After a couple of torturous months, cryptocurrency markets have staged a big and broad comeback recently. Bitcoin trades above the $9000-mark, up 11.48% over the last seven days, Ethereum trades above $650, up 16.47% over the same period, while Ripple at $0.84, up 5.96%.
The cryptocurrency comeback is accompanied by swelling volume and extends across the entire market spectrum.
What will it take for Ethereum and Ripple to beat Bitcoin both in market cap and volume?
Darren Marble, CEO of CrowdFundX agrees. And that’s why he doesn’t think Ethereum and Ripple have a chance to beat Bitcoin. “I don’t think Ethereum or Ripple will ever beat Bitcoin,” says Marble.
Why? “First, Bitcoin is a power brand. The majority of mainstream news stories are about Bitcoin, not Ripple. Bitcoin owns the brand equity in the market, and this cannot be underestimated.”
Robert Masters, Managing Director of Blue Chip Vision, sees this scenario as a long shot, provided that future protocol enhancements are implemented. “It may be possible for either Ripple or Ethereum to beat the market cap of Bitcoin in the long term if future protocol enhancements are implemented and with the continued backing of global financial heavyweights.”
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