When it passed a market cap of $1.5 billion, both in March and in May, Ethereum became the highest valued non-bitcoin cryptocurrency ever.
The enigmatic project is no doubt the altcoin that has the most Bitcoin enthusiasts confused—or even rattled. People are wondering whether Ethereum could be Bitcoin 2.0, like Facebook versus Myspace, or VHS to Bitcoin’s Betamax.
Others have stated that Ethereum is carving out its own space entirely, calling it the oil to Bitcoin’s gold.
I don’t share either opinion. In my view, Ethereum is in direct competition with Bitcoin, and going forward it’ll most likely lose market share against it.