ETH looking like it might start being a buy vs BTC
This chart illustrates the dangers of ALTs vs BTC. Now, I personally consider ETH a semi-alt. This also illustrates the dangers of having an extreme view when looking at the market. About a month an a half ago, I noticed the amount of posts on twitter, the ideas on tradingview having an extremely lopsided view of ETH vs. BTC. "ETH gonna flip BTC," or "ETH gonna be worth 10,000 BTC," or whatever "extremist" rhetoric you wanna toss out there. Anyone sold all their BTC for ETH to follow these ideas and views now has to recon with the fact that you have lost a significant amount of performance in the last month or month an a half depending. That being said, if you do gamble, ETH might now be a buy vs BTC. I might but only a little bit. Also this, have a core position on both, and you'll probably do well in the long run. Don't fall for tribalism or "extremist views."
In January I started a small AMM (automatic market maker) with one of the exchanges I use, to take care of this nonsense for me. I risk a small amount of BTC vs ETH and just leave it. I think they are both valuable and I think they will for the most part always be in play against each other to a small degree. So I make money on the chop. That being said, during the run up I sold about an ETH and a half into BTC to offset this risk from the AMM because I had a feeling that we would be going through a serious period of BTC growth vs. ETH. Again, now might be a good time to start considering converting a bit. Still haven't decided, perhaps tomorrow. What is better than trading and getting rekt...look to harvest some yield on your assets rather than gambling.
Market tops and bottoms are littered with the corpses of extremists.
In January I started a small AMM (automatic market maker) with one of the exchanges I use, to take care of this nonsense for me. I risk a small amount of BTC vs ETH and just leave it. I think they are both valuable and I think they will for the most part always be in play against each other to a small degree. So I make money on the chop. That being said, during the run up I sold about an ETH and a half into BTC to offset this risk from the AMM because I had a feeling that we would be going through a serious period of BTC growth vs. ETH. Again, now might be a good time to start considering converting a bit. Still haven't decided, perhaps tomorrow. What is better than trading and getting rekt...look to harvest some yield on your assets rather than gambling.
Market tops and bottoms are littered with the corpses of extremists.