The flippening, or when ETH exceeds BTC in dominance, aka flipping dominance, will happen on May 2023 according to this chart.
By charting the ratio of ETH dominance, ETH.d, to BTC dominance, BTC.d, the flippening occurs when the ratio exceeds 1.
ETH.d to BTC.d ratio has printed a cup and handle pattern on the higher time frame. This pattern's measured move, if the ratio breaks out of it, exceeds 1 meaning that ETH would have flipped BTC in dominance.
By projecting a rising channel from the handle, the intersection of the measured move is around May 2023.
At the moment it seems inconceivable that crypto will rise, but drops of 80% to 90% are common in alts in bear seasons, bull seasons will be in the multi Xs gains for alts.
BTC is facing many problems, the largest of which is energy consumption, currently turning a profit mining BTC is in the red as energy prices have risen and BTC price has dropped. Another problem is that BTC transaction time is exceedingly slow and BTC lacks smart contracts.
ETH merger has addressed the problem of energy consumption in mining and theoretically transaction fees which have been astronomical since ETH price has risen.
ETH technically is a better contender as a BTC replacement. Also, ETH holders from March 2019 covid dump have outperformed BTC holders. Microstrategy would have been in better shape if it held ETH.
In an old idea below, I predicted that ETH will reach the neckline of the cup and handle around 25% of the market cap.
By charting the ratio of ETH dominance, ETH.d, to BTC dominance, BTC.d, the flippening occurs when the ratio exceeds 1.
ETH.d to BTC.d ratio has printed a cup and handle pattern on the higher time frame. This pattern's measured move, if the ratio breaks out of it, exceeds 1 meaning that ETH would have flipped BTC in dominance.
By projecting a rising channel from the handle, the intersection of the measured move is around May 2023.
At the moment it seems inconceivable that crypto will rise, but drops of 80% to 90% are common in alts in bear seasons, bull seasons will be in the multi Xs gains for alts.
BTC is facing many problems, the largest of which is energy consumption, currently turning a profit mining BTC is in the red as energy prices have risen and BTC price has dropped. Another problem is that BTC transaction time is exceedingly slow and BTC lacks smart contracts.
ETH merger has addressed the problem of energy consumption in mining and theoretically transaction fees which have been astronomical since ETH price has risen.
ETH technically is a better contender as a BTC replacement. Also, ETH holders from March 2019 covid dump have outperformed BTC holders. Microstrategy would have been in better shape if it held ETH.
In an old idea below, I predicted that ETH will reach the neckline of the cup and handle around 25% of the market cap.
