Can Bitcoin become the only cryptocurrency, displacing other digital assets?

The number of digital currencies - promising and not very promising - is growing every year. To date, a site engaged in analytical research in the field of cryptocurrencies has calculated that the number of registered cryptocurrencies has exceeded 9 thousand. This indicator is the best demonstration of how many users are striving to take their place in the cryptocurrency field. However, only a few of these 9 thousand digital currencies will be able to become reliable and promising enough to become known as well as Teaser, Ethereum and, of course, Bitcoin. Nevertheless, certain cryptocurrencies always have adherents with maximalistic views on digital money. In particular, this is often observed in relation to Bitcoin: most of the holders and fans of this cryptocurrency literally idolize it, and the rest vilify it as best they can. Not for the first time in the comments, lesser-known altcoins are called "shitcoins" that have no future, while raising Bitcoin, which is "the only reliable and working asset", "digital gold" and an ideal investment option. And about the abundance of all kinds of cryptocurrencies that have flooded the market, they even say that "no one wants to have many different types of wallets", focusing on monopoly.

From such circles, the opinion leaked into society that Bitcoin, as it started all this, became the first cryptocurrency, and will finish, that is, it will remain the last and only one, and the rest of the altcoins will simply be eliminated and will not withstand the competition. But its worth noting that not many users exclusively use BTC for investment and long-term storage. Most prefer currencies that are much easier to buy due to their affordable cost, and profits can be obtained much faster - in a short time, unlike Bitcoin. It should not be forgotten that the cryptocurrency market is based on speculation.

It is impossible to predict for certain how certain altcoins will behave when Bitcoin begins to grow, but maximalism in the cryptocurrency sphere emerged from the Austrian school of economics. So, the crypto community is divided in opinions: some believe that only Bitcoin has the right to life, others that small altcoins will also be in demand and, as a result, will dominate the market. How it will actually be, only time will tell. Despite the huge capitalization of Bitcoin, the same Ethereum also has hundreds of billions of capitalization, so it may well compete for a place in the sun.