This above is the well known Bitcoin Dominance chart. It keeps making lower lows and lower highs.
I hold zero BTC in my portfolio. In the scope of an investor, there are plenty other cryptos with much more potential. Bitcoin remains the safest cryptocurrency with its proof of work, but people are starting to understand that it has very limited use cases, very slow transaction speed, and cannot scale. In short, it is getting old and it is harder to get returns like 2x by holding BTC (that would mean a 100k BTC right now).
The FLIPPENING didn't happen, yet. But it is getting closer. Current BTC marketcap is 882B while ETH is 420B.
We can't see much information on this chart, that is why I coded a simple indicator that put into perspective the progress of ETH getting over BTC in market cap. (You can get it on my profile scripts page)
The chart shows Bitcoin marketcap divived by Ethereum marketcap. On September 2019, Bitcoin's MarketCap hits ATH against ETH, by being 10 times bigger. Today, the ratio is about 2x only. When this ratio drops below 1, the FLIPPENING will happen. We can easily draw a descending channel on the daily. This helps forecast an approximative date for said FLIPPENING: IF WE REMAIN IN THIS CHANNEL, THE FLIPPENING WILL HAPPEN BEFORE FEBRUARY 2023. A breakout is possible, but rather unlikely.
My point is: I don't want to miss the train. Some cryptocurrency projects are building the future of the internet RIGHT NOW, and bitcoin isn't. It is going to be replaced.
I will then be looking at some of the biggest layer 1 opponents which are popping off right now. I like to call them Bitcoin Destroyers. Here is 8 of them: All of them are beating Bitcoin right now and could stand a chance at replacing him in the long run.
U forget ada , and it's number 1 in transactions volume
cyatophilum
⋅
@erikmorgan97, personnal opinion but I don't believe in ADA
Minimal_Est
⋅
The only thing you got wrong is the speed and fees of Bitcoin, if you use L2 Lightning network its faster than all the others and just as cheap if not cheaper
cyatophilum
⋅
@Minimal_Est, true, but Lightning network is NOT part of bitcoin, in fact it is built on top of it.
Minimal_Est
⋅
@cyatophilum, there a few coins out there that solve the crypto trilemma, so its really hard to choose one, id rather choose bitcoin still than any others. There are many that are fast and cheap but are centralized or still not so secure so imho its still the best investment out there. I my self dont own any unfortunately as i had to choose " cheaper " coins. Nevertheless in the future it is the only one i would put all my faith in for the moment. In any case NFA or anything like that, just my 2 cents here.