Will Bitcoin be the last one standing after the dust settles, while altcoins meet their maker?

  • 11 July 2019, Thursday, 14:40
Will Bitcoin be the last one standing after the dust settles, while altcoins meet their maker?
Source: Unsplash

As Bitcoin fails to reconquer its previous highs for the second time in 2019, alt coins are finding a leeway to recuperate from the destruction faced during the interim bull rally of BTC.

Bitcoin was definitely the source to all that we have today, the crypto ecosystem, one of the most volatile markets in the world, with RoI far higher than any other traditional assets known to human. So in a way, Bitcoin is the crypto that started it all, and when everything is said and done, some BTC maximalists believe that it will be the last one standing. Max Keiser, a Bitcoin enthusiast who has been advocating the usefulness and the importance of Bitcoin for a long time, is one among those individuals.

Keiser shares the idea that Bitcoin is the future and will render fiat useless in the future; and also believes that most altcoins, if not all, will perish eventually. Keiser tweeted:

“No alt-coin fulfills the decentralization imperative required to survive long term. Only #Bitcoin does.”

Bitcoin has been on a steady rise for more than 5 months and shows 5 green consecutive candles in the monthly chart, which has caused alts to snap under the pressure like twigs. Most of the altcoins, ETH, XRP, TRX, and others have broken supports that have been holding the prices up for more than a year.

Some prominent people in the community, including Peter Brandt, believe that Bitcoin will remain unaffected in the long term and gain more prominence in the mainstream sectors allowing more adoption; while altcoins will struggle to keep up with an ever-rising price of Bitcoin.

While the sentiment of crypto Twitter and most of the retail is expecting an alt season soon, Keiser and others like him believe that altcoins will face the final curtain making them extinct and allowing a select few coins to exist alongside Bitcoin.