Whatever the cynics would call Bitcoin, his crazy rally still discourages hooligans and enriches faithful crypto-fans. The fear that he is missing an opportunity to get rich can have a powerful and dangerous impact on our financial decisions. The fear that we missed something now plays a big role in what is happening on the cryptocurrency market, because many of those who missed the craze for digital currencies feverishly look for another Bitcoin or something even better.
But does such a successor exist and is it worth investing in it?
While Bitcoin is still highly valued and optimistic about what the BTC is waiting for, it's not going down, George Tung, co-founder of Cryptos R Us and a veteran investing in cryptocurrencies, says there are still many opportunities to make money on weaker coins. "Will we see another coin with market capitalization above BTC?" - he said. "Yes, I think it is definitely possible in the next three to five years."
Hitesh Malviya, a cryptographic consultant with ItsBlockchain.com, says that the Bitcoin market is a place where there will be such bull market as currently observed, but in the long run large gains in cryptocurrencies are somewhere else. "The Alts industry is new and it will be several years before it becomes the mainstream," he said, adding: "we can see 10 and more folds in profits, on many altcoins".
But with more than 1,300 alternative cryptocurrencies to choose from, it's not an easy task to discover potential 'winners'. George Tung uses a 'four-part sifter' to determine which altcoins may be worth attention.