Bitcoin dump, Ethereum pump! - page 7.

the ghabbar

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Quote from: Rufsilf on September 24, 2021, 06:06:43 AM

Big investors are dumping bitcoin futures and pivoting to ethereum as expectations for the world's largest cryptocurrency soften, JPMorgan says

Quote

Big-money investors are shying away from the bitcoin futures trade and pivoting instead to ethereum futures as expectations for the world's largest cryptocurrency soften, JPMorgan analysts wrote in a note on Wednesday.
In September, bitcoin futures on the Chicago Mercantile Exchange have traded below the price of an actual bitcoin, the analysts noted.
"This is a setback for bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to bitcoin," the analysts wrote.
Under healthy demand, futures usually trade at a premium to actual bitcoin. This happens because high bitcoin storage costs and the juicy yields available for passive crypto investing push up futures prices, according to previous JPMorgan research.

read more, check the link above.

The question is, do you think in the long run the dominance of bitcoin will significantly drop and Ethereum will try to compete with bitcoin?

It's interesting since it's coming from JP Morgan which IMO is not a big fan of bitcoin.

JPMorgan CEO Jamie Dimon says he’s still a crypto skeptic: ‘I’m not a bitcoin supporter. I have no interest in it’

In terms of readiness, bitcoin is more profitable than Ethereum, bitcoin has a very long process in crypto, while ethereum has not gone through the difficult process bitcoin has experienced, bitcoin's dominance will indeed decline, but not because bitcoin has no movement in the market, but because the buying and selling value of bitcoin will be higher, and this will be difficult to reach for people who have middle class finances, while ethereum has a difference, almost many people can afford to invest, the competition between bitcoin and ethereum will continue to exist all the time, but to shift bitcoin I don't think it's easy for ethereum.

pooya87

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Shitcoins such as ethereum have been dumping hard over the past 4 years, in fact majority of them haven't been capable of recovering more than 20% of what they lost during these years. Meanwhile bitcoin has not only recovered all the price it lost (from $20k down to $3k then back to $20k) but also it went up 3 times higher than its previous ATH.

In short term the pumping teams will use any excuse (like shethereum having some small pumps due to its possible upcoming fork) to pump some shitcoins but they will follow it up with a big dump to pull their money out and pump the next shitcoin.

Besides nobody with half a brain would ever invest in a useless inflationary coin with unlimited supply and a massive premine for long term.

noormcs5

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Quote from: tokeweed on September 24, 2021, 06:55:09 AM

^ Rofl! Does that face look like a guy who wouldn’t dump BTC? Cheesy

But here’s the thing tho, if BTC dumps, everything else dumps. BTC still owns the space, love it or hate it... I mean just look what happened an hour ago. BTC dumps then drags everything down with it.

And so... Euro time zone dumped, let ‘s wait for the US time zone. They’re due up in a couple of hours or so. It’s almost 7:00am ET. There’ll be a lot of broken clocks.

That's just a tactic to make more people invest in Ethereum. There is no way that Ethereum will replace the Bitcoin marketcap. Bitcoin will always remain at the top of cryptocurrency. Also we know that when bitcoin dump, all altcoins dump including Ethereum.

carlfebz2

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Quote from: StreakW on September 26, 2021, 05:36:48 AM

Ethereum will not be able to beat the dominance of bitcoin because the capitalization of Bitcoin is still very large compared to Ethereum. Basically, the price of Ethereum almost always follows the direction of the Bitcoin movement. If Bitcoin goes up, then Ethereum will go up even more. if Bitcoin goes down, Ethereum will have a stronger decline.

We cant tell but there would be some probability and it all varies with the demand or the community support because this is something that could really changed up overtime which means
that if there are some sort of reason on why people would be transferring on ETH then it could really happen but its really hard to believe on that it would really be happening on upcoming years to come
but since future is unpredictable then we are open to the possibilities.

StreakW

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Ethereum will not be able to beat the dominance of bitcoin because the capitalization of Bitcoin is still very large compared to Ethereum. Basically, the price of Ethereum almost always follows the direction of the Bitcoin movement. If Bitcoin goes up, then Ethereum will go up even more. if Bitcoin goes down, Ethereum will have a stronger decline.

stomachgrowls

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Quote from: Rufsilf on September 24, 2021, 06:06:43 AM

The question is, do you think in the long run the dominance of bitcoin will significantly drop and Ethereum will try to compete with bitcoin?

We do have lots of question similar to this back in the past.If we do consider on how many popular or known people have told their sentiments between bitcoin and other top alts then we do have lots.

