Ethereum giving bitcoin a hard chase

temple

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Quote from: Silberman on May 16, 2021, 01:56:24 PM

Quote from: livingfree on May 14, 2021, 01:39:25 PM

There's now a share of 20% in dominance for Ethereum while bitcoin has became 40%. We get that idea whenever bitcoin drops in dominance, it's for sure that the money will go in to the altcoins market and firstly to Ethereum.

Before it's not that much of a difference but now, Ethereum's dominance is just half of what Bitcoin got.

The problem for ethereum is that this is not going to last, we have seen ethereum get incredibly close to bitcoin in terms of dominance and market cap and yet bitcoin always ends up winning the race and it is not difficult to know why, ethereum allows the creation of a lot of coins above its network but bitcoin is actually used to buy stuff with it and despite the popularity of ethereum this is still true today and I do not see how this is going to change.

You could say the same about Bitcoin. I thought that the prospects for Ethereum aren't that bad given that they plan to fully transition into POS. Once that happens wouldn't that lead to further value appreciation? Investors will tend to hold I'd expect.

Silberman

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Quote from: livingfree on May 14, 2021, 01:39:25 PM

There's now a share of 20% in dominance for Ethereum while bitcoin has became 40%. We get that idea whenever bitcoin drops in dominance, it's for sure that the money will go in to the altcoins market and firstly to Ethereum.

Before it's not that much of a difference but now, Ethereum's dominance is just half of what Bitcoin got.

The problem for ethereum is that this is not going to last, we have seen ethereum get incredibly close to bitcoin in terms of dominance and market cap and yet bitcoin always ends up winning the race and it is not difficult to know why, ethereum allows the creation of a lot of coins above its network but bitcoin is actually used to buy stuff with it and despite the popularity of ethereum this is still true today and I do not see how this is going to change.

magneto

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This just shows you the extent of the cryptocurrency bull market.

It is very likely that we're seeing the late stages of the year-long bull market right now. It is usually in this stage that altcoins get pumped to absolutely insane heights, and BTC dominance dies down a tad. We're also heading towards a bearish territory in terms of timing (>1 year after halving). ETH is not going to take over BTC, but with BTC's price action dying down, speculative money is now flowing towards ETH for obvious reasons.

Be cautious when everyone else is greedy - that is something to live by for sure.

Oilacris

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Quote from: Dinda mayasi on May 15, 2021, 06:39:36 PM

No matter how good the market conditions are, it all starts with the rise in BTC. BTC is the life of the crypto world. Either ethereum or whatever the price is skyrocketing, will not be able to replace the popularity of BTC. In fact, other coins can live because there is BTC. Just imagine, from the previous year, if BTC went up, it was always followed by a rise in coins or other tokens. Like humans, BTC is the head or the life of the crypto world. So stop assuming BTC will be replaced by another coin. It won't work.

Already a decade but still no alt could really replace bitcoin when it comes to popularity and support even how altcoins would progress out in terms of their prices.

Thing they should mind is that on giving out other alternative but a little much better with current features where bitcoin do provide on but still not enough

for it to be placed on the peak spot.Lots had tried but nothing beats out the king.

Dinda mayasi

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No matter how good the market conditions are, it all starts with the rise in BTC. BTC is the life of the crypto world. Either ethereum or whatever the price is skyrocketing, will not be able to replace the popularity of BTC. In fact, other coins can live because there is BTC. Just imagine, from the previous year, if BTC went up, it was always followed by a rise in coins or other tokens. Like humans, BTC is the head or the life of the crypto world. So stop assuming BTC will be replaced by another coin. It won't work.

shogun47

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Quote from: ven7net on May 15, 2021, 12:34:43 PM

Quote from: Nickbryan10 on May 04, 2021, 06:41:50 AM

Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

I love ETH and have been working with it for over three years now, but I cannot say that ETH negatively affects the price of BTC. I believe that everything that happens to crypto prices, for the most part, is manipulation by large players, and when you see that, for example, the price of BTC falls, this does not mean that it was influenced by ETH or another cryptocurrency. This is all the game of big players who make money on these manipulations. But no matter how it was, the price of ETH will still not be able to become the same as BTC, which means that ETH will always be at least the second number, which is also very good.

