A year ago I would have not believed this!

The fight for the top is seeming to be a race speeding up like nitro within the combustion chamber of cryptocurrency as of late. Bitcoin with all its long hold to the #1 spot on coinmarketcap seems to be in threat by the Ethereum rally happening more and more over the last few weeks. If you told me this was to be a thing of reality a year back I might have called you nuts but right here and now I am about to suck it up and proclaim to Bitcoin this, you need to get your arse in gear here or accept your growing fate.

The Volumes at Present

Before we get into the logistics of why this is happening, what is happening, and who the hell is letting this happen...I want to let it sink in first where the current coin market caps are at for these two top dogs of the cryptocurrency movement:

IN THIS CORNER: BITCOIN (BTC)

MARKETCAP: $44,984,735,351

IN THAT CORNER: ETHEREUM (ETH)

MARKETCAP: $35,941,515,067

As you can see there is still a slight gap between the two coins but there is a huge movement under ETH and it seems every day that gap is closing. But why? And could it really happen? Bitcoin becoming #2? I am about to explore those very factors, and keep in mind I am not personally too impressed with ETH myself. I am not a Bitcoin purist either, the transaction fees burn me every day so I try to remain neutral on this situation.

Why don't I care for ETH? I have only one firm reason, I am in crypto for the huge movement to get rid of the Central Banking tragedies bestowed on the US citizens and its tentacles that out reach to the world. With that in mind my loyal reader, if you research the beginnings of the Federal Reserve and know the hands that J.P. Morgan and his pals manipulated our democracy to line their pockets then you will harbor a watchful eye on that entity. ETH has a side interest from J.P. Morgan lately, they are even creating their own side chain called Quorum within that crypto. I have an edgy feeling about ETH and J.P. Morgan being bad for the movement, just a personal vibe I am getting for the cause.

With that out of the way, I had to express that side belief. I will now try to be an open minded journalist as we kick into the factors of this topic of BITCOIN VS ETHEREUM FOR DOMINANCE

Proof is in the Pudding and What is a Flippening?

Before we go any further let me define what a crypto flippening is. A flippening is coined by market observers who have hypothesized that one of the lesser Altcoins in the market could very well grow and exceed the Bitcoin market cap. This comes with factors of technological improvements that Bitcoin may or may not have. Investors also play a huge part in a possible flippening scenario if they gravitate to something else and hold value within that altcoin for usage or holding pride that their coin will exceed or match the Bitcoin highs one day. So many other factors go into play but the basic breakdown is the fact that the world decides to back something other than Bitcoin as a store of value for reasons they hold true as individuals.

So what are the signs we are seeing a possible flippening between ETH and Bitcoin at the moment?

At the beginning of 2017, Bitcoin accounted for 80% of the total cryptocurrency market share. This means Bitcoin was not only top dog but also leaving only 20% of holders residing in the Altcoin market below its reign. We flash forward to the here and now, an increasing growth has surged for Altcoins and we are beginning to near a close tightening of a 50/50% split between Bitcoin and the whole of the Altcoin markets. With top dogs like ETH, Monero, Ripple, ect on the rise, it appears Bitcoin is letting the little guys spread upwards to meet in the middle of shared caps.

Here is a chart showing the most recent view of Bitcoin and the Altcoin 50/50% meetup

Who is leading the Altcoin charge? ETHEREUM IS!!! And here is possible reasons

If you have absorbed that chart above and really looked into it, you can see a Bitcoin marketcap fall happening. Now the prices for Bitcoin are yes at an all time high but it appears a lot of spreading of volume is happening for altcoins the more that 2017 progresses and my friends its looking like ETH is leading the pack.

ETH has generated a lot of buzz due to the storm of ICO's being created within it and the drive forward with more mainstream corporate and banking backing of its blockchain. With my personal fears aside about the banking side involvement with ETH I do have to admit this coin has uppercutted the hell out of Bitcoin in development and in a speeding bullet kind of momentum inside of itself. Hey when your a powerhouse you just tend to grow and it appears that ETH is such a powerhouse as hard as it is for me to admit this to you guys.

A key reason I sense a flippening of ETH passing Bitcoin at some stage, if not for a moment a possible long period is due to the tokens of ICO's forming so consistently. This ICO rush makes a lot of sense and does do some great moves for the ETH platform. It encourages startups to have a shot at successes and investors in ICO's lock up their holdings which creates a perfect storm of scarcity and long term investors withing the ETH space. Thus this will create value and more bidders in the market towards ETH, which is detrimental to its growing volume as you see in current market charts.

The Bitcoin Flaws

This area breaks my heart to report but it appears to me lately the boys within Bitcoin are so stuck who's Segwit proposal will win that it appears they are not seeing ETH coming in for a knock out here. They are forgetting the little guys as well with this current fix solution for the backlog of transactions and more insane not getting a speedy decision made for the ever increasing transaction fees burning the little guys who use Bitcoin for small purchases.

This is a huge factor I believe why volume is depleting and spreading in other markets. The ongoing cluster fuck (excuse my language but I have to call it the way I see it) is getting to look to outsiders more and more as disorganization and I beg to believe does stir some investor worries at this stage. If you look around, the jokes are hitting BTC hard now a days in meme creation and commentary all over YouTube, so personally I sense if this isn't put in check...BTC may have a sting to feel when they sit at a possible #2 position for a while. Guess momma didn't put them in time out much, here it comes.

Who do I love? Bitcoin...honestly it was Bitcoin that got me here, it was Bitcoin that spawned this movement and created a space for altcoins to flourish in the world. But when power comes to those that hesitate, the little guys always tend to climb over you when your stalling. I think right now that is the ongoing case and I pray for Bitcoin to sit down in one meeting and get a grip fast so we can all go forward together and not have to host a funeral here. I know that sounds dramatic and expressively like I suspect the death of Bitcoin, that I do not expect but it being top dog I am starting to wise up to being not the case soon if they prolong these inner issues.

Remember, I am only speculating on the info out there here..but mark my words here from a guy that doesn't invest in ETH due to principles, I do think we will see them take the lead soon...humbling to say that but I sense I might as well be prepared.

~sflaherty

Follow me @sflaherty