for a good chance to profit again. But for now there is a large group of people with money who shake the market and makes profit from it. So it will be hard to change the trend, but once the up trend will be settled it will gain power easily and we will return to December values in just weeks.
yes, much easier to find someone to come into the market than to exit the market. bullish outlook expected
Interesting that ETH/EOS etc starting to move upwards while BTC lingers.
yes. Seeing BTC losing its top market dominance is really a shocker. Now who is going to be No. 1?
interesting times ahead but I still love crypto
Not all coins will survive, but the big players will increase the MC x1000% over in the future when mass adoption kicks in
yes, I hope so too. In a world of natural selection, selection pressures will enable the survival of the fittest.
This is an interesting post. Irrespective of Bitcoin or Ethereum, experts and the market in general are very bullish on cryptocurrency. Let us not forget that cryptocurrency and the concept of digital currency is still in its infancy. At Blockbasis we strongly believe that it is only a matter of time to find out who among all cryptocurrencies, especially, Bitcoin and Ethereum, is a better bet. Until then we all must keep ourselves well informed and continue to invest as much as we are prepared to lose.