The reason the price of Bitcoin has stalled and crypto to dethrone BTC Shane Molidor

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There is one crypto that can dethrone Bitcoin in market capitalization, and that is Ethereum, said Shane Molidor, global head of business development for AscendEX.

Speaking to Kitco News presenter David Lin, Molidor said that I don’t think the emergence of stablecoins will necessarily dethrone Bitcoin. However, we are seeing a lot of other crypto assets that could also function as a store of value and then have compelling utility.

Molidor added that Bitcoin started its life cycle as a peer-to-peer electronic payment mechanism, and arguably failed in this use case. However, the functions of Bitcoin: immutability, scarcity, durability, etc. exist with other cryptocurrencies, which also have compelling core values, like Ethereum, which is why I think there are experts who would say the turnaround will happen, where Ethereum’s market cap exceeds that of Bitcoin.

For Molidors’ year-end Bitcoin price prediction, watch the video above. Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV).

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to trade in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.

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