The price of Bitcoin has certainly reached more than 1200 Euros this year, however the repeated failures it has in being recognized by governments has decreased its credibility.
The emergence of new cryptocurrencies backed up by some companies in the Silicon Valley and large banking groups will set the trend for a new wave in the trading of cryptocurrencies. It has been backed up by more than 30 companies like Intel, Microsoft, J.P. Morgan and Accenture and they are all creating a private version of the Ethereum blockchain.
"The thought of the question comes from the fact that the technologies are the one driving the market not the coin itself."
For example, Ripple has been backed by Google Ventures and SWIFT because of the technology behind it.
Will Ethereum overtake bitcoin in 2017 in terms of acceptability?
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Somehow I doubt it.
User adoption rate has doubled in the last year and there are a limited number that can be issued. Transaction volume has gone up nearly 3 times in 2 years
https://blockchain.info/charts/n-transactions?daysAverageString=7×pan=2years
That does not mean that there is not chance for other cryptocurrencies to prosper. There is a long way to go to absorb what the world's fiat currencies do
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Excellent answer! :-)
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Hi Carrinm,
In 2008, Bitcoin was the only one popular in the market. With the new cryptocoins, there are other technologies that guarantee more anonymity and more options. I don't want it to die either :)
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