It certainly does not negatively affect the price of BTC. It rather pulls audience into the market that also buys BTC in the end. I would describe as if they work hand in hand together, but given the different and important use cases they serve it wasn't all too shocking that one day ETH will make up in terms of market capitalization and market share. BTC dominance has no real importance any way and I expect it to decrease further. How else could it be if on the one hand you have 10,000 projects and on the other hand BTC.

ven7net

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Quote from: Nickbryan10 on May 04, 2021, 06:41:50 AM

Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

I love ETH and have been working with it for over three years now, but I cannot say that ETH negatively affects the price of BTC. I believe that everything that happens to crypto prices, for the most part, is manipulation by large players, and when you see that, for example, the price of BTC falls, this does not mean that it was influenced by ETH or another cryptocurrency. This is all the game of big players who make money on these manipulations. But no matter how it was, the price of ETH will still not be able to become the same as BTC, which means that ETH will always be at least the second number, which is also very good.

Benefactor

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I have been noticing the market for quite a long time and the occasions when altcoins have boated BTC by a great deal. I accept that the FOMO of the market won't keep going long until BTC begins to fall. Something else is that Ethereum is having a decent market cap today and that is likewise shows a decent result for it's worth. We don't have to look at this two since they are not similar angles.

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Quote from: Oceat on May 14, 2021, 04:27:45 PM

No matter where I look at it Ethereum can't pass Bitcoin and that's a fact. No need to worry who's chasing since Bitcoin price is enough evidence that all of these shitcoins been doing is just due to the hype because of the bull market but when the hype's done and it's time for the bear to set in I know what you guys wanted to say in the end.

Bitcoin is just the original coin that Satoshi Nakamoto made and these altcoins you were talking about is just a copy of Bitcoin that's why it's always relevant/interconnected whatever the market trend of Bitcoin almost everything else will follow. And as you can see when Bitcoin is slowly dropping Ethereum is also dropping.

That's a fact, hm... Is that scientifically proven or did you speak to god or the holy third eye? I mean accept your "facts" but I would appreciate if you can point me to the sources of your enlightenment, I really mean that! If we can all have access to these untouchable sources that you have access to, we would all know much more and have a better understanding of what to do next. I accept any sort of evidence, but it must live up to the requirements the word evidence inherently demands to back up a claim such that it can be considered truth by valid standards.

BuNga_cute

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Quote from: livingfree on May 14, 2021, 01:39:25 PM

There's now a share of 20% in dominance for Ethereum while bitcoin has became 40%. We get that idea whenever bitcoin drops in dominance, it's for sure that the money will go in to the altcoins market and firstly to Ethereum.

Before it's not that much of a difference but now, Ethereum's dominance is just half of what Bitcoin got.

Ethereum's performance is indeed increasing, even Ethereum's dominance is now half that of Bitcoin. This is a fun thing for Ethereum holders,
because Ethereum can provide quite a large profit, I believe Ethereum can still go up even higher. Even Ethereum this month could hit
the price of $ 5000, so it's best not to rush to sell Ethereum that we have. We have to monitor Ethereum's movements for at least the next week.

Oceat

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No matter where I look at it Ethereum can't pass Bitcoin and that's a fact. No need to worry who's chasing since Bitcoin price is enough evidence that all of these shitcoins been doing is just due to the hype because of the bull market but when the hype's done and it's time for the bear to set in I know what you guys wanted to say in the end.

Bitcoin is just the original coin that Satoshi Nakamoto made and these altcoins you were talking about is just a copy of Bitcoin that's why it's always relevant/interconnected whatever the market trend of Bitcoin almost everything else will follow. And as you can see when Bitcoin is slowly dropping Ethereum is also dropping.

Stedsm

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Why are you considering ETH alone against BTC if it's about the total gains? There are many coins that gave 10-100x (and I'm not talking about those meme shitcoins that are not even worth a cent) and are still rallying up hard. If it's because ETH comes 2nd to BTC and you're comparing both of them, remember always that BTC will remain the father (and even mother) of all cryptocurrencies and whatever happens to Ethereum, I don't think that a fully centralized crypto will replace a pseudonymous coin behind which too much energy is being spent to mine it. I'm waiting for the weekend show because the speed Ethereum showed yesterday during the drop was much quicker than it used to, during the past dumps and if BTC dumps back again, I believe ETH will be the one to be hit hard by the investors.

You are seeing ETH going higher quickly just because BTC's dominance is lower than 50%, let it recover and then we will see who's the boss.

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Most cryptocurrencies have started so great this year, but some of them can not keep it till today. As you above said BTC commanded about 70% of the cryptocurrency market, but today ETH has replaced BTC. But it doesn't mean that this will not change in the future. l think there is nothing to worry about that, BTC will dominate again in the near future. Overall Both of them are the best currencies and indeed ETH is increasing so rapidly, but there is a huge difference between the price of ETH and BTC.

temple

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Quote from: LUCKMCFLY on May 14, 2021, 01:33:45 PM

ETH is becoming a winning currency as it has now risen a total of 9%, apparently the recovery of BTC is being reflected in what is considered the second currency after BTC, this can cause continuous growth in many alts. ETH is likely to reach $ 4,500 if all goes well for BTC.

