A few weeks ago we saw a break out of the other crypto currencies, but as soon as Bitcoin started to move upwards there seemed to be an 'alt coin' sell off.
The charts now seem to indicate, and I'm no expert, that people are more bullish on the 'alt coins' and fear a rise in bitcoin, which might spark a sell off, less than ever.
Are people finally realising that bitcoin, although first to market, is aging rather badly from a technological point of view.
I used to see bitcoin as the least risky as, % wise, it was the most stable of all the cryptos but this seems less clear cut over the last month.
I read an article today that showed Bitcoin to have less than 70% market cap of all cryptos for the first time ever. I would imagine that this reduced dominance will continue into the future. Who knows, maybe bitcoin will only be a 'bit' player in a year or two.
Bitcoin has been big brother to superior blockchain technology for too long, as most of us are aware here with Steem, and it's now time for Bitcoin to take more of a backseat in this investment space going forward.
Thank you for the informative post!
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Especially with all the talk of a Bitcoin hard fork. I think it is their governance - or lack of good governance - that is most damaging for them. Otherwise they might be able to evolve but without cosensus... There are so many interesting alt coins!
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