Why can't the current Ethereum price keep up with the Bitcoin price? - page 5.

nelson4lov

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

Actually what happened to ethereum?

In my opinion, Ethereum's price has been heavily hampered by its scalability issues which has plagued the network since the start of the year. On normal terms, Ethereum should be worth somewhere around $200 - $300 but the price growth to ~ $450 - $500 price levels is due to the fact that Ethereum 2.0 launch is imminent. Ethereum has experienced over 350% growth this year since touching the $134 low in the March 2020 crypto flash sales. That said, Ethereum is on par with bitcoin's growth but not much as in 2017.

Don't forget in 2017, Every avid Ethereum fanboy was garnering for the "flippenning" which didn't happen btw. It's different now.

prince V

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Quote from: mu_enrico on November 19, 2020, 11:38:40 PM

Just checked Coinmarketcap and found this circulating supply data:
* BTC: 18,548,487 BTC
* ETH: 113,498,999 ETH

I don't think ETH price will catch up with BTC price because of this reason alone. Not to mention other issues like scalability, centralization, and premine.

Yupz I think so, this is the main reason why eth prices cannot follow the current bitcoin price, unlike 3 years ago where the circulation of eth supply is still not as much as now.
This year will not be the same as 2017 for altcoins especially erc2 tokens, because indeed the current situation in the crypto world is not the same as what happened in 2017.

meanwords

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If you consider the current market of 2017 and 2020, there's just a huge difference. 2017 was the year of ICO which was under Ethereum so there's no doubt that Ethereum had a really great year alongside Bitcoin. If you look at the current situation, Bitcoin was hype not because of ICO, but because of different factors like Paypal, elections, stocks, etc, that greatly affects the investors to invest in Bitcoin alone.

KaratX

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It's not the right time for altcoins yet, ethereum is still at this level because of bitcoin, dominance is way up too so altcoins will only revaluate in few percentages, I suggest that this is still the best time to buy altcoins, this is an opportunity that won't last more than few weeks

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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 is okay right now. Ethereum just needs more time to increase, and now is the time for bitcoin to search for the high price first before the altcoin increases. Ethereum will increase at the right time, and maybe that will after bitcoin reach the next high target price, so you need to be patient. Maybe ethereum will have a chance to get $500 shortly and will increase to $1k soon.

The bitcoin price now seems to want to increase, and it already breaks $18k. It will soon break $18,500 and $19k, but we need to wait for more because the price will not jump to that price in a few hours unless there is a big pump coming at the market.

Tomiwa_akin

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It's what usually happen whenever there is a massive uptrend. Bitcoin always pump first to a certain level, it will remain stagnant for a while and then ETH and some others will gain their momentum and rise faster.

Debonaire217

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Although Ethereum price is not increasing like Bitcoin does and still not overstepping it, Ethereum is still a good investment. In fact, it is recommendable to invest in bot coins because bot of them have high value. Also both of them are the ons competing at the rate. Some might say its not worthy at all today nut Ethereum is still improving and expansing its capabilities to overstep bitcoin.

BIN-BIN

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The market force is what determine the price movement in 2017 we see almost all the cryptocurrencies in the market making remarkable gains in the market with their price raising and market volume constantly on the increase but in this present case only bitcoin is making the gains all other altcoins are just onlookers for now.

mu_enrico

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Just checked Coinmarketcap and found this circulating supply data:
* BTC: 18,548,487 BTC
* ETH: 113,498,999 ETH

I don't think ETH price will catch up with BTC price because of this reason alone. Not to mention other issues like scalability, centralization, and premine.

Skadi360

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Its not necessary that ethereum will follow the steps of bitcoin when it comes to pricing. Lots of factors differ like how forsage and uniswap projects rugpull made the ethereum fee sky rocket. This made the ethereum holders go to other altcoins and back to bitcoin which is more stable than ethereum this year. Well, ethereum will have its own time in the future just this timw its bitcoin.

cotton ball

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ethereum is no longer like it used to be, the price is very different nowadays many people buy because of a phenomenal ICO that can make a lot of pretty good profits but when an ICO scam appears everything has changed rarely anyone dares to buy an ICO because the high loss rate makes ethereum leave the holder they and people prefer bitcoin at this time because its value and price will surely strengthen over time.

coin-investor

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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?

