Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.
I will suggest that you are more careful when you invest in ethereum, it is undeniable that at the time ethereum is growing faster than bitcoin however we must remember that most institutional investors do not really care about it because ethereum is never going to be a store of value, which means that most people are just speculating with the coin and when the price is based on nothing but speculation then when the price finally begins to go down it is going to do it at an impressive speed.