The Rise of Altcoins Won't Eclipse Bitcoin Just Yet
Sure different forms of cryptocurrencies may be surging, but you might not want to write-off Bitcoin...at least not yet!
Jake Yocom-Piatt, the project lead at fellow cryptocurrency Decred, told Cheddar that the newly-discovered coins might not be eclipsing Bitcoin anytime soon.
“For all we know Bitcoin may fall, but right now it’s the dominant cryptocurrency and it looks like it’s going to stay that way, at least for the short-term,” he said. “Whether that’s going to remain the case in the longer term it’s hard to say.”
But investors are exploring other options. Tron, which launched last September, has leapt into the top 10 in terms of market cap in just four months. Its most recent surge was helped by founder Justin Sun’s announcement this week that Tron will announce a partnership with a “prestigious public” company next week.
For full interview [click here](https://cheddar.com/videos/will-altcoins-eclipse-bitcoin).
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