We are in moving into a new scenario in the market, very much different from the previous market in the all-time high, Bitcoin dominance is pretty much higher compared before, because of the too many altcoins not delivering what they are expected to deliver, the spotlight is on Bitcoin, Ethereum is still good but scalability is one of the issues that hinder for many investors to more money in Ethereum, but let's see after they launch their new version.

Nalbo

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When people talk about crypto they talk about bitcoin. Bitcoin is considered a investment even in not techy community and traditional stock and commodity investors. The limited supply and relative safety makes bitcoin an attractive investment.
On the other hand Ethereum is just a work in progress. It has not still have it's final outlook and is ever changing.
The current price is driven by institutional buyers and they are just interested in bitcoin.

Eddyc

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The market has become more professional and Bitcoin marketing around the world has gained a lot of strength and for being a pioneer and many global influencers consider it as Digital Gold. Unfortunately Ethereum is not being influenced by so much advertising and it affects prices. In 2017, many investors were laymen and dreamed of a revolution in the financial system, which is why we found an increase in virtually all altcoins. In short, the world has changed and the game is different.

Beparanf

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Simply all eyes of the investors is interested on Bitcoin burll run right now unlike 2017 where the whole crypto is on hype. BTC is very bullish due to recent progress like PayPal and Biden which surely will give boost on BTC alone. ETH don't make any move right and the only news in there pipeline is the upcoming upgrade to there blockchain. During 2017, ETH hype due to tons of ICO that using ETH blockchain as well as there token to participate in different ICO.

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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?

Nothing really happened to Ethereum, it's still the second most popular coin in the market, and still the best choice for the smart contract, investors are on a wait and see now, but once they launch their 2.0 version things will be different, the price could go double, it's just Bitcoin dominance as it's highest making it the most preferred and had a big chunk of investors funds.

tbct_mt2

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Quote from: Yudhisthir on November 19, 2020, 08:30:28 PM

Ethereum is a utility token and it has not done much to decrease it's transaction fees and increase it's speed. Ethereum 2.0 could make the difference but at current moment, Ethereum's price increase would render Ethereum unusable. Bitcoin on the other hand does not have to be fast and cheap but still it's fees and speed are comparable to Ethereum.

Ethereum is a token. Did you actually spend a few minutes to search and find documents on Ethereum before you invested in the token Ethereum? Did you read its white paper?

Ethereum is a coin, an altcoin and has its blockchain. Its blockchain was used by many projects to run their projects on ERC-20 chain. Those projects are parasites on Ethereum network and they are tokens. Ethereum is not a token.

https://ethereum.org/en/whitepaper/

Quote

Ethereum
The intent of Ethereum is to create an alternative protocol for building decentralized applications, providing a different set of tradeoffs that we believe will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important. Ethereum does this by building what is essentially the ultimate abstract foundational layer: a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats and state transition functions. A bare-bones version of Namecoin can be written in two lines of code, and other protocols like currencies and reputation systems can be built in under twenty. Smart contracts, cryptographic "boxes" that contain value and only unlock it if certain conditions are met, can also be built on top of the platform, with vastly more power than that offered by Bitcoin scripting because of the added powers of Turing-completeness, value-awareness, blockchain-awareness and state.

Hallmader

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Funds are more focused in Bitcoin right now so it is understandable that Ethereum will not be able to keep up with Bitcoin's rise. But that doesn't mean there is something wrong with Ethereum. There isn't wrong with Ethereum. It is still the best altcoin there is and ETH 2.0 is still on its way. It's just that the large funds coming from institutional investors are choosing Bitcoin more than any other.

No need to worry about this though. Ethereum is still on its way to $1,000.

Yudhisthir

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Ethereum is a utility token and it has not done much to decrease it's transaction fees and increase it's speed. Ethereum 2.0 could make the difference but at current moment, Ethereum's price increase would render Ethereum unusable. Bitcoin on the other hand does not have to be fast and cheap but still it's fees and speed are comparable to Ethereum.

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

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2 possible reasons that I see with this.

1. Supply and Demand - We know that Ethereum hasn't any supply limit unlike Bitcoin. The supply of Ethereum at 2017 is obviously lower than what it is right now and add the fact that ICO hype has been there at the same year. The demand for Ethereum at that time is increasing because of the ICO's that are being created in the Ethereum Blockchain causing its price to rise.

2. Investors prefer to invest into Bitcoin rather than Ethereum - I think this is obvious already. People rather invest into Bitcoin because they see it more profitable compare to Ethereum.

Topic: Why can't the current Ethereum price keep up with the Bitcoin price? - page 5. (Read 1023 times)