Bitcoin has always been the dominant cryptocurrency in the market, without any exceptions.
While its market capitalization has always been higher than any other cryptocurrency, it doesn’t mean that there won’t be coins that can perform better than Bitcoin in the next bull market. We have seen this happen in the past.
So, we decided to ask ChatGPT – the most popular AI-based chatbot – its opinion on which cryptocurrencies can outperform Bitcoin in the next bull market.
Which Cryptocurrencies Can Outperform Bitcoin in the Next Bull Market?
Ethereum Comes First
Not surprisingly, Ethereum (ETH) is the second-largest cryptocurrency based on market capitalization. It’s arguable whether it’s the first or second largest based on its community. However, it’s safe to say that Ethereum has gained massive attention since its inception.
ChatGPT says that its smart contract functionality has made Ethereum the backbone for numerous decentralized applications (dApps) and Decentralized Finance (DeFi) projects.
And it’s not wrong. Ethereum has been at the forefront of DeFi adoption for years and remains strong as the number one contender to outperform Bitcoin in the next bull market.
By the way, if you’re curious about when the next bull market may come, we have a dedicated video on six things to watch for Bitcoin’s price this year. Check it out:
Ripple (XRP) Also a Contender
Ripple’s XRP has been in the top 10 cryptocurrencies for years. However, there’s more to it than meets the eye, especially in recent years.
Ripple Labs is currently involved in a significant legal battle with the United States Securities and Exchange Commission (SEC). The SEC argues that XRP is a security and that the company conducted an unregistered securities offering when selling it.
If XRP is ruled as a security, it would be subject to regulations, making it harder to sell on secondary markets. This ongoing lawsuit has likely suppressed XRP’s price as investors are cautious about a potential ruling in the SEC’s favor.
Recently, though, the presiding Judge Analisa Torres ruled that XRP doesn’t meet the criteria of an investment contract when sold on secondary markets (not on primary). This was seen as good news, and XRP’s price almost doubled on the day of the decision.
It’s possible that a complete victory in the SEC case could lead to further price increases.
Oh, and we also asked ChatGPT about its thoughts on how high XRP can go in the next bull run. Find out in the following video:
Binance Coin (BNB): CZ-Led Empire to the Moon?
Binance Coin (BNB) is the native cryptocurrency of Binance, the world’s largest exchange in terms of volume and likely other metrics as well.
To underscore Binance’s size, let’s look at the trading volume of the past 24 hours. According to CoinGecko, Binance’s normalized trading volume in the past 24 hours stood at over $4 billion. In comparison, the second-largest volume was $900 million on Coinbase.
If that doesn’t convince you, consider this – Binance’s trading volume for the past day is equal to the combined volume of the next eight largest exchanges.
BNB fuels the entire Binance ecosystem, and the company has committed to burning a portion of it based on profitability. During bull runs, exchanges generate significant revenue, which often leads to higher profits and more BNB being burned forever. This theoretically increases the value of the remaining BNB tokens.
There’s More
ChatGPT also mentioned that other cryptocurrencies may have a chance if market conditions are favorable. These include:
- Cardano
- Polkadot
- Chainlink
- Litecoin
It will be interesting to see how the market shapes up in the next bull run, whenever it may occur.
