Arianna Simpson, CEO of Autonomous Partners Investment Fund, is confident that abandoning alternative digital currencies in favor of bitcoin is not a good idea.
“It seems that the mood of the cryptocurrency community is directed towards bitcoin-maximalism. This is reflected primarily in the indicator of dominance. Bitcoin is by far superior to most other cryptocurrencies since the beginning of this year. However, I’m sure that such a mood cannot last forever and that storing bitcoin is the right step, ”she said.
This year, Bitcoin really turned out to be the most promising in terms of growth, losing only to assets such as LINK, BNB, REN and HT. All other digital currencies represented on CoinMarketCap showed an increase in dollars, but at the same time decreased in relation to bitcoin. ETH and XRP, for example, are even trading 80% below their historical highs. Analysts compare the current market position with the collapse of the dotcom bubble in the early 2000s, but Simpson takes a different position:
“Those who have been following the cryptocurrency industry for many years remember that this fluctuation is not the first time. In 2017, bitcoin suddenly became “obsolete” amid new first-level technologies that wanted to take over the world. In fact, many consider the purchase of ETH rather than BTC to be their best investment, even taking into account the correction last year. Undoubtedly, Bitcoin is still the main and first, but you should not forget about other assets. ”
Earlier, Placeholder VC partner Chris Burniske stated that the current position of the broadcast is very similar to the position of bitcoin in 2015. Thus, in the next two years, ether can repeat the growth of the leading cryptocurrency.