{"id":133916,"date":"2018-09-18T11:38:28","date_gmt":"2018-09-18T15:38:28","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133916"},"modified":"2018-09-18T07:10:52","modified_gmt":"2018-09-18T11:10:52","slug":"bitcoin-will-lose-50-of-its-market-share-to-ethereum-in-five-years","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/bitcoin-will-lose-50-of-its-market-share-to-ethereum-in-five-years\/","title":{"rendered":"Bitcoin will lose 50% of its market share to Ethereum in five years"},"content":{"rendered":"
September 18, 2018<\/div>
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By George Prior<\/strong><\/em><\/p>\n

Bitcoin will lose 50 per cent of its cryptocurrency market share to Ethereum within five years, states an influential tech expert and business analyst.<\/p>\n

The comments from Ian Mcloed, from Thomas Crown Art, the world\u2019s leading art-tech agency that he established with renowned art dealer, Stephen Howes, comes as Ethereum, the world\u2019s second-largest cryptocurrency by market cap, began a price recovery on Friday after being hit hard with a major sell-off in recent weeks.<\/p>\n

Bitcoin \u2013 the biggest digital currency \u2013 had also been in decline, but it bounced back quicker than its nearest competitor.<\/p>\n

Indeed, Ethereum had crashed 85 per cent overall this year.<\/p>\n

However, Ethereum is regained ground late last week, jumping almost 14 per cent after its most recent plunge, only find itself trading again 10 per cent lower once more in the past 24 hours.<\/p>

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What is happening? And what does the future hold for Ethereum?<\/p>\n

Mr Mcloed observes: \u201cTurbulence is a regular, and sometimes welcome, feature of the crypto sector.\u00a0 Therefore, the Ethereum rebound was, and is, inevitable.<\/p>\n

\u201cBut not only do we think it will rebound considerably before the end of 2018, I believe that over the longer time it will significantly dent Bitcoin\u2019s dominance.<\/p>\n

\u201cIn fact, I think we can expect Bitcoin to lose 50 per cent of its cryptocurrency market share to Ethereum, its nearest rival, within five years.\u201d<\/p>\n

Why is he so confident?<\/p>\n

\u201cSimply, Ethereum offers more uses and solutions than Bitcoin, and it\u2019s backed with superior blockchain technology,\u201d says Mr Mcloed.<\/p>\n

\u201cThis is why we use Ethereum\u2019s blockchain in our art business.\u00a0 It has allowed us to create a system to use artworks as a literal store of value; it becomes a cryptocurrency wallet.<\/p>\n

\u201cIt also solves authenticity and provenance issues \u2013 essential in the world of art.\u00a0 All our works of art are logged on the Ethereum\u2019s blockchain with a unique \u2018smART\u2019 contract.\u201d<\/p>\n

Last month, Stephen Howes explained: \u201cUsing this cutting-edge technology, the art world can eradicate one of its biggest and most expensive problems \u2013 forgery \u2013 and can protect artists, galleries, and private owners and collectors.\u201d<\/p>\n

Ian Mcloed concludes: \u201cWhilst there will continue to be peaks and troughs in the wider cryptocurrency market, due to its inherent strong core values, Ethereum will steadily increase in value in the next few years and beyond.<\/p>\n

\u201cUnless Bitcoin does more now to tackle scalability issues, and improves the technology it runs on, we cannot see how it can catch up with Ethereum over the next five years or so, when the crypto market will be even more mainstream.<\/p>\n

\u201cEthereum is already light years ahead of Bitcoin in everything but price \u2013 and this gap will become increasingly apparent as more and more investors jump into crypto. \u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Bitcoin will lose 50 per cent of its cryptocurrency market share to Ethereum within five years, states an influential tech expert and business analyst. The comments from Ian Mcloed, from Thomas Crown Art, the world\u2019s leading art-tech agency that he established with renowned art dealer, Stephen Howes, comes as Ethereum, the world\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-133916","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=133916"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133916\/revisions"}],"predecessor-version":[{"id":133917,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133916\/revisions\/133917"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}