In the past two weeks, Bitcoin prices have been steadily declining, while smaller virtual currencies such as Ripple, Stellar and Tron have risen sharply in price and capitalization.
Erik Voorhees, CEO of ShapeShift Digital Asset Management, said Bitcoin dominated the deal on the floor a year ago but now more than half are trading in other currencies.
Still, some analysts say Bitcoin will continue to benefit from investors' growing interest in alternative (Altcoin) alternatives. They point out that because it is the largest virtual currency, Bitcoin is often chosen by investors when entering the market.
For me it is very hard to replicate what bitcoin has done for the past many years that it has stayed on top and for someone or something to overtake it. It would really need a lot of factors that needs to work on their favor just for them to take into account everything to push bitcoin at the top of the standings. Of course they need to reach that value first and that is hard for some already