‘Bitcoin Jesus’ says leading cryptocurrency will change this year
Roger Ver, who is often referred to as ‘Bitcoin Jesus’ in the cryptosphere, says Ethereum will take the top spot this year.
Ver predicts that Ethereum will rise from its current position of the second largest crypto, and steal Bitcoin’s place as the number one digital asset.
Mr. Ver’s involvement in the space since 2011 has earned him the moniker “Bitcoin Jesus.”
He believes that Ethereum is technologically superior as a cryptocurrency compared to the oldest digital currency Bitcoin.
Bitcoin spin-off, Bitcoin Cash will also see massive gains in the coming months and years, says Ver.
Modest gains for Bitcoin will likely lead to a significant surge in the altcoin’s values, according to Mr. Ver.
This surge will lead to what analysts have dubbed “The Flippening.”
The Flippening is the point in time when Bitcoin is no longer the cryptocurrency with the highest market capitalization.
Speaking to The Independent, Bitcoin Jesus prophesizes:
“I see it happening, and I believe it’s imminent.
“Ethereum could overtake Bitcoin by the end of the year and Bitcoin Cash could do the same before 2020.”
The #Flippening is nigh 🙂
— Marius Kjærstad (@MKjrstad) May 10, 2018
Mr. Ver cites issues with Bitcoin’s core technology, which has been plagued with slow transaction times and high fees as its use has increased.
Since bitcoin’s inception in 2009, more than 1,500 other cryptocurrencies have come into existence.
Each of these altcoins is trying to overcome one or more of Bitcoin’s flaws.
Ver, who’s infamous for his ant-Bitcoin/pro-Bitcoin Cash rhetoric, fails to mention recent improvements to the Bitcoin tech in his predictions.
The addition of the Lightning Network has vastly improved Bitcoin transaction times and reduced fees.
Could Ethereum surpass Bitcoin?
Ethereum’s market cap is currently just under half that of Bitcoin’s.
Other leading cryptocurrency experts contend that Bitcoin is too well established to lose its position as the world’s number one cryptocurrency.
Bitcoin has long been considered the “default” cryptocurrency.
The former COO of Skype, Michael Jackson, says the issues that blight Bitcoin can be overcome.
Jackson, who now works for the investment firm Mangrove Capital Partners believes overcoming the issues will negate the benefits of alternative cryptocurrencies like Bitcoin Cash, saying:
“There is so much talent in the crypto space, and people are working on solving these scalability problems.
“I don’t see why Bitcoin shouldn’t remain in the number one spot. It is still by far the best known and it is ultimately the reserve currency in the space.”
Mr. Ver concedes that Bitcoin could remain the world’s dominant cryptocurrency, however.
Although he adds, he believes such a scenario is unlikely.
He says Bitcoin’s limitations will cause it to stagnate while Bitcoin Cash will reach “hundreds of thousands of dollars” in the future, adding:
“It’s not guaranteed but it is much more likely to happen than not.
“Bitcoin cash has more than doubled in value in the last month and big investors coming in soon could see it double again by next week.
“People love to chase a rising star.”