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

[Grant]

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.

 

[Dubai]

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.

 

[Pousinha]

In my opinion, the cryptocurrencies quite competing with bitcoin yet exist, in spite of not counting on the same big value. Ethereum, litecoin, bitcoin cash and maybe dash too (the principal and most ancient cryptocurrencies after bitcoin), may compete. These 4 are too required and easier to reach an entire currency, especially litecoin, bitcoin cash and dash. They are accepted by whatever international exchange (local exchanges in my country accept all the mentioned, but sometimes they don't accept dash) and the majority of multiple currencies non-custodial wallets.

 

[Eodine]

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

 

[alberello75]

In my opinion, the answer is NO. I don't think a coin that comes out "today" could immediately override one like Bitcoin, which was created with a certain criterion 12 years earlier and a multitude of investors below.

 

[Kunkun]

I doubt that, a new crypto coin can't just emerge and proceed to rivalling Bitcoin just like that, Bitcoin isn't where it is now by chance it's years in the making and there are due steps too for a new coin

 

[BrolySSJ]

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.

I don't think that this will ever be the case, because the new crypto will need some time in order to become established in the market and to be able to get well known and increase its trading volume. It may take some time, but i think a new crypto can become the rival of bitcoin.

 

[Good-Person]

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.

 

[eLdavis]

On the long run, its very possible for a new coin to come up and compete with bitcoin. But i dont think it would be possible for a new coin to come out instantly and complete

 

[GIFTMICHAEL]

That coin needs to spend years after years to promote itself to attract much bigger whales to usurp Bitcoin as the main coin, and Elon musk would be the general overseer of such coin.

 

[Niftyyem]

Right away? It is impossible. Bitcoin has a lot going and it is the bedrock of the crypto markets that is why you see that a large percentage of the other coins will always move in the direction btc moves.

 

[Senator]

All coins besides the Bitcoin are all termed as altecoins. No coin can come out anytime soon or later to compete with the position and status that the bitcoin has attained

 

[cowantussie]

If you haven’t yet taken notice, Bitcoin has made an incredible recovery recently. As of February 2021, Bitcoin is rapidly surging and has reached a new record high of $55,000 USD per coin.

In 2017, Bitcoin and other cryptocurrencies increased in popularity as the public took interest. Bitcoin crashed, however, from its December 2017 high of $18,640 all the way down to $3,360 in December 2018. It’s been trending upwards ever since, and 2020 has suggested its peak is still to come.

If you’re here, then you’re looking to invest in the next big cryptocurrency. Here is our list of the ones to look out for.

 

[Mostee501]

There's nothing impossible but it will be very difficult for a newly introduced crypto coin to match up bitcoin immediately because it takes time for new crypto coins to be accepted by large numbers of people.

 

[GIFTMICHAEL]

BTC have been created long time ago, it won't be posdie to see a newly crested coin, matching its overall value any time soon, Bitcoin was crested to be the number one in the coin market forever.

 

[Richard92]

BTC have been created long time ago, it won't be posdie to see a newly crested coin, matching its overall value any time soon, Bitcoin was crested to be the number one in the coin market forever.

I'm not sure that a new crytocurrency will come out and compete it with Bitcoin eventually the only cryptocurrency that will be able to rival with bitcoin is ethereum

 

[AlexandruCrudu]

It's very hard and it's need a lot of big investors and promotions and even to be used at a global level. Many of them have big transaction fees, hight volatility, so it's risky for investors to buy

 

[GIFTMICHAEL]

I'm not sure that a new crytocurrency will come out and compete it with Bitcoin eventually the only cryptocurrency that will be able to rival with bitcoin is ethereum

Ethereum isn't nowhere near Bitcoin when it comes to achievement, i don't see it rivalling Bitcoin in any way. At this time, no coin is capable of meeting Bitcoin value.

 

[Nomad]

When a lot of crypto currencies that have been existence since many years have not been able to compete with bitcoin, how do you expect a new currency to topple bitcoin.

 

[Kelly5]

It will not be possible for the moment and it might not even be possible in the near future for that to happen because Bitcoin has already established it's base as the major coin in the market