Quote

Ethereum (ETH) is about to make a retest of the $4,200 level as soon as bulls seize the initiative. If they can break the resistance and trade above it for a few days, the mark of $4,500 can be easily attained.

Source: https://u.today/btc-eth-xrp-ada-and-bnb-price-analysis-for-may-14

I think that the chase that occurs between BTC and ETH is very healthy, if BTC goes in one direction ETH follows it and even exceeds it.

Bitcoin just shouldn't drop sharply and you could say it goes well enough such that Ethereum can keep rising. It recovered quite well over the last day. $ 4,500 is more than likely and once that happens it's not easy to tell whether we may even be going for $ 5,000.

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There's now a share of 20% in dominance for Ethereum while bitcoin has became 40%. We get that idea whenever bitcoin drops in dominance, it's for sure that the money will go in to the altcoins market and firstly to Ethereum.

Before it's not that much of a difference but now, Ethereum's dominance is just half of what Bitcoin got.

LUCKMCFLY

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ETH is becoming a winning currency as it has now risen a total of 9%, apparently the recovery of BTC is being reflected in what is considered the second currency after BTC, this can cause continuous growth in many alts. ETH is likely to reach $ 4,500 if all goes well for BTC.

Quote

Ethereum (ETH) is about to make a retest of the $4,200 level as soon as bulls seize the initiative. If they can break the resistance and trade above it for a few days, the mark of $4,500 can be easily attained.

Source: https://u.today/btc-eth-xrp-ada-and-bnb-price-analysis-for-may-14

I think that the chase that occurs between BTC and ETH is very healthy, if BTC goes in one direction ETH follows it and even exceeds it.

shogun47

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Quote from: adaseb on May 10, 2021, 10:48:34 PM

The reason why is because bitcoin is expensive for most people. This is why people want to change the units into Sats instead of a full bitcoin because most people don't have $50000 saved up and most people don't realise you can buy fractions of a bitcoin instead of a whole.

So people started to buy alts and the cheaper the better like Doge. This is why we got tons of people all over this forum asking how to buy Doge or mine Doge because they aren't interested in ETH or BTC because those are way too expensive. And this is also another reason why XRP is very popular with most people.

They sign up for a new exchange and see BTC, ETH, XRP, DOGE at $50000, $4000,$1.50, $0.50 and they buy the cheapest coins because that is all they can afford.

Which logically makes zero sense, but I also know people who ask me what a cheap / low price coin is and believe that that coin offers more opportunity to increase their investment. If you think that way you could just scroll to the bottom of coinmarketcap.com and buy a coin that is close to zero hoping it will go from a fraction of a cent to two fractions of a cent. They lack basic economic understanding and I think you should get your lack of education out of the way before playing around with cryptocurrencies or any other investment.

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Quote from: husencoe on May 11, 2021, 09:38:29 PM

Not impossible, but to go beyond the Bitcoin price I think it will be very difficult. Bitcoin is the first cryptocurrency that exists and has been trusted by millions of users. Maybe ETH can create a great technology for its tokens, but BTC certainly doesn't stand still. Bitcoin is also always making improvements. I think the price curve is only temporary because the value of BTC has gotten too high, and then so many investors are looking for second coins for medium-term gains.

Ethereum is a good coin we all know that, but thinking that it can surpass bitcoin are some major words, bitcoin is still improving and the developers are not going to allow another coin to take the spot of bitcoin, also when we think about it this is not only about the technology this is about the trust that people have in bitcoin, and when it comes to that ethereum is nowhere close to that trust and without that ingredient it is impossible for ethereum to surpass bitcoin.

temple

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Quote from: suzanne5223 on May 11, 2021, 06:35:02 PM

Quote from: temple on May 10, 2021, 09:27:56 PM

Quote from: suzanne5223 on May 10, 2021, 04:38:10 PM

Quote from: temple on May 10, 2021, 08:00:05 AM

Quote from: suzanne5223 on May 09, 2021, 06:42:46 PM

Quote from: temple on May 09, 2021, 06:23:55 PM

Quote from: Ararbermas on May 08, 2021, 02:57:37 PM

Quote from: c_atlas on May 04, 2021, 07:00:01 AM

The thing I find most interesting is ETHs market cap today is higher than BTCs market cap at the peak of the 2017 bull run. That must have some implications for the floor for BTC, don't you think?

oh yes that's why eth now is keep pumping as i check it also in cmc wherein it's like tending to increase more.. actually no one is expecting eth will doing a good improvement especially despite of some issues, only hopes it loses it's value so that the fees will decrease also.. But see what's happening right now, I dont know if this will bring a good news or not since still there are some factors in it.

