Alt ratios ALWAYS go back to and below their initial BTC value. ETH as an Alt will in the long term fall below 0.01 BTC value where it initially started at. Looking back at all most successful Alts:- LTC started at 0.03 BTC in early 2013. It pumped andI am scared dumped and currently sits at 0.001- XRP started at 5594 sats in 2013. It pumped and dumped and currently sits at 959 sats- XMR started at 0.003 in 2014. It pumped and dumped and currently sits at 0.003- ETH started at 0.01 in 2015. It's pumped to 0.15 and dumped to a current value of 0.04 which is still 4X higher than its initial valueAlts CANNOT attract capital on their own. ETH as an Alt only appreciates and attracts capital after money flows into BTC and flows out seeking more profit. Historically money flows from BTC to ETH and other Alts after it starts topping out and/or gets stuck at a local top. Look at the spring to summer 2017, then December 2017 and January 2018. Look at 2021, BTC tops around March 2021 and ETH reaches BTC high in ratio and USD around May. BTC tops around October 2021 and ETH reaches BTChigh in ratio and USD around December. ETH does not attract capital and move on its on. Like Alts, it gets capital flow from BTC or gets capital as a 2nd order crypto as BTC attracts capital to the space when it goes on a run.BTC will continue to appreciate ever more slowly as it matures as an asset and just like with every other Altcoin ETH will not be able to keep up. BTC's narrative and use is much more compelling than ETHs. There is no greater proof of this that the:-$500 Million in net inflows in the ETH ETFvs+$17.6 BILLION in net inflows in the BTC ETF
>>58974002yes, the bitcoins very good coins saarrr, sell the ethereumz coins saaar, I AM TOTALLY NOT BUYING ANY, I AND MY VILLAGE PROMISE!
>>58974002You're stuck in 2015. Bitcoin is actually the coin that's along for the ride now and maxis have been too arrogant to realise this.The alts that popped up with the 2013/14 hype all traded against BTC, sure, but now even layer 1 alts mostly trade against stable coins. And the money coming in to buy shitcoins is going through ETH mostly and to a lesser extent other chains like Solana and BNB. Fiat goes directly to these chains unlike ten years ago when bitcoin monopolised fiat on ramps. All the tokens on these chains are part of what has become a massive industry: ponzis. Bitcoin fully embraced this trend and has ridden the wave as the OG and biggest ponzi of them all.Bitcoin's abandonment of it's original mission in favour of chasing the ponzi trend has left the only genuine use case for crypto wide open for Monero to take over. Real world BTC adoption has been going backwards since 2017 when many companies, for example, Steam dropped it. It's also well known that Monero has taken over the DNMs, where BTC found its original use case. Monero is no longer an "alt" coin, it is actually THE coin. You can see the transition around 2020 where prior to that XMR was amplifying the ups and downs of BTC like most coins in this market do. Since then XMR/BTC has traded inverse USD/BTC and Monero has been relatively very stable in dollars.So you are totally wrong. Shitcoins created most of the interest in crypto and BTC is just a part of the shitcoin ponzi market now. Yes, whales swing between BTC and the rest of the shitcoins cyclically - that's how the ponzi games are played. XMR is it's own thing now. Comparing it's BTC price is not about comparing how it's going in the ponzi horse race like for other coins, it's more an indicator of the real world adoption of cryptocurrency vs ponzis.
>>58974358This is not my opinion. Someone has been fudding ETH on ethfinance on plebbit and its got me scared that ETH is going to continue to lose value against BTC
>reddit Everyone there is a dumbass fuck those stupid ass faggots.
>>58974002You can look at charts for how long you want, but none of these numbers and imaginary trends fucking matter if we are going into a global recession, buddy.Even China going into a recession alone might make Bitcoin dump out of the ever weakening 4-year cycle pattern
>>58974804>You can look at charts for how long you want, but none of these numbers and imaginary trends fucking matter You could have just stopped here
>>58974002Not legit IMO. BTC is just BTC, a fixed unit of account and hedge against fiat. ETH's value proposition is DeFi and its integration into the global financial system, which is still in its beginning stages. Midwits are all calling for ETH to die on account of the price action since 2022, but I see the opposite happening longterm, desu. In the next bull phase we'll see ETH supply deflate and the price will pump, causing the sentiment to reverse. As crosschain interoperability crystalizes, ETH will benefit the most since private chains are overwhelmingly EVM-based so will obviously use ETH itself to interoperate. BTC will go up because the dollar is going down; ETH will go up because it's a core component of the future financial system. Sneed.
