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Much time on the clock – financial experts do not yet see Bitcoin as unattainable

Since it was founded in 2009, Bitcoin (BTC) has been by far the largest and most successful cryptocurrency of all. There is now a lot of competition, but can a project ever catch up with today’s market leader?

“We are still in the first quarter of an hour and Bitcoin is currently clearly in the lead, but just like Bayern back then against Manchester it can still turn out differently than you think”, Daniel Strachman, partner of the financial consultancy A&C Advisors LLC, compared in this context Cointelegraph explains. To this end, he explains: “Ultimately, the behavior of the market and the interests of investors are decisive. There are many voices who believe that at some point ETH will overtake BTC, and that is actually a conceivable scenario, but a few more minutes of play have to pass before we can really say that. “

The crypto industry has already gone through several market cycles, and has grown a little bigger with each one. The market capitalization of the individual projects has meanwhile become correspondingly considerable. According to CoinMarketCap, almost all top 100 cryptocurrencies currently have a market capitalization of at least $ 1 billion, which clearly underlines the steady growth of the entire market.

The technology behind it has also developed fundamentally since Bitcoin was launched, which is why the thesis keeps coming up that another project could overtake the market leader in the future. But what would it take for this to happen?

“Added value and investor interest are the two factors that could one or even two crypto currencies slip past Bitcoin at some point,” as Strachman answered this question.

Bitcoin is relatively clear for Bitcoin, because with a limited and relatively scarce supply, the added value of the market-leading cryptocurrency lies primarily in its function as a means of protection. In addition, she has a sworn following and the highest degree of recognition in the mainstream, which gives her a good starting point for further success.

“The crypto market is an asset class that is here to stay,” as Strachman points out. Even if the market leader has the lead, he still sees opportunities for a future change of power:

“It won’t just go away like that. If a cryptocurrency should manage to overtake BTC, it will be because of the added value and the interest of investors. If we look at which companies were the biggest in the 1980s, it was Exxon, GM, Ford, and Texaco. Today, however, Apple, Microsoft, Google, Saudi Aramco and Amazon are at the top. Times change, but that’s perfectly fine, because that’s how the free market works. “

The likelihood of a changing of the guard is there, but difficult to determine. Actually, Ethereum (ETH) are given the best chances for this, but there are also voices who consider this scenario to be completely unthinkable.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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