The Alts are Evolving

It used to be Bitcoin far above all the alts into the crypto market. Bitcoin was and remains the dominant entity in the crypto space, and is often the reference point for whatever happens in the space.

This is particularly evident during market swings. The price of Bitcoin more or less determines where all other alts go. A heavy dip for bitcoin means curtains for most of the alts and vice versa. It is still this way for the most parts, but something significant has changed.

From my observation, the level of reaction to the movement of Bitcoin by alts has experienced quite the modification. The volume of declines we usually experienced when Bitcoin takes a hit has reduced significantly against many of the major coins. Wholistically, it won't be absurd to conclude that the space is fast becoming diverse, with Bitcoin still king.

The alts catching up shouldn't be too much of a surprise especially with the developments taking place. It isn't just that the major BTC institutional investors are looking towards alts, but it appears we are getting a lot of new attention from those who are new to the space and do not even own any Bitcoin. It is a testament to the growth of the space and the alts are getting their various opportunities in the limelight.

Would BTC be dethroned though? The experts certainly think not and neither do I. Bitcoin is still your best bet in the crypto space I guess but the barriers for entry make it quite the exclusive investment. Not many can afford to buy BTC and there isn't so much a utility to it other than holding it as an asset.

This is where the alts are winning. They're winning the innovation war and drawing attention to themselves. Hive is a prime example. Anybody can get in relatively easily and boom, you're the proud owner of a some Hive in a few days (if you don't buy in). What's more when you are here on the Hive platform it certainly feels a lot more than merely holding an asset. The utility comes from participating as opportunities literally present themselves all the time.

If the alts keep up with the innovation then no doubt the future of crypto is very bright. People will move to BTC for safety and move toward the alts for a worthwhile investment. It's the alts that'll attract more people to the space, not Bitcoin. This is why you're selling yourself short should you give up on Hive already.

Posted Using LeoFinance ^Beta