Why can't the current Ethereum price keep up with the Bitcoin price? - page 3.

kindbtc

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

Actually what happened to ethereum?

If you checkout the market today you will see that ethereum price has broken 500 resistance which was very important for future price direction of eth, with this break we can expect eth to finally gain momentum that is important for longterm bulls.

Jackl87

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Since September the total markectap of cryptos increased from 330B$ to now above 500B$, this means a lot of new FIAT went into the crypto market.
For most investors that are not so familiar with cryptos yet but heard from it and want to give it a shot there is only one project they know to invest into: Bitcoin.
During the bullrun in 2017 it also began with a rise of BTC but then afterwards the altcoin season began and BTC dropped to 1/3. Maybe we will see such behaviour again soon.

Insomnia family

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Quote from: Lore06 on November 20, 2020, 09:25:56 AM

If we want to compare eth and bitcoin prices in 2017 with the current eth and bitcoin prices, the current eth price should have reached $ 800, but as we see, eth price is still far from most people's expectation.
The reason is, the current situation is much different from the situation in 2017 from various sides, especially the supply of eth which is already very large.

Yes, that's right, when compared to 2017 it is very different. but at least ethereum has been doing well in terms of pricing although not what we expected for ethereum to go up to $ 800- $ 1k after seeing BTC pump up at $ 18k. However the current increase in ETH prices leaves most of the erc20 altcoin / token holders a little disappointed due to the high gas costs, the congested network, especially if the altcoins generated from the bounty, especially those listed on Uniswap, require high withdrawal fees and are not worth the payoff koinya.

Smartprofit

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Ethereum may be priced at $ 1,000, but how justified is that price?

Ethereum has its own ecosystem, in particular DeFi. The higher the price of Ethereum, the higher the commission on its network. The higher the fees in the Ethereum network, the worse for the projects of the Ethereum ecosystem. The worse the situation is for projects, the less the value of Ethereum as a cryptocurrency.

At the same time, the rise in the price of bitcoins is accompanied by an increase in the price of Ethereum (in BTC).

ije07

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it is not impossible if ethereum can break $ 500, you can see for yourself the current market situation after bitcoin pumped $ 18k and has influenced the ethereum price to break the $ 500- $ 505 range. to me it is amazing that ethereum can hit $ 500 before the end of the year comes.

Lordhermes

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Remember that the difference in drop down between bitcoin and ethereum wasn't that much as of 2017 so both started the bull together within a close range, meanwhile the 2020 bullrun case is quite different and on top of the delay in ethereum 2.0 which of course has effect on the price stability now.

Quote from: Herbert2020 on November 20, 2020, 05:15:08 AM

..... ETH is practically useless. the only time you see it used is when someone wants to create a scam ICO token.

That's why ethereum is known as utility token that's, a center of different innovations in the crypto space thereby giving room and opportunity for scammers through ICO, DeFi and many more.

Dragonfund

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Quote from: isaac_clarke22 on November 20, 2020, 09:36:42 AM

It's simply because of the difference of the supply that circulates around the market.
ETH and BTC are different when we start to talk about scalability.
Consider as well that many people are into Bitcoin, but that doesn't put ETH into the corner.

This is wrong. I know supply actually determine the rate of buy and sell but you should know that even if bitcoin supply is more than 21 million, each Btc can be price at $50k/Btc. It's actually what price the buyers are willing to bid and what sellers are asking. It's just like the way auctions work in localities, that's how order book determines its price.

Looking at ethereum, one can deduce that its ready to explode as soon as Eth2.0 goes live as the current price remains at $506,thr next resistance is $610 and hoping Btc price don't flip this as 2020 all time high.
If Btc dominance should shift, altcoins will go gaga, and ethereum will be the leader.

bocyaj

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

Actually what happened to ethereum?

It may be due to many factors.The people may invest more in bitcoin in 2020 and it may equal during 2017.So the price of ethereum is low due to investors for now will be low.Some are waiting to inverse in Ethereum 2.0 then in ETH.Because new coin always inspire the investors.

isaac_clarke22

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It's simply because of the difference of the supply that circulates around the market.
ETH and BTC are different when we start to talk about scalability.
Consider as well that many people are into Bitcoin, but that doesn't put ETH into the corner.

Lore06

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If we want to compare eth and bitcoin prices in 2017 with the current eth and bitcoin prices, the current eth price should have reached $ 800, but as we see, eth price is still far from most people's expectation.
The reason is, the current situation is much different from the situation in 2017 from various sides, especially the supply of eth which is already very large.

