In May 2017, investors and spectators alike saw Bitcoin price pass the value of $2,300. This figure marks the highest peak of Bitcoin’s value in its entire lifetime. Due to the success of Bitcoin over the years, many investors have been attracted to it and other cryptocurrencies as well.
However, Bitcoin is not the only cryptocurrency that has risen in value. Another leading cryptocurrency known as Ethereum has also ascended in value since January 2017. From its value of about $8 at the year’s start, it has gone on to attain a figure of more than $350, and despite the recent correction haggles around this level.
Investors worried
It has been within the last few years that cryptocurrencies have gained much favor among investors who are looking for alternative means of investing other than the traditional investment mediums. While most investors still have their money invested in traditional financial markets, such as the stock market and the forex market, a lot of these investors have become worried about the economic climate of the world economy.
With the creation and popularization of cryptocurrency, as well as its sharp rise in value, many investors, especially those from Asia, have joined in on the Bitcoin and cryptocurrency
Good!
It would be helpful to also characterize Ethereum as not having been designed at the technical level to compete directly with Bitcoin.
While one can use ETH as currency, , and many do, the true value of the ETH blockchain lies in the inclusion of a "Turing complete" programming language which allows for the creation of "smart contracts" (coded conditions, instructions, triggers etc.) which are most useful in a business context.
Understanding that the scope of your article is not to provide a "look under the Ethereum hood" , perhaps my comment can add relevant perspective that explains why Ethereum should not be regarded as a direct BTC competitor, but still is.
All the best, and thanks for the article!
The only reason I think that bitcoin holds the top spot is that there is no office, no management team, etc. No one for the government to raid, pursue bogus charges, no building to shut down. Time will tell.
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