Bitcoin dump, Ethereum pump! - page 8.

Sanitough

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Quote from: Turbolinea on September 25, 2021, 09:45:02 AM

Recently, actually Bitcoin and Ethereum price is moving parallel to each other. But some time ago, Ethereum price was really increasing while Bitcoin's was decreasing. And this could be a sign for the future also. Of course, it will not be easy for Ethereum price to get past Bitcoin's. But I think that it has a potential to do this. Because Ethereum is getting better every year with new big updates.

That was a long time ago, and it did not actually happen consistently because bitcoin is still very consistent with its dominance. The lowest dominance rate of bitcoin I remember was over 30%, and now the dominant rate per CMC is 42.3%, and this is actually good for altcoin as before the bull run, it was almost 60%, but as we can see, 42.3% over 17.9% for ETH, there's a huge difference.

(https://coinmarketcap.com/)

mk4

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Quote from: Turbolinea on September 25, 2021, 09:45:02 AM

Recently, actually Bitcoin and Ethereum price is moving parallel to each other. But some time ago, Ethereum price was really increasing while Bitcoin's was decreasing. And this could be a sign for the future also. Of course, it will not be easy for Ethereum price to get past Bitcoin's. But I think that it has a potential to do this. Because Ethereum is getting better every year with new big updates.

Having frequent updates is not much of an advantage than most people think. More updates and more moving parts = far higher chances of bugs and exploits. Remember, we're talking about blockchains here. Bugs are 1000x more disastrous compared to a bug in a typical AWS-hosted app/platform. Kudos to them if they can keep up with the same pace without any problems, but time will tell.

Turbolinea

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Recently, actually Bitcoin and Ethereum price is moving parallel to each other. But some time ago, Ethereum price was really increasing while Bitcoin's was decreasing. And this could be a sign for the future also. Of course, it will not be easy for Ethereum price to get past Bitcoin's. But I think that it has a potential to do this. Because Ethereum is getting better every year with new big updates.

Lucius

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Quote from: Rufsilf on September 24, 2021, 05:06:43 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?

I have the impression that some passionately want Bitcoin to be removed from the throne in any way, and all just so that those who joined the BTC gold rush late could profit. There is no surprise here, everyone who bought coin X during 2017 or earlier for less than $10 per coin has already profited, but is wondering if its price can be even higher.

However, the key features of Bitcoin are not something that any altcoin can just copy, so I think that in the long run no altcoin will take over and become the new king on the throne.

BurningChrome

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It is impossible to predict the future of the market and the price of crypto-assets like Bitcoin and Ethereum. Some will say that their value will rise, some say that their value will fall, but not much can be predicted when it comes to these digital currencies.

Bitcoin and Ethereum are both highly speculative assets that cannot be used as a currency globaly because they lack legal support. They are both volatile and volatile assets cannot be used as currency and often lose half their value, or more in just a few days. Until the level of speculative investing in crypto-assets grows and become more mainstream, it is difficult to predict where their value will go in the future.

tokeweed

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BTC seems to have bounced as soon as 9:00am ET hit. Let’s see if this is just a dead cat bounce or if it’s a recovery. Hoping for the latter of course, for all our sakes. Lol.

Around 15 minutes to go til the next hourly candle...

ethereumhunter

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Ethereum is not rising too high, so I prefer to wait for more, but bitcoin is down for more. I hope the price is not down too deep because we have already seen that before. But we can not do anything if the price is still getting down and drops to $40k while we also get a discount for more to buy bitcoin. This month seems to be the downtrend for the crypto market, but hopefully, next month will be a good month that can turn the direction and have a big rally until the end of this year.

Sanitough

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Quote from: Rufsilf on September 24, 2021, 05:06:43 AM

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

It explains already his view on bitcoin, why would we though that bitcoin will dump when it's the most important coin in the crypto market. Before the crypto market is created, we only know bitcoin, and then altcoins are created and they become popular as well.

As per usage wise, we can tell that ETH is better, but as long as the majority of people trust bitcoin over altcoins, bitcoin will remain at the top
In the long run, it's not the whales who will dictate but the masses who hold and use bitcoin.

stadus

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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.

tokeweed

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^ 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.

Rufsilf

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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’

Topic: Bitcoin dump, Ethereum pump! - page 8. (Read 837 times)