The leader of this bull market may no longer be Bitcoin, but may be other currencies. Among them, Ethereum is the strongest competitor.
I think the leading stock in this round of bull market may change from Bitcoin to Ethereum, which is mainly based on the speculation logic of the dealer and the advantages of Ethereum. First of all, from the perspective of the dealer's speculation logic, the market makers tend to like new things and dislike old things. Bitcoin has experienced many speculations, the price is already too high, and there are many locked-in shares, so the main force may choose to change the plate for speculation. Ethereum is relatively low in price, so it is relatively easy to speculate.
Secondly, Ethereum’s own advantages cannot be ignored. Ethereum has a destruction mechanism and is a smart contract platform for the second-generation Internet. Its ecology is more developed than Bitcoin and its investment value is higher. These advantages add a lot of points to Ethereum, making it likely to become the leader of the next bull market.
Of course, this judgment is just an inference based on known situations in the past, which is subjective and may not be realized. There were no similar opinions in the news media and on the Internet at that time. I can only say that my senses are sharper, and this judgment is just intuition and has not been verified.
However, a recent report strongly supports my point of view. Fidelity Digital Assets, the world's largest professional fund company, released the "Second Quarter Signal Report for 2023" on July 18, which found that 47% of investors expect Ethereum to "surpass" Bitcoin. The report pointed out that the Ethereum network's higher destruction rate relative to token issuance, new address trends, and the growth of the number of network validators are all important factors in the bullish outlook for Ethereum.