Overall market dominance is still sitting on almost half compared to bitcoin which isnt the same on where ETH is almost catching on dominance back in the past.So i dont see on where
they do really get these impressions.

Quote from: Rufsilf on September 24, 2021, 06:06:43 AM

It's interesting since it's coming from JP Morgan which IMO is not a big fan of bitcoin.

We do have our own preference and own will to take up decisions on what are the things we do like.
This isnt only the basis for your investment advises.

livingfree

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Quote from: Kemarit on September 25, 2021, 11:19:49 PM

Quote from: livingfree on September 25, 2021, 07:21:40 PM

JP Morgan/Jamie Dimon only wants to buy all of those cheap bitcoins that will listen to his advice.

If they're even accumulating for the past years and stopping calling what they've used to call bitcoin then people shouldn't listen and just keep their bitcoins.

Just keep it and if someone wants to buy ethereum, buy it with your money and don't dump bitcoins for it.

I'm not going to be surprised if JP Morgan is buying in this dip again, that's why Jamie Dimon resurfaces and claim that he doesn't own Bitcoin and create another FUD. But behind our backs, his son is into BTC. Total contradictory of father-son as regards to their investment.

In any case there is no shift of investors fund, when Bitcoin dumps everyone bleeds and that case still remain up to this moment. The fact that Bitcoin is the prime mover in this market already says it all.

Well, we can have that guess that he's always buying every dip.

He has been like that even before and made a fake statement that sent the market down which was his favor. His son? I think that you're talking about Peter Schiff?

ajqjjj

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Thank you for sharing this Rolf.
Possibly that could be the dominance of Bitcoin will replace by Ethereum but I don't know this man can dump Bitcoin since Ethereum was in the next position of Bitcoin then it could be, but bear in mind Bitcoin price movement will also affect the altcoins price, most of them.
Something that there is a hidden agenda with JP Morgan about this, I smell something different on him.

marine4u

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Quote from: Gozie51 on September 25, 2021, 04:14:14 PM

I don't think bitcoin will drop dominance. This dump lately is because of the news from China and bitcoin will always be the worst hit as investors will immediately dump bitcoin and go for the second highest in cryptocurrency which is bitcoin because of the experience of 2017 that altcoins rose after bitcoin started dropping. Investors have been expecting the altcoin run since 2020 when bitcoin bull was highest do far and they expecting this to happen with altcoins for huge cash but unfortunately, bitcoin is recovering again.

China has been doing that for a decade as it worries bitcoin will become a pivotal point in the global financial and trade war. If everyone understands and is smart about this FUD will know what to do with bitcoin. If they decide to break with bitcoin, their influence will dwindle over time over their standing in the world.
While Wallstressbets launched a subreddit dedicated to bitcoin and crypto, things are turning against China as a result.

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Although from here we call altcoins "shitcoins", I think it is clear that some will survive alongside Bitcoin and succeed. Even if we don't like it, I think one will be Ethereum, because of the massive and growing adoption it is having.

This is not a defense of Ethereum on my part, I do not have Ethereum and I think I will never buy even to diversify for an ideological question: I do not like neither the centralization nor its 70% premining.

Kemarit

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Quote from: livingfree on September 25, 2021, 07:21:40 PM

JP Morgan/Jamie Dimon only wants to buy all of those cheap bitcoins that will listen to his advice.

If they're even accumulating for the past years and stopping calling what they've used to call bitcoin then people shouldn't listen and just keep their bitcoins.

Just keep it and if someone wants to buy ethereum, buy it with your money and don't dump bitcoins for it.

I'm not going to be surprised if JP Morgan is buying in this dip again, that's why Jamie Dimon resurfaces and claim that he doesn't own Bitcoin and create another FUD. But behind our backs, his son is into BTC. Total contradictory of father-son as regards to their investment.

In any case there is no shift of investors fund, when Bitcoin dumps everyone bleeds and that case still remain up to this moment. The fact that Bitcoin is the prime mover in this market already says it all.

livingfree

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JP Morgan/Jamie Dimon only wants to buy all of those cheap bitcoins that will listen to his advice.

If they're even accumulating for the past years and stopping calling what they've used to call bitcoin then people shouldn't listen and just keep their bitcoins.

Just keep it and if someone wants to buy ethereum, buy it with your money and don't dump bitcoins for it.

