"There is no good reason that Bitcoin is still going up once Ethereum came on the scene. Transaction times, transaction cost, decentralization, future developme

"There is no good reason that Bitcoin is still going up once Ethereum came on the scene. Transaction times, transaction cost, decentralization, future development work," BTC is not popular because it's a currency - though 'it can be a currency' and people like to think about it as such, that's just what gives it the veneer of 'utility' and therefore value. 'That it is technically a currency' is a necessary aspect of getting some kind of valuation - that's not what is driving the valuation. BTC is popular because it's a speculative thing that has 'gone up' which creates a further dynamic of that, at least for some time. It's really not used as a currency, there's no underpinning value, there's no 'ownership of anything' - and so there is no way to actually value BTC. It's the most purely speculative thing ever. To compare Coins on their 'technical merit' misses the underlying premise of their valuation, which has nothing to do with technology, valuation or finance - and everything to do with mass psychology and memes. 'Some people are willing to pay $X for a number'. That is the beginning and end of it's valuation at any given moment.