The rise of Bitcoin in 2017 has made it the hottest topic when it comes to investment. And there is no denying that nothing can come close to Bitcoin when one compares the rate of growth. Like any investment trust is the most essential ingredient. And when people like Bill Gates, Richard Branson, John McAfee, praised or even hailed bitcoin suddenly more and more people developed faith in Bitcoin. Several viral videos hailing Bitcoin helped Bitcoin rise to a whole new level. And when somebody influential said negative things it affected Bitcoin's growth. Cryptocurrencies like any investment are based on trust and number 1 crown will always be of the one that is most trusted by people and gives greater return.But there are some things that have changed.
People are realizing that the special thing about Bitcoin is the Blockchain technology that it is based on. And there are several other cryptocurrencies that use the same technology. This is the reason why alternate cryptocurrencies are surging and Bitcoin is dropping and at risk now.
Another factor is that Bitcoin has grown so rapidly that a lot of people are worried that its going to fall now and want to invest in a currency where the stakes are lower and there is lot more room to grow.
And finally people are not so happy about the transaction fee deducted while trading with Bitcoin. Its higher than its competition and people have started to feel the cut made on there transactions.
So, finally as people are loosing due to the sudden rise of Bitcoin, higher transaction fee and better looking alternatives who knows we might have a new Crytocurrency king... :)
@gonewiththewind