Hippocrypto

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Both ethereum and bitcoin had been through a lot of challenges which really caused a lot of worries. Basically this what we've experienced seeing major dumps, price goes down unexpectedly but not really affected huge group of holders.
We will see how the price going to be after end of September, hopefully recovery takes place this October without hindrances.

Slow death

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It's amazing that when someone doesn't like bitcoin he uses lower manipulation methods, he used to say that gold was better than bitcoin now that he realized that the price of bitcoin has soared and made big profits people wouldn't listen to him if he talked about gold so he went looking for something that could make people deviate from bitcoin, unfortunately for him this will not work, there is no way to compare ETH with BTC, both have already defined their community and objectives

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Quote from: Woodie on September 25, 2021, 05:00:07 PM

Is the heading suggesting that king bitcoin is losing grip of its throne to Ethereum?? From how things look on my side I might think this could be normal demand of Ethereum going on as eth users try to move their eth tokens here and there nothing from the extraordinary but if this trend keeps up it might be an aspect of manipulation to bring this topic to life and influence us to give second opinions. I hope am wrong about the last part but anything is possible.

This thread is not to influence I guess but to create a debate on which one is better. Well, this is a normal scenario since then, when Bitcoin dumps altcoins will rise its just that ETH is the top altcoins and that is why it is being compared to BTC. Bitcoin will remain on top, this can’t be changed and we all know that there’s no altcoins that are capable to do so, even ETH can’t replace BTC this is the reality.

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Is the heading suggesting that king bitcoin is losing grip of its throne to Ethereum?? From how things look on my side I might think this could be normal demand of Ethereum going on as eth users try to move their eth tokens here and there nothing from the extraordinary but if this trend keeps up it might be an aspect of manipulation to bring this topic to life and influence us to give second opinions. I hope am wrong about the last part but anything is possible.

Gozie51

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I don't think bitcoin will drop dominance. This dump lately is because of the news from China and bitcoin will always be the worst hit as investors will immediately dump bitcoin and go for the second highest in cryptocurrency which is bitcoin because of the experience of 2017 that altcoins rose after bitcoin started dropping. Investors have been expecting the altcoin run since 2020 when bitcoin bull was highest do far and they expecting this to happen with altcoins for huge cash but unfortunately, bitcoin is recovering again.

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Quote from: Furious 7 on September 25, 2021, 01:27:49 PM

Quote from: stadus on September 24, 2021, 07:01:53 AM

Please don't put that picture, lol..

Whether how many experts would say about bitcoin dumping and an altcoin will replace its dominance, I would never believe in that.

As what is shared, that guy in the picture is not a fan of bitcoin, so what can you expect from him, his statement is biased and he will not always appreciate the reality that bitcoin will dominate no matter what.

It's impossible for bitcoin to be dumped and replaced by altcoins, I think it's bitcoin haters who keep giving bad FUD.

So still bitcoin will have more fans than altcoins and this is also how it is completely dominated by bitcoin, if the dumping happens it will follow all altcoins that move down, so what JP morgan said is the person I never responded to .

It's unlikely but not impossible I guess, the market is very unpredictable, and although bitcoin is already at the top now, the crypto market will still exist and continue to be popular if an altcoin will lead it. I'm not convinced of what he said too, but I will have to digest this kind of negative opinion about bitcoin as it's important if you are investing in a high-risk market.

Jating

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It's the monthly end of bitcoin future contracts expiration, and usually bitcoin does dump during this time. However, I'm not seeing a huge pump on Ethereum, on the contrary, they've lost the $3k price range. While bitcoin remains on the safe side around $42k-443k.

So it means that smart investors are still buying bitcoin at this price. And for those who have dump bitcoin and move to Ethereum, it will be temporary, they know that bitcoin will go up in the next 3 months. So again if they are smart investors-> buy BTC, simply as that. Forget about Dimon, and usually when he opens his mouth and spew negative things against bitcoin, JP Morgan do the opposite (buy the dip.)

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Quote from: stadus on September 24, 2021, 07:01:53 AM

Please don't put that picture, lol..

Whether how many experts would say about bitcoin dumping and an altcoin will replace its dominance, I would never believe in that.

As what is shared, that guy in the picture is not a fan of bitcoin, so what can you expect from him, his statement is biased and he will not always appreciate the reality that bitcoin will dominate no matter what.

It's impossible for bitcoin to be dumped and replaced by altcoins, I think it's bitcoin haters who keep giving bad FUD.

So still bitcoin will have more fans than altcoins and this is also how it is completely dominated by bitcoin, if the dumping happens it will follow all altcoins that move down, so what JP morgan said is the person I never responded to .

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