This is the other scenario. As I said, people buy ethereum with bitcoins, ethereum is in a parabollic movement and for sure a bubble. Ethereum will grow until bitcoin cannot go lower. That might be the pink line (historical minimum) in the chart, but also because we have a pennant, it might breakout in the same direction as the initial large movement and reach the 640 usd dolars.
Comments
nepaldude41
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I"m not sure about that. There are lots of things Ethereum does that bitcoin doesn't do. That's why it's called crypto 2.0. So We'll see
JorgeAbascal
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Even so, any market needs to be developed. Its the same with Bitcoin vs USD... for sure Bitcoin solves things that the fiat money doesn't but the market needs to be developed. Right now ETH is speculative,which is great, you can make a lot of money from it... but for sure there will be a correction, or now or at 0.05 or at 0.1 (probably not higher than that), presure is growing at the same path as Ethereum price.
JorgeAbascal
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And remember: Ripple was also called crypto 2.0 I made 10 bitcoins from that speculation for free.
JorgeAbascal
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@nepaldude41, I wonder if you escaped the ETH trap on time (Press play on this chart and zoom out) I just failed in the timeframe