Ethereum (ETH) started to diverge from Bitcoin (BTC) around the end of February, 2019. This led to a state of confusion in the market as investors were confused whether to follow ETH/USD or BTC/USD. This was a strong indicator of the disconnect between Bitcoin (BTC) maximalists and altcoin believers. Most Bitcoin (BTC) maximalists believe that all cryptocurrencies apart from Bitcoin (BTC) are scams. Well, if you think about them as cryptocurrencies then yeah, they are a scam. Why? Because Bitcoin (BTC) was created to solve the double spending problem and to create a digital currency that is protected from inflation. So, if projects like Ethereum (ETH) or Litecoin (LTC) have their own cryptocurrencies that can be used to make purchases, then what is the difference between this and fiat? Today it is Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH) but tomorrow it will be some other cryptocurrency that is hyped up like Zilliqa (ZIL), Eos (EOS) or Tron (TRX).
Now, this is a very valid argument but what Bitcoin (BTC) maximalists fail to see is that those projects are not necessarily Bitcoin (BTC) competitors although some of them like Ripple (XRP) claim to be. This disconnect between Bitcoin (BTC) and altcoin believers runs very deep. It would thus not be surprising to see Bitcoin (BTC) break away from the altcoin market sometime in the future. This would formalize the disconnect between the two and finally assign to them the different markets that they need. Bitcoin (BTC) and Ethereum (ETH) were never meant to be in the same market. Both of them may use blockchain technology but they are not the same. Bitcoin (BTC) is more like digital gold whereas Ethereum (ETH) is more like a stock.