Summary
Bitcoin’s value is the lowest it has ever been relative to the total coin market cap.
Bitcoin is improving slowly but lags behind Ethereum and Ripple in functionality today.
I would not hold Ripple long-term due to its centralized nature, but it is great for sending money overseas.
I expect Bitcoin’s price to decline in the first half of 2018.
Summary and Thesis
Bitcoin (COIN, OTCQX:GBTC) gains its value from being synonymous with cryptocurrency for many traders and speculators. This brand advantage is based on Bitcoin being the first entrant into the market and based on Bitcoin’s historic market cap advantage over its peers. But Bitcoin is losing its market cap advantages over competing coins. This is concerning since Bitcoin’s only advantage over peers is its larger size and its brand.
Bitcoin offers few, if any, advantages over other cryptocurrencies. For nearly any task there is a cryptocurrency that is more suitable than Bitcoin. If Bitcoin were to be overtaken by another cryptocurrency, it is uncertain Bitcoin could recover.
Ripple has performed well, in terms of price, and offers amazing performance for sending money. I recommend using Ripple for money transfer, but centralization concerns prevent me from recommending long-term holdings in Ripple.
I do not recommend long-term speculation in either Bitcoin or Ripple. Traders may profit from Ripple’s fast, nearly-free transactions.
1. Bitcoin Is The Weakest It Has Ever Been
Read more at:
https://seekingalpha.com/article/4135090-bitcoin-weaker-ever-ripple-good-alternative