I think there is a realistic chance for ethereum's market capitalization to get very close to Bitcoin or maybe even overtake Bitcoin in the future. I didn't there could be a coin getting even close to Bitcoin but I changed my mind and Ethereum could do it.

I dont know if you guys understand that the reason for this crypto currency was because Satoshi create Bitcoin and ETH or other altcoin have no tendency to be compare not to say compete with Bitcoin.
I wonder how you do your calculation before saying ETH cap is higher than BTC.

I didn't say it is higher than the capitalization of Bitcoin, I just said it could happen. My thoughts are that Ethereum is a multi-purpose blockchain and thinking a few years ahead into the future the Ethereum blockchain might be the home thousands and thousands of serious applications if they manage to scale their transaction capacity.
If that happens that is at least one strong argument for Ethereum getting close to Bitcoin, if not even surpass it.

Yes, Ethereum is a good concept project no doubt about that which is the reason why the Australian government is planning to work with the ETH team and there's a chance that it will be the next Bitcoin after the total 21 million Bitcoin is mine cause I believe people will see Bitcoin as diamond then but the ETH team seem not to be serious with the project lately due to the ETH2.0 delay.
Having said that, this is multiple involve chat and I was referring to c_atlas, not you.

The next Bitcoin in terms of what? In terms of value? Bitcoin won't be the next Ethereum and Ethereum won't be the next Bitcoin because they solve different problems as I mentioned above. I have no idea what the Australians are planning to do with ETH but there is a number of applications that governments could be interest in using a blockchain like Ethereum for. For example all kinds of digital registries or elections.

First, you understand what I mean when I said to be the next Bitcoin, because when a total of 21 Million of Bitcoin is mine people would keep their holding than spending it so the supply will be small while the demand will be high and most crypto enthusiast that use crypto to send payment will make use of Ethereum that what I mean.

The Australian government never disclose what they want to use ETH for but I believe it something big.

No I didn't know what you meant by next Bitcoin and as for the low supply part of your statement, that is why Bitcoin also has Satoshis. One Bitcoin is 100,000,000 Satoshis. That should be more than enough to allow for broad adoption and usage of Bitcoin even if the demand keeps going up.

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Quote from: Golftech on May 11, 2021, 12:02:14 AM

Quote from: SyndicateLabs on May 10, 2021, 09:59:48 PM

Quote from: Nickbryan10 on May 04, 2021, 06:41:50 AM

Bitcoin is gradually losing market value. At the start of this year, Bitcoin commanded about 70% of the total cryptocurrency market but with the continued surge of ethereum that has dropped to about 47%.
Earlier this week ethereum got to its all-time high after reaching 3,000 and it quickly got to 3200 yesterday which amount to 15% of the crypto market. Ethereum is giving bitcoin a hard chase as it is gradually dropping the market value of BTC. This is expected to continue as many investors are flooding to ethereum.

I have an investment in this market at a fair equilibrium level, from the moment I bought it I had a plan to divide the amount of money over the cryptocurrencies I hold. And partly BTC and ETH as it is the leading coin and the future for the whole market, although there may be short-term fluctuations in price between the two, but they are both making a profit. It's huge for me right now, and I don't feel too anxious for an upcoming correction if it persists.

If you are ready and you anticiapte whatever the market will comes up, the chance that you wont' do anything

to harmed your investment is very possible, as long as you really taking time to learn more about this venue of

investment, you always that chance to grow, corrections is real and you need to make a good sets of plans to make

sure that you are capable of waiting and holding your assets.

Of course, I understand the problem and that is the reason to always believe in this market. It took me almost 2 years to get ready to buy btc and eth, and I am still happy to my friends that I still only bought BTC when it was $4000 and ETH was just around $100, and I has not yet intended to sell any of the cryptocurrencies it holds.

husencoe

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Not impossible, but to go beyond the Bitcoin price I think it will be very difficult. Bitcoin is the first cryptocurrency that exists and has been trusted by millions of users. Maybe ETH can create a great technology for its tokens, but BTC certainly doesn't stand still. Bitcoin is also always making improvements. I think the price curve is only temporary because the value of BTC has gotten too high, and then so many investors are looking for second coins for medium-term gains.

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