Lots of you are worried about BTC falling below the price of its competitors, especially ETH. Hundreds of start-ups are appearing every month and that gives a lot of BTC holders a headache because you think that ETH will start surpassing Bitcoin. My question to those thinking that is: “Why are you even thinking about that?” It is just a simple stupid thought. It true that other blockchains such as that of Ethereum, which is “better” in some ways, in the sense that it has many more possibilities to play with than that of BTC. (By the way, if you still do not have a clear idea of what a blockchain is, I recommend you reading our article about the blockchain).
I am sure you have all seen the recent rise of BTC, which in my opinion is astronomical. It is just simply amazing how a digital currency can rise so quickly, don´t you think? In this article, I will tell you why, in my opinion, BTC will never be beaten by other cryptocurrencies in terms of price.
1 – BTC is the pioneer
That was not much of a surprise you would say, and I can tell you right now that yeah, it isn´t much. However, this is the most important reason because being a pioneer is very well seen by investors and especially for not so regular traders like most of us. Just think about it for a second, the more “experience” you have, the more confidence you will make everyone feel about you, and you can´t argue that BTC is the one with most experience.
Let´s just put a simple example. Just imagine that two people go to an interview for a job in a shoe shop to be the cobbler. A first contestant is a young fellow that has been making shoes for a year or so. The second person is already an experienced shoemaker with more than 30 years of experience. If you were the owner of the shop, which one would you pick? I have no doubt that most of us would pick the second contestant since he is probably, more efficient, faster and he probably knows how to produce a wider range of shoes than the first contestant. Well, this is exactly how people see BTC, it is the oldest of all, but that does not mean that it is worse, in fact, it just gives a sense reliability towards their investors. Remember, pioneers have a great advantage, always, in any industry.
2 – Most Known Cryptocurrency
How many times have you told your friends, family or anyone about cryptocurrencies and they look at you like if you were the most stupid person in this entire world? However, you then ask them: “Do you know BTC?” And suddenly their eyes shine like light bulbs and then they reply: “OF COURSE I KNOW BTC!!”. In that moment you realize that most of the society knows what BTC is, but when you talk about an altcoin they just don´t understand anything you are saying.
This is important since it is more known by the rest because of what I previously told you, the Pioneer. Another reason why BTC is more known than others because of the problems they had some years ago, to which we will not discuss here.
3 – Many have already invested in BTC
In here, we should also add the market capitalization of BTC (have a look at our list). Many have invested in BTC and that is just how it is…
Let´s put it this way. Your friend just comes excited to you and starts saying how he is making so much money with this “thing” called BTC and you ask him what in the world BTC is. He starts explaining everything until he convinces you by saying that everyone is investing in it and how everyone is stating that it is a beautiful project etc. You then realize that you must invest in BTC if you want to make some capital. This is how BTC grew so much, and this is how BTC will continue to grow, you can´t just deny it. Humans see opportunities but don´t take them until someone else has since we are scared to take a bad decision. When you see that someone else is being successful, then you also take the same path.
4 – Highest volume
Of course, volume… It had to be on this list… It is the cryptocurrency with most volume of all, and that is crucial. Volume is what most investors look into before investing in something. Of course, BTC has the highest volume of all. This basically means that there are more transactions being made with this cryptocurrency than with the rest of currencies. If you didn´t know, the more volume a cryptocurrency, the better chances it has to rise, but of course make sure the volume is positive (ie that people buy the cryptocurrency, not sell it) otherwise it will fall, not rise.
What do you think about this? Do you think that BTC will ever be beaten or not? Why? Tell us in the comment section down below. We hope that you enjoyed reading this article and we hope your investments are going in the right way.
And as always…