>>58974853The problem is that ETH bulls do not explain what will drive demand for this asset.You're doing the same thing as every ETH bull, you use Ethereum the platform and ETH the asset interchangeably. But the reason ETH has been doing poorly is that there aren't many strong drivers of demand for ETH. L2s are freeloading transactions. A lot of DeFi uses stablecoins instead of ETH. Things like ICOs are gone.You think you're entitled to ETH price growth just because Ethereum is a solid platform, but there still needs to be some mechanism that causes ETH demand.ICOs and the DeFi summer pumped ETH hard because people had to buy ETH to participate (including transaction fees). ICOs are dead and DeFi is nowhere near as hyped and also probably uses stablecoins more. What's next to pump ETH demand? It's possible that something new comes along, but it isn't there right now.
>>58975377Obviously there is a demand implied on the ETH asset when the ETH network is used. You're conveniently omitting the fact that L2s need L1 ETH to commit their transactions to the network since that's how rollups work. Is it more efficient now than in 2021? Yes, so we shouldn't see gas prices as absurd as they were in the past, but this allows for much higher transaction volume, which itself increases demand. Combine this with the deflationary aspect (or at least low inflation) of the tokenomics and we should see price increase. I don't know how much, but it will be up and not down.
>>58975377Using stablecoins doesn't negate using ETH, since ETH is still needed to commit transactions. You're right that the real source of demand isn't there yet. It will come from private banking chains interoperating with each other through the public ETH network IMO. In 2 more weeks of course.
>>58974002>>58974791I'd just like to interject for a moment to remind you that Reddit and Plebbit are in fact two different and opposite things.
Can someone just tell me if ETH will hit 8k during this bull cycle? That's what I need to become a fucking millionaire, please tell me it's possible
>>58974002So tell me why ETH should keep going up in price now? All the transactions were offloaded to layer 2s because ETH can’t scale. Its burn mechanism depends on high txs to remove how many ETH are circulating. Since the merge it has been sitting at about half the inflation rate of BTC. I genuinely don’t believe ETH will last, going to PoS caused it to lose its first mover advantage and may actually get flipped by something else. (Probably Sol because (((they))) really like it).So I’ll ask again where is the incentive for ETH to go up? I’m not trying to fud I’m genuinely asking.
>>58975423This. I hold Eth and Link and I will be a millionaire, in about a fortnight.
>>58975525If you took 5 seconds to google a chart of the ETH supply, you'd see that it has flatlined since the merge and even gone deflationary for a time during the bear market. Combined with the law of supply and demand, you should be able to figure out what's going to happen to the price, if you aren't a midwit that is.
this is retardedeth is up 62x vs BTC from icohttps://coincodex.com/ico/ethereum/
Bitcoin is Unironically the only thing keeping Centralized Exchanges alive. Tether being bitcoins life support (x3 more volume then BTC daily) isnt a meme its real. CEX are subsidizing Bitcoin and suppressing Alternatives to CEX (Paying Tron to Depeg WBTC and making it look like an accident, it goes very very deep) because it is in their best interest to do so. Once you discover the truth you can use their manipulation against them and i have nearly tippled my ETH stack with impermanent gains on WBTC/ETH uniswap postions which print more ETH every time BTC outpreforms ETH. Now thats the power of DEFI, i deposit my crypto and provide the DEX with liquidity and I receive nearly all the trading fees. Meanwhile in CEX I deposit my crypto, giving the exchange liquidity but receive none of the trading fees. Then i have to film a tiktok if i withdraw too much (if withdrawals are not "under maintenance").
>>58975728> eth is up 62x vs BTC from icoFucking cope. That's like saying BTC is up 70,000,000% since 2010. SOL is up 70,000% since early 2020. When shit has a tiny marketcap they can go up huge. Since ETH became a big cap in mid 2017 it is -70% against BTC.
We broke through to 0.03998 on Binance, congrats everyone.It seems the proper ratio now would be more like 0.02, where ETH can sit for a while until it finds a new narrative and use cases.It will take a while to get there.
If DeFi wasn't such trash then alts might've actually gotten a season this cycle. Shitcoiners praising tps and use cases for memecoins lack self awareness.
>>58974002ETH has more stablecoins in it than ever before, the ratio of capital on top of eth vs eth value is lower than ever, i think it's very undervalued.But money skelly and the eth gang has always done upgrades at the worse time ever.
>>58974853Midwits love eth and sol
>>58974002this nigger looks like a crack head.
>>58978179Midwits are bitfuck maxis and soltrannies.
>>58974002ETH had its chance to build its own money flow but blew it by going nothing at stake
>>58978323ETHshit quite literally brings nothing better to the table than SOLshit.
>>58974002If you can’t hodl, quit crypto, Anon. I’m still holding old bags and got some new gems like Natix and Auki in my portfolio. I’m holding long-term.
>>58974042I’m not selling and will use Drive& to scoop more crypto just by driving and using my phone as a dashcam.
>>58977368How low is this ratio going to go before we recover?
>>58975716not if theres no demand
>>58974002they're nonexistent unless you were a whale before buying btc in which case, you wouldn't even be posting on this board anyway, if you're not gambling on shitcoins or farming unicorn.meme you're not making money on crypto right now and all the rest is glowniggy and mumu cope
