Market Outlook: Can Ethereum Ever Replace Bitcoin?

For the past months now, the struggle between Bitcoin and Ethereum has been the main issue on the crypto ecosystem as far as Cryptocurrency is a concern.

Now that Bitcoin and Ethereum are more volatile even as their price plummet with a percentage of 25% and 45% since their recent ATHs.

Bitcoin and Ethereum are two Cryptocurrency with different potentials, mission, and vision; therefore, it is advisable to understand their differences to get a clear idea if bitcoin can be replaced by Ethereum even if bitcoin plummets in Value.

Well, for now, I don’t expect Ethereum to be a potential challenger to replace Bitcoin.

Bitcoin itself is a clear, pure and powerful Cryptocurrency. It is a currency which is not owned or controlled by a group of individual or a country and is open to the public.

Bitcoin has the largest protocol in all levels. Currently, there are over 200 developers contributing to bitcoin which makes it the favorite of all Cryptocurrency with the largest market capitalization. In view of this, it will only take a miracle for Ethereum to replace it even if it plunges.

Even though bitcoin and Ethereum are very volatile, both coins always seem to still survive the volatile phase. Bitcoin has survived for 9 long years of attempted government regulations, bad press, a shit ton of ICO tokens and other constant attacks. Bitcoin still remains the most decentralized and purest Cryptocurrency till date.

Bitcoin has the largest utility tokens compared to Ethereum, That is, it has the highest token used within Cryptocurrency platforms as a payment method. In view of this, just a few Cryptocurrencies are listed as a utility token in an area of Cryptocurrency exchange and not all crypto wallet have Ethereum exchange compared to Bitcoin. This makes Bitcoin a major universal Cryptocurrency.

The idea of a utility token is to give Cryptocurrency users the chance to transact on the platform by using Cryptocurrency instead of traditional money or physical cash.

Bitcoin has a lower coin supply and is more usable than Ethereum, though Ethereum has better-advanced technology and more applications than Bitcoin.

There are speculations that bitcoin will one day fall and be replaced by Ethereum.

ETH may be similar to bitcoin, it doesn’t mean it is better and can replace Bitcoin even if it nosedives. Like I said, Bitcoin is original, pure and the mother of all Cryptocurrencies and cannot be replaced by Ethereum or any other coin.