After several floundering months, crypto markets have managed a big comeback. Bitcoin trades above the $9,000 level, which is an 11.48% increase through the last seven days. Ripple managed $0.84 a 5.96% increase, while Ethereum now trades above $650, a 16.47% increase over the same time frame. This comeback is joined by swelling volume and moves across the whole market spectrum. Can they Beat Bitcoin?
It must be said that despite the recent broad virtual currency gains, Bitcoin continues to maintain its position as the market leader, while other top cryptocurrencies including Ethereum and Ripple remain far behind, in market cap and volume.
How Can Ethereum and Ripple beat Bitcoin in Both Market Cap And Volume?
Their volume and prices must surge ahead of Bitcoin for some time. Ben Way, CEO of Digits.io, believes the price surge must completely outpace Bitcoin for a sustained period. Because bitcoin captures the interest of investors easily thus it can move prices and volume in crypto markets, CEO of CrowdFundx, Darren Marble believes that Ripple and Ethereum don’t stand a chance against Bitcoin. Bitcoin is a strong brand. All original stories regarding cryptocurrency markets are about Bitcoin which must be considered.
VP of Marketing for Rewards.com, Michael Shepherd, is of the view that for Ripple and Ethereum to unseat Bitcoin, they need to integrate their tokens with current payment options transparently. Hence by allowing cryptocurrency to be used like other forms of payment, it can hit a user demographic that has been mostly untapped by current virtual currencies.
The Managing Director of Blue Chip Vision, Robert Masters, sees a possibility for Ethereum or Ripple to beat Bitcoin in the new future if future protocol improvements are implemented along with the continued support of financial heavyweights.
Investing in digital currency is a speculative endeavor, and the market isn’t well regulated. If you are considering it, you must be prepared for any scenario.