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Bitcoin Is Breaking out but other tokens aren’t faring as well, a sign that Bitcoin may be pulling away from the pack.

Bitcoin Is Breaking out but other tokens aren’t faring as well, a sign that Bitcoin may be pulling away from the pack.



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4 Comments

  1. Andreas Antonopoulos has a great talk about why Bitcoin is uniquely advantaged in the cryptocurrency space.

    He compared it to how in biology, if you introduce an invasive species into an ecosystem where it can thrive, it will reproduce and box out other species.

    Even if you try to introduce a new species that is more efficient / faster / smarter, it can’t overtake the first one because the ecosystem has changed.

    Likewise, you can try to build a better Bitcoin that is marginally better in every way, but the cryptocurrency space has already changed.

  2. tldr; Bitcoin is breaking out from other cryptocurrencies, gaining 8%, to $54,345, on Wednesday. Bitcoin pushed its market value above $1 trillion again. Other tokens aren’t faring as well, though, a sign Bitcoin may be breaking away from the pack.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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