Jefe

Why an Unlikely Fall to $8k Could be the End of BTC (Analysis)

BITSTAMP:BTCUSD   Bitcoin
Most of us are optimists in the cryptoworld but few of us call the shots here. The rest of us just ride the waves. Bitcoin has been the top cryptocurrency for a long time and no currency has come even close to it in terms of market cap. Usually the currency on second spot (which used to be Ethereum) would be half BTC's market cap at most times. Currently XRP (Ripple) is the second largest cryptocurrency with $74 billion market cap whereas Ethereum has a market cap of $69 and is at third place. BTC on the other hand has a market cap of $222 billion and is at the first place. Now, consider this scenario. Let's say BTC drops to $8k from current levels, its market cap will be cut in almost half. Let's call that an even $100 Billion. Now imagine 10, 20 percent of the investors pulling their money out of BTC and investing in XRP, given the recent inverse relationship. When Bitcoin drops to $100 billion in market cap, XRP (Ripple) which is now at $74 billion in market cap could easily be worth close to $100 billion. With a little more pumping, as we have seen in the past few days, it can easily exceed that $100 billion to become the #1 Crytocurrency and that would change everything forever. The media will be all over it. The crypto space will have a new king. Exchanges will start offering XRP/USD pairs. It will change the whole game. BTC pairs will be replaced with XRP. It will be the end of Bitcoin. With a company like Ripple leading the show, there will be mass manipulation and the whole game will change forever. All this talk of decentralized economies and DAOs will turn to sh*t. The whole market will take dictation from XRP. Now, I'm sure there are a lot of competent investors in the cryptospace with deep pockets. The real question is whether they are going to sit back and let this happen or are they going to do something about it to prevent that. I leave you with that thought. :)
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