The recovery of the cryptocurrency market will have reminded everyone that bitcoin remains the undisputed leader of this ecosystem. What was not new in itself, however, has made many people react at a time when the value of cryptocurrency continues to grow. On closer inspection, it becomes clear that the divide between parent cryptocurrency and altcoins is widening despite the advent of interesting projects. A situation that leads some analysts to wonder about the need for bitcoin to decouple from the rest of the cryptocurrency market.
Who says crypto speaks above all and especially of Bitcoin!
If the blockchain is undoubtedly the common denominator of the various cryptocurrencies existing to date, bitcoin stands out from the crowd. His worth and the advantage of being the active behind this revolution is only part of the real reason for this difference. After ten years, bitcoin has gone from being a digital asset to being a global asset ending up being regularly compared to gold. The recognition and gradual adoption enjoyed by cryptocurrencies today is above all those of bitcoin and not another. It continues despite all the evolutions to be the barometer of the cryptocurrency market as The indicator is the dominance of bitcoin.
The fact that this measure still serves to appreciate the limit of the bitcoin market compared to altcoins despite the plethora of existing assets is proof of the world that separates the two sets. The other important factor to clarify is nothing other than public interest in cryptocurrencies. When it comes time to discuss the entry into play of institutional investors in the cryptocurrency market, bitcoin remains the common point of the choices made. The latest example of the special interest enjoyed by the mother of cryptocurrencies is none other than the emergence of giant PayPal. It is therefore no exaggeration to claim that cryptocurrency identifies with bitcoin in the minds of the majority.
A full-fledged asset class
This is exactly what bitcoin seems to have become to any seasoned observer of the cryptocurrency market. There is now no doubt thathe has already surpassed his status as an ambassador of the cryptocurrency class and aspires to be something bigger. Such an ambition can therefore only be achieved if bitcoin was decoupled from all altcoins. The situation could also benefit them, provided they manage to meet the challenge of homogeneity. This will prove that they can also behave as a whole see an asset class that would be of more interest to investors.
Despite the existence of such a big gap between bitcoin and altcoins, it’s hard to imagine that either side could go it alone and still continue to thrive. Supporters of such a scenario would find it difficult to predict the consequences of this split on the cryptocurrency market.