Why all altcoins will be zero in the upcoming time but bitcoin will still rise.
Understanding the key functionalities of Bitcoin which makes it a better option than the other Altcoins:
Many cryptocurrencies in the market were developed after Bitcoin due to the scalability as well as security issues which the network experienced due to the high amount of network congestion. Most of the Altcoins stood the test of time and have become some of the most prominently used cryptocurrencies along with Bitcoin. On the other hand, some of them have most of them have just added on to the pile of cryptocurrencies that are absolutely worthless to the society. Therefore there are both types of Altcoins which are predominantly incorporated in the cryptocurrency domain in general. The Altcoins along with Bitcoin have been very fluctuating in the cryptocurrency market in general as it is in its developmental stages. According to experts, this volatility would be eradicated in the future.
Bitcoin is dominating
From time immemorial it has been witnessed that the prices of the Altcoins have been fluctuating along with the prices of Bitcoin as Bitcoin is the most dominant cryptocurrency of all times. However, the specific relationship between the pricing of Bitcoins along with other Altcoins has not been deciphered until now. But on a general basis, it is it has been witnessed that the prices of Bitcoins along with the Altcoins go hand in hand and are directly proportional to each other.
In accordance with the most recent cryptocurrency production, the price of Bitcoin will reach up to $40, 000 levels, whereas, the prices of Altcoins will receive a major blow. According to the predictor, the cryptocurrency tokens would not be able to manage the popularity and the risks required in the market and therefore it is witnessed these days that many of the cryptocurrency tokens turn out to be a scam. Specifically, by the end of 2018, 5 or more Altcoins would be exposed as a scam.
Let us try to decode the fundamental concepts that make Bitcoin highly valuable and the other Altcoins not:
1. The cryptocurrency blockchain platform is the only among 1500 other similar platforms which are absolutely censorship resistant, which means no government authority, by any means, can snatch your Bitcoins from you. Bitcoin even provides an anonymous and store of value which the other Altcoins fail to provide.
2. Bitcoins have proven to provide an anonymous medium of exchange, as the cryptocurrency users can effectively transfer the data without the intervention or resistance of any government or financial institution.
3. Bitcoin is very different from all the other Altcoins as it is inflationary proof in nature. This concept of inflationary nature can also be applied to many other Altcoins but due to the other set of Technical complexities, it cannot be compared with Bitcoin.
Further Bitcoin endorsements
Also, many cryptocurrency experts have predicted the exponential rise of the Bitcoin price in the near coming future. Some of the experts in the list, include John McAfee, the most famous former computer programmer and currently a cryptocurrency enthusiast. He has predicted the Bitcoin price to reach up to 1 million dollars by the end of 2018 and his arguments are supported by the technical specifications and his last year prediction of $7, 000 was also well surpassed.
Even Tom Lee, a key personality in the Fundstrat, predicts that the value of Bitcoin might reach up to the levels of $25, 000 in the near coming future. In fact, he considers $9, 000 to be a very low level for Bitcoin, as a high number of cryptocurrency buyers would be available. This has never been witnessed in the case of Altcoins. The cryptocurrency believer is looking forward for all the institutional investors, in order to come forward and keep the market capital of Bitcoin in stable condition
Bitcoin is highly reliable than the Altcoins on a long time basis
The price predictions on a long-term basis would be highly reliable as the intermediary fluctuations would not be worth considering in case of Bitcoins and not the Altcoins. It is also estimated that it would become the topmost virtual cryptocurrency in the future. As Bitcoin is considered mostly to be a store of value the prices are high and expected to increase. Some of the other Altcoins such as Ripple are on the verge of extinction as a cryptocurrency itself.