Roger Ver, once proudly known as the “Bitcoin Jesus’, predicts that Ethereum will overtake Bitcoin by the end of 2018. Bitcoin holds the trophy for being the world’s first successful cryptocurrency, however, in more recent years, altcoins have threatened to more successful.
Cryptocurrencies like Ethereum and Bitcoin Cash are technologically superior to Bitcoin. Even Bitcoin Cash is expected to surpass Bitcoin by 2020. This moment in history is being called “The Flippening”.
Bitcoin is facing issues from users due to high transaction fees and slow transfer times.
“More than 1,500 cryptocurrencies have entered the market since Bitcoin’s 2009 inception in attempts to overcome Bitcoin’s ‘limitations’.” – Roger Ver.
Bitcoin’s made way for other cryptocurrencies to be publicly accepted while the altcoins optimized cryptocurrencies to a whole new level. This transition is shown in Ethereum’s market value. Ethereum has gone up 1,000% (~ $800) and Bitcoin Cash has risen from $500 to ~$1,700. In the meantime, Bitcoin has only gained 450% in value.
The number of Ethereum units circulating today is 5 times that of Bitcoin. Bitcoin Cash became a worldwide phenomenon in 2009 and has remained so till 2017. It gained popularity as being a better version of Bitcoin with a superior economic code.
Roger Ver’s speculation is not accepted by many cryptocurrency experts. Bitcoin has shown that it can stand the weight of criticism. Building on Bitcoin Cash’s technique, Bitcoin overcame several of its shortcomings and became a favorite again in 2017.
Michael Jackson, former Skype COO, now in Mangorve Capital Partners, said,
“Solutions are being brought for Bitcoin’s scalability issues. Bitcoin is by far the best cryptocurrency and the reserve cryptocurrency.”
Ver accepts that Bitcoin may still remain at the top; however, Bitcoin Cash doubled its value in the last month. The higher utility of BCH and Ethereum will switch their hundred dollar values to thousands soon.
Being newer to the cryptocurrency world than Bitcoin, Ethereum and Bitcoin Cash take hits harder than Bitcoin. The past 24 hours saw Ethereum drop by 11.96 % and BCH by 17.07%, while Bitcoin only lost 8.68%.
Experts note that this hit and climb is part of the cryptocurrency world and the volatility is just a sign of a growing and maturing market.