With a market value of over $11,500 bitcoin is certainly the most talked and the most sought after digital currency today. The journey was quite a bumpy one. Many analyst never gave it a chance with some predicting its demise as far back in 2014. Being the first crypto currency ever in the world, it is expected that not everyone will jump right inside the wagon.
With bitcoin steady rise in value towards the end of 2017, lots of folk are already calling it the king of crypto currency. Will you blame them? Bitcoin alone controls more than 60% of market capitalization of all crypto currency transactions. Indeed Bitcoin is at is prime at the moment.
The question right now is, will Bitcoin remain the dominant digital currency? Some analyst believe bitcoin bitcoin will continue to dominate market transactions for many years. Some however are of the opinion that another crypto currency might just take over from bitcoin as the dominant digital currency, citing aging bitcoin technology, slow transactions, coupled with high energy consumption as reasons. The high transaction fee is another factor some analyst say will work against bitcoin stating that developers of Altcoins might just exploit the loopholes in bitcoin to develop digital
What ever the case is, the competition will certainly be fierce this year for all crypto currencies. With a market capitalization of about $800 billion, surely there is room for more competition with the fiat currency. As more people around the globe accept crypto currencies, the possibility of another coin emerging as the numero uno digital coin can never be ruled out.
