I agree and I will double on your comment: if you take a look at the chart BTC/ETH on coinmarketcap you will see the following things:
1. Ethereum value in Bitcoin is very low now; after the June pump it's been going down a lot;
2. What makes the public perceive that ETH is still good in terms of price is the fact that in US dollars the value is performing well.
Point 2 is the consequence of the BTC value going UP! If BTC goes up, all the altcoins perform well in $ because BTC is outperforming any fiat currency in the world!
The only value I care for is the BTC to USD one. BTC has no competitors in the crypto world as we speak.
You know which is the horse to pick here!
Topic: [2017-10-06] BTC price rises more than rival cryptocurrencies in third quarter (Read 1386 times)
October 07, 2017, 04:14:28 AM
October 07, 2017, 04:05:35 AM
But there was a threat once from Ethereum. They have even said that bitcoin would be relegated to the second spot because Ethereum is taking over. But unfortunately, the so called "flippening" didn't happened and Ethereum stays at the no. 2 spot and didn't get the hype after that. Bitcoin is really resilient from such challenge and will shrug it off without batting a eye. There's no doubt that in the next 5-10 years there will be a lot of altcoins that will try to challenge the dominance of bitcoin but they will all succeed. Bitcoin has already captured most of the market and will likely remain at the top because more people will join the bandwagon because they don't want to miss the opportunity that bitcoin provides.
October 07, 2017, 03:40:47 AM
- Bitcoin was the top performing cryptocurrency out of the top five in the third quarter
- Investors shifted from altcoins like ethereum back to bitcoin
- Bitcoin had an eventful quarter including a "fork" and increasingly stringent regulation from China
Bitcoin was the top performing cryptocurrency in the last three months, despite the mega-rally earlier this year in so-called alternative coins, or altcoins. Out of the top five cryptcurrencies by market capitalization, bitcoin reigned supreme in the third quarter. The digital currency was up 74 percent. Bitcoin cash, the digital currency created after bitcoin split, was not included as it was not trading for the entire quarter.
More @ https://www.cnbc.com/2017/10/06/bitcoin-price-rises-more-than-rival-cryptocurrencies-in-third-quarter.html
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