Which Cryptocurrency is the next Bitcoin? It Just Gone Viral!
Any monetary asset, sooner or later, but must give way to other currencies. Digital coins are no exception. Since far 2009, Bitcoin remains the largest cryptocurrency, both in terms of capitalization and in terms of price. But this cannot go on forever. Some experts say that the day is near when BTC will go by the wayside and a new currency will replace it. But which one? Today we will answer the question “what cryptocurrency is the next Bitcoin?”, having examined all the nuances. So let’s get started.
Which cryptocurrency will overtake Bitcoin? And why should this happen?
It should be understood that technological progress does not standstill. Digital assets appear with enviable regularity, at the moment there are already more than 5,000 cryptocurrencies. Most of the coins modify the flaws of the first crypto, in every way improving Bitcoin. That is why an asset created in 2009 is finding it increasingly difficult to compete with young solutions. Bitcoin, frankly, is gradually becoming obsolete. Of course, the coin is still interesting to large investors, but the anonymity, scalability and speed of the system are already inferior to modern assets. That is why today already think about which coin will replace Bitcoin. The most obvious candidate for the role of the main crypt in the industry is Ethereum (ETH). This coin currently ranks second in the lists of the most popular cryptocurrencies.
The coin is actively developing, continually improving and exploring new markets. Thanks to Ethereum, today anyone can create a high-quality application running on the Blockchain. ETH also brought a lot to the industry by creating a flexible system for issuing its own cryptocurrency. Thus, many other coins appeared. Smart contracts that make money transfers safer and faster – this is also the merit of Ethereum. Therefore, we can conclude that the role of ETH in the industry is no less than the role of Bitcoin. But if the latter is gradually becoming obsolete and in no hurry to develop, then Ethereum is continuously updated. Moreover, in 2020 it is planned to switch to the second version of the system. Such a major event will allow integrating a new mining algorithm into the platform, which will make coin mining easier and more affordable.
That is why it is most likely that Ethereum is the cryptocurrency that will overtake Bitcoin. To clarify, by superiority we mean a great price and capitalization that exceeds Bitcoin. It is by these two criteria that the market leader is determined, and it is in them that ETH, sooner or later, will surpass Bitcoin.
This infographic by Etoro compares SIX MAJOR CURRENCIES, so you can analyse the possibility of replacing the Bitcoin by yourself.
When to expect major market changes?
It should be understood that changing roles in the foreign exchange market is a prolonged process. It is impossible for such a serious asset as Bitcoin to disappear in a day or two; it takes years to update positions. According to the most conservative estimates, the sunset of the first cryptocurrency is expected by 2025, and Ethereum will replace it. As there is still plenty of time, you can start investing in ETH today. But you should not forget about Bitcoin. It is foolish to deny that at the moment, this is the most profitable currency, which will remain relevant for at least 5 years.
Do not panic, but prepare for market changes in advance. Distribute your own investment portfolio. We recommend balancing the set of available assets by diversifying them with the above coins. Thus, you can make a profit at all distances. The presence of a fundamental percentage of BTC will allow you to earn at a rising price, making a profit right now. At the moment, Bitcoin is increasing in value, growth is expected throughout 2020. The coin wins due to the general economic crisis, allowing its owners to earn money here and now. But in the future, thanks to deferred units of ETH, everyone will be able to earn in the long term. Of course, the portfolio can be supplemented with other assets, about this we have separate articles. Trade and mine currency wisely, then success will not be long in coming.
And now you know what cryptocurrency will overtake Bitcoin. Follow all the news of the crypto industry on our website. We publish only high-quality and interesting material. Thank you for your attention. Good luck!