After witnessing a drop of nearly 25% in Bitcoin value, numerous alt coins have seen double-digit gains today.

QTUM. Iota. Verge. NEO. ReddCoin. Icon. Burst... and many other alt coins experienced a remarkable recovery in the last few hours, passing beyond their peaks of the previous day.

It appears that buyers are venturing into new territory, exploring new coins after the 25% drop in Bitcoin's value today. Bitcoin's dominance in the cryptocurrency market is falling, currently at 44%. Only two weeks ago, Bitcoin towered over the market with nearly 60% dominance.

Some fear this movement from Bitcoin into the unknown.

But this is a natural step in the evolution of cryptocurrency. As more technologies and ideas are implemented using blockchain technology, more competition will inspire further growth. A broader variety of choices and competitors will improve blockchain and cryptocurrency technology. There will come a time soon, however, that many ill-conceived projects will meet their demise. This is good for the overall long-term health of the cryptocurrency market. A free market will decide what merits investment and what should be discarded. Survival of the fittest will be on display over the coming months and years.

Bitcoin may not be grabbing as much attention since the news of futures has now passed. Hopefully, attention will return to technological improvements that could soon be implemented instead of dwelling on price speculation. Key developments such as the Lightning Network and atomic swaps could be the next "big thing". When atomic swaps are enabled on Bitcoin and other "like" coins such as Litecoin and Vertcoin, there could well be a mad rush to return funds to the ailing king.

Atomic swaps could usher in the end of centralized exchanges. With the possibility of directly sending one currency to another user in exchange for a different currency, Bitcoin and compatible coins will see a huge gain in value.

So, don't give up on Bitcoin yet. It still has a few tricks up its sleeve. And keep an eye on other atomic-swap enabled coins such as Litecoin, Vertcoin, and Decred. Atomic swaps could change everything.

*This is not professional trading advice - just my opinion!

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