{"id":391894,"date":"2019-08-01T13:00:40","date_gmt":"2019-08-01T13:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=391894"},"modified":"2024-06-11T11:59:28","modified_gmt":"2024-06-11T11:59:28","slug":"ethereum-market-bias-can-breakup-with-bitcoin-burniske","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-market-bias-can-breakup-with-bitcoin-burniske\/","title":{"rendered":"Ethereum Market Bias Can Breakup with Bitcoin: Burniske"},"content":{"rendered":"
Investors in the cryptocurrency market consider bitcoin as a benchmark. The world’s leading decentralized asset by market capitalization visibly determines the state of the overall crypto economy. Its price movement prompts other 1,599 active assets \u2013 called alternative cryptocurrencies (or altcoins) \u2013 to pursue in the same or an extremely opposite direction, showing extreme dependability.<\/p>\n
But according to Chris Burniske, who is partners with New York-based venture capitalist firm Placeholder, one cryptocurrency could divorce the bitcoin’s influence in a longer run.<\/p>\n
“Ethereum,” Burniske said, “is currently the only asset with an independent and large enough community to break off from Bitcoin\u00a0<\/span>setting the pace.<\/span>“<\/p><\/blockquote>\n
He added that the change would not come overnight. Recognizing that bitcoin will remain a unit of analysis and liquidity provider in the space, Burniske said altcoins like Ethereum would detach depending upon their integration into broader, global macro adoption and economics of use at scale.<\/p>\n
“As of now ETH\/BTC continues to play a lead role,” he recognized.<\/p>\n
\n1\/ Other cryptoassets go up and down relative to #bitcoin<\/a>\u2014 but if $BTC<\/a> doesn\u2019t go up in USD terms, nothing does (for the foreseeable future).<\/p>\n
— Chris Burniske (@cburniske) July 30, 2019<\/a><\/p><\/blockquote>\n