Roger Ver, world’s first Investor in Bitcoin startups including Bitcoin.com, Blockchain.com, Zcash ,BitPay, Kraken, Purse.io & is a well-known personality in the world of cryptocurrency. This early Bitcoin investor has reaped humungous profits because of his timely decisions. He also remains to be an avid supporter of the Bitcoin Cash venture. The hard fork of Bitcoin has brought about a paradigm change in cryptocurrency market where diversification serves as the ultimate key.
Roger does not feel that Bitcoin will retain its “top dog” position for much longer. He mentioned the probability of Ethereum overtaking Bitcoin in an interview on a Youtube Podcast. Taking into consideration the recent price hike of Ethereum’s native token Ether, it is evident that things will just get better with passing time. A bevy of innovations has also been taking place in the cryptocurrency sector aiding both Bitcoin and Ether in preparing for the upcoming duel.
Roger Ver feels that Ethereum will very soon overtake Bitcoin to become the number one cryptocurrency as per market capitalistion. It just needs to double in price one more time for reaching its ultimate goal provided Bitcoin does not showcase any such positive price movements. Both these cryptocurrencies have been getting ready for an interesting duel which abides by a large number of determining metrics such as market cap for taking the ultimate decision.
Ethereum has showcased its superiority over Bitcoin in a number of aspects ranging from faster confirmation time to increased affordability parameter. Its throughput has also zoomed past Bitcoin in a number of past occasions. But all these things are expected to change once the SegWit adoption takes place coupled with the Lightning network launch in the coming months. Ethereum shall maintain its lead until this actually becomes a hard-hitting reality.
Roger Ver also seems to be in awe of Ethereum’s developers. He feels that the cryptocurrency market shall soon get extremely competitive once people start realising the actual scenario. Ethereum’s switch from Proof-of-Work (POW) to Proof-of-Stake (POS) mechanism can bring upon significant improvement to the entire network adding to its overflowing kitty of brownie points.
If the assessment made by Roger Ver proves out to be correct, then either the price of Bitcoin will plummet or that of Ethereum will sky-rocket. Taking into consideration the present market scenario, the first option does not seem very realistic since the price of Bitcoin has gained rapid momentum off late. Alternatively, Ethereum has been suffering from sideways momentum for quite some weeks now. Thus, it will be interesting to see how the drama unfolds in days to come since in the crypto world, the word impossible simply does not exist.
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Tarunima Ghosh Laha is a Finance Post Grad from St. Xaviers who believes Finance is more than just Balance Sheets and Ledger creation. This filmy bookworm who believes she was a sloth in past life also nourishes a penchant of owning a private zoo someday. Equipped with a laptop and online Lexicon she is all set to give finance a glamorous makeover in the form of exciting writeups with bang on info and flashy new words.
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