24
Mar

Ethereum vs Bitcoin – Who rise, who fall and why

  #Ethereum vs #Bitcoin

 

Theoretically this should be the best year at all for Bitcoin: price increased, major adoption by “mere mortals”.. Anyway, this could be the last year for Bitcoin, as we know it.

In these days Bitcoin Community is living a sort of “Civil War”: in poor words, who wants more scalability (bigger block size=more and cheap transaction per block)  and who think that this fact is not so much important. These diatribes inside the bitcoin community are a damage for the Bitcoin Community itself (lot of people are leaving Bitcoin to other Cryptocurrency) and for who is not part of Bitcoin’ Fan Club but anyway try to accept it as payment method (ex: this morning i bought a coffee and payed using Bitcoin. I paid 0,38€ of commission).

This “issues” and the threat of a Hard Fork, is scaring everyone (except Devs, they seems “sure of the future of Bitcoin“). Anyway, this fear is having consequences on Bitcoin price: while i’m writing, the BTC is falling under 1000$ (and seems it’ll not stop). But where are going these founds? Probably lot of them are exchanging their founds in euro/dollars/yuan, but there is a big part that is moving its founds on Ethereum.

If we order the major Cryptocurrencies by last 24hrs volume of $, we can see that Bitcoin is always the leader, but Ethereum is growing fast.

1 $15.985.826.718 $984.69000000 $1002.1276 16.234.375 $406.622.000 -6.04%
2 $4.363.940.935 $48.45419731 $45.6725 90.063.218 $230.190.000 16.13%
4 $372.277.494 $0.00995688 $0.0098 37.388.960.792 $26.623.100 20.72%
12 $44.955.357 $1.00010000 $1.0001 44.950.863 $25.611.100 0.00%
3 $748.201.714 $104.14762065 $103.3182 7.184.050 $24.248.000 4.16%
5 $300.255.335 $21.18673642 $21.4973 14.171.854 $11.686.000 -1.20%
6 $217.847.507 $2.41991506 $2.3294 90.022.791 $10.378.700 6.45%
7 $208.001.841 $4.13274772 $4.1052 50.330.157 $9.909.070 1.97%
11 $63.649.624 $68.08946590 $66.6787 934.794 $5.381.500 2.04%
15 $34.406.960 $3.93077793 $3.8075 8.753.219 $2.818.920 7.67%

 

Standings this data, seems that a big part of Bitcoin user balance is moving its founds to Ethereum and Ripple Coin. Anyway, due Ripple Coin is growing since some days and the deep falling of bitcoin started today, i think that a big part of them gone into Ethereum.

Is this only a move to reduce damage? This price growth is not correlated due bitcoin? In part yes, but we are sure that, this think was already out there: Ethereum is proving its value since months, and we are sure that several investors was waiting the right moment to move their founds. Don’t forget that every Coin that use the ethereum network (like Golem, Augur etc.), give value to the network itself.

Will bitcoin rise up again? We don’t know, maybe yes, maybe not, anyway seems that surprises don’t end here.

 

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