Reason behind why Bitcoin is most dominant among all Cryptocurrencies.

Hello Digital traders,

What do you think about my topic? What are the reasons? To me, some are including,

  • Bitcoin is the first cryptocurrency in the world.
  • Attractive market value.
  • Not a static cryptocurrency.
  • More exchange capabilities than other cryptocurrencies.
  • Bitcoin has a very good level of trust worldwide.
  • Bitcoin has safe investment power.

Please enlighten me with all your knowledge here. Thanks in advance!

On another level, it was one of the coins that was worst hit by the miss harps that were happening in the crypto market during the Q1, 2018.

Bitcoin is the most known, developed and useful cryptocurrency out there. Many countries, developers and companies are working to be the next big thing. It will always be the king.

Talking about dominance. Bitcoin currently dominates, weighing at 33% of the total crypto market cap. That is huge! But it has been much higher in the past. Will this return?

It will always have the longest blockchain. Unless someone manages to develop a time machine - maybe using quantum computing. But when quantum succeeds then frankly all bets are off, related to crypto 🙂

Yes, as long as exchanges continue to list it as the trading pair for cryptocurrencies.

There is also massive media hype around Bitcoin, with some of the biggest investment companies and millionaires starting to invest in it.

Short to medium term, yes, Bitcoin will remain king.

@mk-hasan said in Reason behind why Bitcoin is most dominant among all Cryptocurrencies.:

Bitcoin will remain king.

The government actions and media coverage is more focused on Bitcoin, despite the fact that its market dominance has come down to around 37%. The other cryptos such as Ethereum and Litecoin remains mostly invisible to those outside the crypto-currency sector.

@sarahmullen said in Reason behind why Bitcoin is most dominant among all Cryptocurrencies.:

The government actions and media coverage is more focused on Bitcoin,

"There are several reasons for the bitcoin being dominant among all the cryptocurrencies. The first reason is the lowest fee for international transactions. The banks charge very high for such international transactions, bitcoin offers them at a very low fee.
Another important reason is the network effect. People want to trade on the crypto currency on which maximum people are trading. Moreover, whenever a new change is proposed it is supported by 90 percent of the bitcoin miners. Due to a large number of supporters it gets implemented.
Also, there are no intellectual property rights in the crypto currency. No copyrights and no patents. Any improvements made by other crypto currencies are also introduced by the bitcoin. Therefore, users don’t find any reason to shift to other options.
"