Ethereum (ETH) and Bitcoin Cash could soon replace Bitcoin (BTC) due to their superior technology and higher levels of adaptations. Roger Ver – who has been known as “Bitcoin Jesus” (and now is known as Bitcoin Judas) for his commitment to Bitcoin since the early years, believes that Bitcoin could lose its dominant position in the field of crypto currency.
He says that crypto currencies such as Ethereum and Bitcoin Cash (BCH) have superior technologies and are in a good position to make substantial profits in the coming weeks.
Ethereum is currently trading around 700 USD with a market capitalization of 69 billion USD. The price and market capitalization are significantly below Bitcoin’s price of USD 9,000 and the market capitalization of over USD 149 billion. Bitcoin Cash ranks fourth in the crypto currency ranking with a price of $1,500 and a market capitalization of $24 billion.
How will ETH and BCH surpass BTC
Although the price of Ethereum and Bitcoin Cash rose faster than Bitcoin last month, both coins are still well behind Bitcoin.
Roger Ver says Ethereum and Bitcoin Cash will make huge profits in the coming days compared to Bitcoin’s modest profits. This will allow ETH and BTC to overshadow BTC.
He said: “I see it happening, and I believe it’s imminent,” Mr. Ver told The Independent. “Ethereum could overtake bitcoin by the end of the year, and bitcoin cash could do the same before 2020.”
The Bitcoin Judas, as he is now more popular in bitcoin circles, continues to claim that Bitcoin blockchain technology is slower and more expensive than other newer technologies. Since the launch of Bitcoin in 2009, the crypto currency market has accumulated more than 1,500 digital coins and every crypto currency technology has tried to overcome Bitcoin’s shortcomings.
Bitcoin price falls below $9,000
He further claims that the utility of Bitcoin Cash would make it possible to stand at around USD 100,000 in the future. He added: “It’s not guaranteed, but it is much more likely to happen than not. Bitcoin cash has more than doubled in value in the last month, and big investors are coming in soon could see it double again by next week. People love to chase a rising star.”