Due to the bear market, Bitcoin is currently dominant in the encryption market at 55.2%. The dominant position of Ethereum is 10.8% of the total market value of cryptocurrency. Despite the fact that the ethereum value is still unstable, many traders believe that digital assets may get worse before they get better. The decline of Ethereum is attributed to the following three factors:
ICO cashed in ETH during the ICO boom from December this year to the end of February this year. In a tweet on September 18th, Weiss Ratings said that ETH will grab 50% of bitcoin market share in five years. Mathematical calculations mean that Ethereum is dominated by Bitcoin in the market and will account for approximately 38%. BTC will be half of its current value, accounting for 27.6% of the total encrypted market capitalization.
The full tweet from Weiss Ratings will continue to explain why this happens:” Bitcoin will lose 50% of cryptocurrency’s market share to ETH in 5 years because it provides more use and is supported by the excellent blockchain technology. We totally agree – unlike BTC, this is A single pony, the application limit of ETH is the sky itself.”
When the value of alt-coins no longer depends on the value of bitcoin, Flippening is defined as a paradigm shift of the cryptographic section. Roger Ver predicted earlier this year that Ethereum will launch bitcoin coin by the end of this year. However, when Bitcoin remained stable, Ethereum had collapsed, which has not been successful.
One of the responses to the above tweets accused Weiss Ratings of being financially motivated to make such a request. Another person thinks that Weiss’s team doesn’t know the technical details behind each platform they talk about.
The tweet will continue to explain:“First, Ethereum has a greater expansion challenge than Bitcoin. High-end devices are now needed to synchronize a complete Geth node. As the DAO crash proves, it is difficult to write a safe and error-free contract for eth coin. Bitcoin is more streamlined and safer.”
From an observer’s point of view, every current news headline has bitcoin that draws the attention of major Wall Street firms through ETFs and ETNs. It can be concluded that the flips specified by the Weiss rating will not occur in the next 5 year. We have Wall Street’s heavyweights, such as Bakkt, Nasdaq and the Chicago Board Options Exchange, and are willing to use Bitcoin as the next best investment option after traditional stocks.
The only way in which rollovers can occur is for Ethereum core developers to fix security vulnerabilities in platform smart contracts and address scalability issues. This will then allow the Ethereum platform to be used to issue registered securities in the blockchain and fund companies via IPO.