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14876088 No.14876088 [Reply] [Original]

ETH is at its lowest ratio against BTC that I've ever personally witnessed since entering the market a few years ago. I know there are a lot of factors beyond TA that affect its value. Psychologically, I would speculate that top alts are more tied to bitcoin's movement and do not function as hedges against bitcoin. I would say there are two distinct groups of projects in this space: the blue chip, high-cap projects viewed as equivalent to BTC as stores of value, which are generally older projects and on one hand are viewed as sure things with lower but more reliable long term rewards. The other group is riskier, lower cap alts that are used as hedges against the first group and are what benefit most from "alt season" when BTC dominance gets too high and people take profits.

People just aren't throwing their money into ETH and top 10 coins when they sell BTC; it seems like there's a lot more enthusiasm among traders in smaller cap alts which can do backflips when BTC money pours into them. In fact it seem like the higher ranked alts are tied to bitcoin because they are, like BTC, where money goes when people sell alts as alt season concludes. And this is not just a psychological phenomenon, it's mathematical. The higher cap an alt, the less exciting it is as a next hurrah when you're selling your BTC after a rally and are looking for the next thing that will pump; buying action in high-cap alts just doesn't produce the same rallies and rewards as pumping lower cap projects.

It seems like the alts in the top 10 are weakly following BTC and not recovering much ground against king shitcoin. What do people think about the near-to-mid term prospects of ETH? What factors might drive it up or down?

>> No.14876137

eth 2.0

enough said

>> No.14876377

>>14876088
ETH ratio is an easy 4x from here but it is highly manipulated so you must buy and wait to capture it

>> No.14876390
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14876390

there's some fud about eth having infinite supply, when it's projected inflation rate is lower than bitcoins

we basically have to wait 6 months for pos before people realize how good eth is compared to btc

if I've learned one thing from crypto it's that the market is as inefficient as humanly possible when it comes to pricing things in

>> No.14876595

>>14876390
people in general are slow as hell at realizing technical advances, see how long its taken people to catch onto bitcoin

>> No.14876623

Hate ETH? heard of moon3d? 10x or 100x your crypto (any) EZ

>> No.14876958
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14876958

>>14876088
>What do people think about the near-to-mid term prospects of ETH? What factors might drive it up or down?

I think the ratio might be in the spring of a Wyckoff accumulation this year (pic related). We might still do a sudden steep drop down to clear longs and inflict maximum pain before shooting upwards though. I wouldnt leverage trade this with over 2x margin.
- CME has been finally mentioning ETH this year now and again. It just recently changed reference rate of ETH. Most likely in preparation of futures. Futures announcement would be a massive ETH approval in the eyes of institutions.
- Might sound crazy, but check out SkyWeaver. Just a cardgame that has cards as ERC1155 tokens, but this is legit. This thing seems like an actual serious game, not just a chink Hearthstone ripoff with a blockchain gimmick like Gods Unchained. Still in closed beta and almost no one knows about the game yet. Check out the reveal trailer and how little views that still has. They are not advertising it yet. They are going to try to launch during fall already though. That means the gamer world will probably hear about it within 1-2 months, when open beta gets popular. Hearthstone and Magic both have massive player bases that are looking for a new card game, think 100 million. Even if this fails, minimum 20 mil people will suddenly hear the name, Ethereum. They will focus on cards being traded with mostly DAI. Official marketplace will be use 0x protocol. So MKR and ZRX will benefit from this as also if it goes well.


Long term, I am a Bitcoin minimalist. I literally think Bitcoin will start to fade away once another congestion event begins. Go compare the average Bitcoin fee history and alt season dates. Alt seasons literally have only happened up until now, when Bitcoin mempool has started to fill up. It is on its way there again and there is no solution in sight this time. It will come suddenly one week. Ethereum will capture a some of the out-flowing money.

>> No.14877101

Itll moon once BTC goes into full bubble mode. It happens with alts every time. I'm not too concerned about the current ratio.

>> No.14877227

>>14876958
damn...

>> No.14877334

>>14876088
5k by 2025

>> No.14877782

>>14876958
LN works. There will never be another congestion event

>> No.14878172

>>14876958

thanks for the thoughtful response. I am not incredibly knowledgeable about CME futures. You're right that it's absolutely important for institutional recognition of ETH but don't we already have that in the number of cloud services poised to support ETH use? Like AWS?

Moreover, aren't there a lot of people on here arguing that CME bitcoin futures--- because they're settled in BTC--- effectively work to prevent BTC being a hedge against the US dollar and more effectively drive the price down? Isn't it possible ETH futures, if that's what you're hinting at, would do a lot of damage to the ETH price for the foreseeable future? Please note I'm truly looking for your opinion here as I'm still don't fully understand how futures work and why settling them in BTC has harmed the BTC price.