Elliott Wave theory says the top of the 5th wave will often form a trend line with the 1st and 3rd waves.
If the current uptrend continues for even a few more weeks, it's heading to around .5 (not .05, .5, i.e., POINT FIVE). That would put ETH's cap at about 2.8 times that of Bitcoin sometime in mid-to-late April.
It seems ridiculous, but I know I'm not the only one who went from storing majority of holdings in BTC to ETH this year. There's a reason why big banks and other companies are getting behind Ethereum. Suddenly their previous HF shows leadership compared to Bitcoins inability to shift gears. People want change. No matter how early or first mover you are, if you get there and stagnate - you die.
CryptoCoinNomad
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I've been looking at a cyclical pattern for BTC which suggests it's heading back towards $500... so actually, a price of $200-$250 does seem reasonable for ETH, and is a target which I recall being mentioned often last year.
I've learnt to listen to what the technical analysis tells me... no matter how outlandish it's predictions might be today... because it looks into the future and ignores the daily turbulence which affects our better judgements.
n0xTrader
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@CryptoCoinNomad, Fundamentally price for eth should be 1-10$ considering inflation and other factors, considering speculation and hype - we might end up this bubble on 100$ imo.
Ri6aVms7
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@n0xTrader, just curious why fundamentally you think should price be so low?
n0xTrader
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@Ri6aVms7, Very ridiculous inflation, mostly. Then unsolved scaleability issue, not sure if you are aware but most of Etheruem nodes is running without verifying blockchain backwards.
Ri6aVms7
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@n0xTrader, sounds kind of innovative. I'll have to look more into it. Got to hand it to Ethereum however for doing things differently. 4.5b market cap is no joke. And to win over so many bitcoin enthusiast who were haters before is serious sign of potential shift coming.
n0xTrader
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@Ri6aVms7, I do not believe Ethereum will ever beat Bitcoin. Bitcoin is doing just fine. It's well tested, best code base. We sure indeed need to face block size hardfork or activating segwit. But it's not big problem. It's not first hard fork at bitcoin, we have few in past fixing some major issues. Ethereum except robbery hard fork, had few other in past. Normal Harforks without overwriting blockchain data are fine. Bitcoin core developers are demonising it force their solution (LN).
Ethereum is great in terms of developing applications, even Vitalik said once that ether is not money, but fuel for contracts - that's why there is so ridiculous inflation.
However it have lots of problems, each ethereum network node needs to process each application, each contract, each transaction. Which makes it poorly scaleable solution, problems are just getting started.
n0xTrader
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@n0xTrader, And i haven't saw any solution on that from Vitalik or Eth team.