Altcoin Markets Are Going To Separate From Bitcoin Says Ripple CEO Brad Garlinghouse
In the world of cryptocurrency there is never a lack of contradiction. As per Ripple CEO Brad Garlinghouse, Bitcoin will not stay the “gold standard” of cryptocurrencies forever. In lieu of it, he is assured that the altcoins will shorten their own paths and will no longer rely on Bitcoin’s price dynamics.
At least anyone who has focused on the digital money industry for more than three weeks will have seen an amazing trend. No matter how effective or promising some altcoins may be, they will not succeed or grow unless the price of Bitcoins rises. This is a very annoying trend, which, alas, has been holding back the growth of altcoins for some time. It will be difficult to change this trend if even thinking that it is possible.
Amazingly, Ripple CEO Brad Garlinghouse is assured that things will soon change for the benefit of altcoins. Even though he does not reject the interaction between the price of XRP and the value of Bitcoin, he hopes that a kind of change may occur on the horizon. As believed, his declaration met with some disagreements, although a lot of people would accept and commend such changes.
In the period of time when the situation with cryptocurrency is still in its period of formation after nine years, it’s time for the altcoins to come and allocate their own ways. Whether or not any of them will be able to do so in the near future is quite another matter. As speculation remains one of the biggest challenges influencing market development, there will be no fascinating advancement in favor of altcoins in the near future.
Persuant to Garlinghouse, the separation of altcoin markets from Bitcoin will be through “investor rationale “. In his opinion, it is only a matter of time when investors will see the value of separate cryptocurrencies and related technologies. Simultaneously, Garlinghouse hopes that some altcoins will go on riding on the coattails of Bitcoin. Moreover, several cryptocurrencies have entered the market that do not serve a real purpose and do not have active use cases. And they do not, apparently, even such currencies remain extremely attractive for cryptocurrency scams.
Although Garlinghouse comments are rather exciting, it stays to be seen whether any of his predictions will become a reality. Indeed, Bitcoin has prevailed the cryptocurrency industry for quite some time, despite the fact that bitcoin dominance index fell below 40% this year.