The simplest way to explain crypto to onlookers (versus hodlrs) is that Bitcoin is the top dog. No questions asked, there is Bitcoin, and there is everything else. Since the launch of the Falcon- 9 Saturday in Florida, Ethereum has closed the gap. No one can really say why this occurs because fundamentals are still nothing more than a guess who to value crypto in 2020. But you had a decent move in all crypto as investors try and determine if you buy Bitcoin in times of pandemic or space flights – no one really understands – but they continue to buy.
Everything else is considered an Alt-Coin, and there are 5000 of these Alt-Coins. But Bitcoin rules the roost, and BTC is used to buy nearly every other token. The trading pairs all revolve around BTC to enter and exit unless you use a stable coin as a pass-through. It is an odd way yo buy and sell, but it works for now.
The second dog on the sled is Ethereum (ETH) and along with the other support dogs, they pull the crypto industry through multiple crypto winters. Ethereum is similar to an operating system choice you make when you pick a cell phone -you can run on Android or iOS – it is similar in crypto because the software for the blockchain needs to run on something. Normally they run on Ethereum ERC-20 or something else. Ethereum has a lock on simple solutions to run a public blockchain and have an easy token path, and they are clearly the first to market when companies need to tokenize.
Crypto in general, Bitcoin and Ethereum are worth watching as the world burns and we exit a pandemic. These are unusual times, and as the world changes the currency will change, The days of FIAT are numbered, and Gold as a flight to quality. It will be all about Bitcoin and the other 5000 Alt-Coins.