Bitcoin (BTC) is and will always be the best cryptocurrency in the market. This is what Max Keiser suggested during another episode of the Keiser Report. As he stated, Bitcoin’s dominance over the last few years has been pushed higher by Bitcoin. From 33% between 2017 and 2018, Bitcoin now represents over 65% of the total market valuation in the cryptocurrency space.
Bitcoin Remains the Favourite Coin
During the last years, there has been a large number of projects that aimed at solving many things that Bitcoin couldn’t handle. In addition to it, several altcoins aimed at creating solutions for many problems in a wide range of industries. One of the periods with the largest number of projects launched was between 2017 and 2018.
Nonetheless, these projects have no intrinsic value according to Max Keiser. Indeed, Bitcoin remains the largest cryptocurrency and the one that has proved to be here for the long term. Meanwhile, several coins that were created during the Initial Coin Offering (ICO) craziness are still over 99% down from their highs and do not show signs of recovering in the near future.
Keiser has also moved on by saying that Bitcoin will overtake gold while many altcoins will disappear in the coming years.
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Altcoins that were created by companies through Initial Coin Offerings (ICOs) in the last years may never recover from their bear market. Indeed, some of these altcoins were only used to gather funds through the Initial Coin Offering period in the last years. Just a few ICOs were able to successfully reaching the top 100 but not all the coins were able to experience the same growth.
Bitcoin, instead, is the largest cryptocurrency in the market and has been the largest since it was created. While some coins were close to overtaking Bitcoin in the past – including Litecoin (LTC) and Ethereum (ETH) – none of them was able to do so, showing the entire resilience that Bitcoin had in periods of crisis.
Moreover, Bitcoin is the most liquid cryptocurrency and the one that is accepted in most places around the world. There are several shops accepting BTC for goods and services, and it also became the favourite option for traditional and larger investors.
Thus, the future seems to belong to Bitcoin rather than to other digital assets in the market that have been created in the last years.