I'm still long from sub 0.01 and $7...as usual I wish I've bought more but we all know how it goes. I'm not selling anytime soon especially with the ETF decision looming. I think ETH is the place to be right now as I don't feel the ETF will go through. Either way, ETH will benefit. Yes the price will suffer in BTC terms if it's approved but in terms of fiat, all major altcoins will ultimately benefit.
If the ETF doesn't go through, the fiat pair will definitely suffer short term (when BTC dumps, altcoins don't react that quickly to keep their fiat value) but it will definitely be used as a hedge along with fiat and other major altcoins. And I may get a lot of hate, but if the ETF doesn't go through we could enter a very long downtrend for BTC, and the concept of "The Flippening" could become a reality as in my opinion Bitcoin doesn't have a lot in the horizon for the next months (inner fights, blocks full, China regulation).
You may not believe in ETH but there is a lot of stuff coming in the short term, especially Metropolis and POS hype, we all know what something similar did to Dash...I won't even mention the Ethereum Enterprise Alliance which to me is the greatest nod from fintech to cryptocurrency ever.
If the ETF doesn't go through, the fiat pair will definitely suffer short term (when BTC dumps, altcoins don't react that quickly to keep their fiat value) but it will definitely be used as a hedge along with fiat and other major altcoins. And I may get a lot of hate, but if the ETF doesn't go through we could enter a very long downtrend for BTC, and the concept of "The Flippening" could become a reality as in my opinion Bitcoin doesn't have a lot in the horizon for the next months (inner fights, blocks full, China regulation).
You may not believe in ETH but there is a lot of stuff coming in the short term, especially Metropolis and POS hype, we all know what something similar did to Dash...I won't even mention the Ethereum Enterprise Alliance which to me is the greatest nod from fintech to cryptocurrency ever.
Well done on holding your position. I took my profits a while ago and got into the PASC and NEX pumps.
There are whispers that the SEC will approve, but we'll see. If the ETF does get approved, Ethereum will probably dump, but BTC's rise should also push it over its USD ATH, which may spark buying, as a high-beta play on Bitcoin. If 0.015 can be taken out, then major resistance is going to be in the 0.02 - 0.024 range around last Devcon.
If the ETF gets rejected, I see a correction in BTC, but not the end of the rally. Longer term, the scalibility is going to be an issue if it's not resolved, but I don't believe it will prevent higher highs in the immediate future.
) before it can rise again. 