After several hectic months, the market for cryptoscopes has come to a potential comeback. Bitcoin trades more than $ 9,000, with an increase of more than 10% over the past few days, Ethereum is over $ 650, rising above 15%, while Ripple is trading at $ 0.86, up 6%.
The recovery of cryptosanisations is accompanied by increased volumes and spreads across the market. Despite the boosted earnings of CryptoBanking, Bitcoin remains the market leader, with Ethereum and Ripple remaining far behind, both in terms of capitalization and volume. What does Ethereum and Ripple need to overcome Bitcoin in both capitalization and volume terms?
Their prices and volume should be strengthened for a longer time than what Bitcoin needed. “It would need a price increase that totally outperforms Bitcoin’s and for a fixed period of time,” said Digits.io Managing Director, Ben Way. “Markets are not always reasonable and today Bitcoin is the gold standard in the market because it is the currency everyone knows.”
Simply put, Bitcoin is a “brand” that feeds all the popularity that attracts investor interest and eventually boosts prices and volume in cryptographic markets. Darren Marble, Managing Director of CrowdFundX agrees. And that’s why he does not believe that Ethereum and Ripple can overcome Bitcoin. “I do not think Ethereum or Ripple will ever win Bitcoin,” says Marble.
Why; “First of all, Bitcoin is a dynamic brand, most of which is Bitcoin, not Ripple, Bitcoin has value in the market, and that can not be underestimated.”
Michael Shepherd, Vice President Marketing at Rewards.com agrees, given Bitcoin’s advantage that he came first. “Having first come out on the market, Bitcoin benefits from free marketing and branding,” says Shepherd. “I believe that in order to move Bitcoin from the first place, it will be necessary for the other currencies to be the first to be transparently integrated into the current payment options.”
How; “Making mainstream cryptos and allowing them to be used like any other means of payment can attract some users who have not yet attracted crypto-notes.”
Robert Masters, director of Blue Chip Vision, sees this scenario as distant but likely. “It may be possible either Ripple or Ethereum to overcome in the long run the Bitcoin capitalization cap if future protocol improvements and continued support of global economic actors are implemented.”