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Towards an all-time high: Bitcoin could sustainably rise above $ 50,000 | 09/07/21

Bitcoin could now rise sustainably above the $ 50,000 mark. After the all-time high of $ 65,000, the mega-mark of $ 100,000 would then be targeted. From Gerd Weger

Bitcoin is approaching a market capitalization of $ 1 trillion again. The entire crypto market has now clearly exceeded the two trillion dollar mark. With Bitcoin rising above the $ 50,000 mark, it should now be targeting its all-time high.

But the boom that has been going on since the beginning of the year is also continuing with altcoins. In the meantime the end was prophesied time and again, but it is not so. A look at the top coins confirms this assessment, because all of them – with the exception of stablecoins, of course – have exceeded the performance of Bitcoin many times over. Therefore, investors should also invest part of their crypto investments in large and promising altcoins.

Ethereum outperforms Bitcoin

A case in point is the second largest cryptocurrency, Ethereum, one of our favorites. While Bitcoin has increased by 76 percent since the beginning of the year, Ethereum has increased by 443 percent, which is almost six times as much. The leading smart contract platform was partially a victim of its own success, which was caused by the boom in DeFi, NFTs and stablecoins. Because of the great demand, there were always major scaling problems with the consequence of excessively long transaction times and a sharp rise in fees. Nevertheless, all self-appointed and potential Ethereum killers such as Cardano, Polkadot or Solana have not been able to nibble on the supremacy of the number 1.

Since the London Hard Fork, the last update in early August, some of the ethers paid to the miners have been burned. This means that the inflation rate for Ether is still higher than for Bitcoin, but it was already deflationary for individual blocks. Burning the ethers invalidates the argument that ethers are inflationary in contrast to Bitcoin because of the fundamentally unlimited number of coins. Ether has recently seen strong growth again and is only ten percent below its all-time high. With Bitcoin this is currently 30 percent. A flipping that was hardly imaginable months ago is becoming more and more tangible. Then Ethereum’s market capitalization (currently $ 456 billion) would surpass Bitcoin’s ($ 972 billion).

After we have already presented six of the seven to four weeks recommended coins in more detail, today there are a few comments on Litecoin. Since then, this has also outperformed Bitcoin. This should continue with a further upward movement in Bitcoin. Because in the past Litecoin was sometimes up to five times the price of Bitcoin. Litecoin is a Bitcoin copy from 2011 and thus its smaller brother.

Editor’s note: Investors can now invest widely in the crypto world with the Euro Krypto Maxx certificate (ISIN DE000LS9RPE9). In addition to selected cryptocurrencies such as Bitcoin or Ethereum, the Euro Krypto Maxx also invests in the entire value chain of cryptocurrencies from mining to payment. Further details on the Euro Crypto Maxx can be found at Wikifolio.

There have been some improvements in the protocol. Litecoin is therefore much faster in transactions than Bitcoin. With the next big update MimbleWimble, Litecoin will be more anonymous. With the increasingly high absolute price of Bitcoin, Litecoin is becoming more and more attractive as a “cheaper” alternative.

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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