7788bitcoin

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

If you are surprised by the price disparity then you need to understand the bottom it reached after touching their all time high valuation. With the delay in transactions as well as the delay in rolling the ETH 2.0 upgrade is the reason they are struggling to break the resistance around $500 when the price of bitcoin already touched $18k. Still i was surprised to see that ETH was able to make these big strides in valuation.

abahcoin

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not always like that, first in 2017 in my opinion ethereum helped increase the price of bitcoin. Because many people invested in the ethereum ICO, ethereum prices went up and at the same time increased bitcoin prices. Now many people are investing in bitcoin and the ethereum ICO project is less profitable so the price of bitcoin rising doesn't really affect Ethereum prices.

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

Actually what happened to ethereum?

In my opinion, what makes the price of Ethereum does not increases very high like in 2017 is :
1. ICO are not popular anymore, because in 2017 many new project (ICO) were using Ethereum platform and this made the price of Ethereum increases very high;
2. There are already many new project whose product are the same as Ethereum (blockchain), so Ethereum has a lot of rivals for now;
3. Cryptocurrency market hasn't had a bull run yet, because only the price of Bitcoin has increased very high for now and altcoin prices are still recovering.

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Quote from: masterrex on November 20, 2020, 07:34:31 AM

Mate thing is different now compared to the 2017-2018 Bullish period. Because the growing price of Bitcoin today is due to the institutional players/investors that pouring some capital into the market thats, why we can't, say that this price boom is just a bubble, Its the same as Ether actually Eth has already breached the $500 dollars price level today. I believe in December things might change in all top-ranking cryptocurrencies in the market If Bitcoin price continues to grow top altcoins will also grow next.

Now we hearing good news related to bitcoin after every few days. Like large investment from big institution and billionaire, newly adoption at various platform. These helped bitcoin to gain strong position and huge growth. While ethereum don't have any recent good news. Even the eth 2 launch is obscure. Gas fee mostly remaining high. So I think it will take longer time for eth to increase like before. Maybe not this year. And bitcoin will gain more strong position than ethereum within the time.

pilosopotasyo

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We are in a different scenario, so many things have happened we have DeFi, we have stable coin decentralized is on the hype, things that are not there on the last all time high, we have to see what happen after we record another all time high, will the price still go up, will it crash, we don't know until it happen.

Kvalentine

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Bitcoin charts shows steady growth unlike pump charts that drives straight up lines, bitcoin grows higher and fix corrections along the journey, this show make you understand that altcoins will do the same thing, altcoins won't just surge up instantly, they will slowly move up, Ethereum is a bit over 500$ today

Anyobsss

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

Actually what happened to ethereum?

Ethereum isn't doing bad tho. If you will look at ethereum's trend it is bullish and today, Ethereum just break through the 500 USD resistance, and it's a good sign. More people will ride the trend and it means demand. We just have to be patient, it might not rise quickly like btc but it is slowly and steadily gaining.

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Nec Recisa Recedit

ethereum it's a completely different cryptocurrency, both have close two different use cases and during the years we have seen a strong spread between.
Since it's also inflationary with ETH you can't have a scarcity effect. I think there are too risk in ETH for seeking a profit while holding for long term.

DoublerHunter

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Quote from: ZZ8ZZ on November 20, 2020, 07:22:02 AM

Quote from: ?? on ??

The scalability issues are the main problem and the current market conditions are not as same as in 2017. BTC first time has crossed the $17k price and the altcoins have followed this route all the way up to ATH. The alt season will bring the big money to the market and BTC price has not reached the top level yet.

Altcoins will never follow BTC like they did back in 2017, you have my word for it. Of course some of them will surely go up together with BTC, but you'll never see shitcoins pumping like crazy cuz of BTC like the bullrun back in 2017. Solid projects will keep growing indeed, but having an "alt season"? Nah, don't think so. For reference you can check the charts of some coins which went up like crazy back in 2017 and as of today they're eating the dust with 0 movement at all.

^ Definitely right and the fact that ethereum did not have a fixed amount while bitcoin has a fixed cap in the market. There are too many differences between them. It is surely ethereum will never grow up like what bitcoin price did, it totally different if the coin is fully decentralized than the centralized one. Probably, no one will want to hold ethereum as payment but it is useful for those who run projects defi.

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Quote from: restuibu on November 19, 2020, 06:25:12 PM

We all know that the price of Ethereum will grow when bitcoin is growing, everyone knows what happened in 2017. When bitcoin hit the price of $17k - $18k then the ethereum price was already over $1k - $1.2k, but now when bitcoin price is $17k but the ethereum price is very difficult to break the $500 price, shouldn't ethereum current price should is $1k

Actually what happened to ethereum?

Mate thing is different now compared to the 2017-2018 Bullish period. Because the growing price of Bitcoin today is due to the institutional players/investors that pouring some capital into the market thats, why we can't, say that this price boom is just a bubble, Its the same as Ether actually Eth has already breached the $500 dollars price level today. I believe in December things might change in all top-ranking cryptocurrencies in the market If Bitcoin price continues to grow top altcoins will also grow next.

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