Can a new crypto come out and compete with Bitcoin right away?

[Dowenship]

Honestly, it will be extremely difficult for a new crypto currency to come out and immediately compete with bitcoin. I do not see it happening anytime soon.

Investors, traders, analysts and other journalist have once predicted that ethereum will compete and will take over crypto in the nearest future... but today bitcoin is still controlling it....

 

[jeff87]

Would it be possible if someone made a new currency, and it matched up to Bitcoin right away? I think it would be fantastic to find a new currency that can compete with bitcoin, because so far, I don't think anything else comes even close. At least not yet.

It would be fantastic if there is a coin that can replace Bitcoin. Let us take for example dogecoin, Elon musk is pushing this coin for the price to reach to the moon. But until today it has not even reached one dollar.

 

[Kelly5]

I don't think so for the moment. Even Ina very long time to come. All cryptocurrencies that is not Bitcoin are called altecoin. This is because Bitcoin has established itself as the major coin

 

[mcjerry]

No new crypto currency OR an existing one can ever compete with bitcoin. They can only compete in the price but not in value. Because bitcoin has been in existence for long and it is the first coin. Likewise mist people will say don't you know the coin like bitcoin, instead of saying that the coin is a crypto currency

 

[jeff87]

Honestly, it will be extremely difficult for a new crypto currency to come out and immediately compete with bitcoin. I do not see it happening anytime soon.

The same here is my answer. I also believe that it's extremely very difficult for a new currency to come out immediately and surpass Bitcoin.

I believe that traders are so busy already in buying and selling of Bitcoin that they don't have time anymore to new coin.

 

[joy101]

I don't think it will be possible for any new cryptocurrency to compete with bitcoin because before bitcoin was created it take it so long, likewise the new coin too.

 

[jeff87]

It's is very unlikely for a new coin in the crypto market to just rise up and compete with Bitcoin because of the number of years and investors and even the market price

You are right that new coins can easily or immediately compete with Bitcoin. Even Elon Musk who is pushing for dogecoin to surpass Bitcoin has find it hard to do it even with a lot of Twitter messages still Bitcoin is number one cryptocurrency.

 

[Kelly5]

No new cryptocurrency can come out now to compete for the position of the Bitcoin. The new cryptocurrency will still remain in it's position as an altecoin even though it gets more expensive than the Bitcoin

 

[greenie]

I do not think that it is possible for any other crypto to come out and compete with Bitcoin right away because Bitcoin is already dominating the crypto world. Having said that, almost all the cryptos are competing with each other in some way.

 

[Dagm1]

I doubt it; a new crypto coin can't just pop out and start competing with Bitcoin; Bitcoin didn't get to where it is now by accident; it's been years in the making, and a new coin must go through the same process.

 

[Sotherefore]

So many cryptocurrency are trying to compete with BTC , but I don't see the need for this because this won't be successful. Bitcoins has grown beyond a point that can be over taken by another coin soon or later.

 

[tyrim88]

As long as cryptocurrencies are concerned, I don't think any altcoin can come out now and compete with bitcoin because bitcoin has gone a long way in terms of value appreciation

That is just basically the whole truth about the issue about cryptocurency,because it will be very difficult for any coin to come out and compete with bitcoin,because of the acceptability,capitalisation and other factors.

 

[Danny4cash]

I don't think that can be possible. Bitcoin is well accepted and it's already established as the biggest, popular and most valuable cryptocurrency. For a new crypto to come today and challenge bitcoin, I don't see any possibility in that. However, nothing is impossible.