Just few hours ago, bitcoin was trading at an all time high price of $3,000 before it slipped downwards, Bitcoin is currently moving at a price of $2673.95 while ethereum continues to push towards $400 with a current price of $390. Cryptocurrencies, as a whole, now hold over $100 billion in market cap for the first time. While bitcoin (BTC) leads the pack at just over $46.6 billion, or 47.9 percent of all cryptocurrencies it has gradually diminished over the years and loosing ground to other cryptocurreny(ethereum)
Am sure you would be wondering while the shift, two major factors are responsible for that; Over the years, new sophisticated technology have emerged, whether to adopt or not has brought about two rival fraction with different views on how bitcoin transactions should be handled >>>Read more about Segwit Activation here<<<<
Bitcoin holders are rapidly switching to Ethereum as it has all the technology that not only does everything Bitcoin can do faster, but in higher volume and at a lower cost. Bitcoin transactions are taking longer to approve and imagine a whooping $4 transaction fee on a transfer of 10$.
Ethereum which i consider as a decentralized applications (dApps) running on a peer-to-peer network of computers. These dApps are designed to replace our traditionally model like banks, public registries, and the legal system. Lots of developers and startup are embracing ethereum technology which are all part of the decentralized application(dApps)
Initial Coin Offerings (ICOs) and token sales are making us of bitcoin as a means of sale which in effect is hyping the ethereum community and providing more sales to the decentralized application.
Ethereum is quite different from bitcoin as its a total dApps built on a group of network. Lots of people are diving to the newly developed technology and as a result price is increasing and the trend is expected to continue.
Share your views via the comment box.