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-Watch For double Bottom or broken support
-If support holds and makes a double bottom , watch for upward and sideways movement starting to form a cup and handle .
-If support broken, next defensive support @ 100 range
18 million every year ETH Minted every year.
ETH Current:
Market cap 16 Bn
Supply: 109 Mn
Price: 150ish
Market cap would have to increase by 2.7 Bn a year to remain same price due to output and no ETH cap.
That's equivalent to roughly 13.5 Bn 5 years
Which would make market cap 29.5 Bn in 5 years if price traded sideways.
Personally, I see ETH trading relatively sideways and breaking away from bitcoin in the long term. Investors like bitcoin because of the cap and if were being honest, Ethereum is seeing more competition and it may have a use case, but as an investment, you're simply investing in "fees" on the Etherium network.
-If support holds and makes a double bottom , watch for upward and sideways movement starting to form a cup and handle .
-If support broken, next defensive support @ 100 range
18 million every year ETH Minted every year.
ETH Current:
Market cap 16 Bn
Supply: 109 Mn
Price: 150ish
Market cap would have to increase by 2.7 Bn a year to remain same price due to output and no ETH cap.
That's equivalent to roughly 13.5 Bn 5 years
Which would make market cap 29.5 Bn in 5 years if price traded sideways.
Personally, I see ETH trading relatively sideways and breaking away from bitcoin in the long term. Investors like bitcoin because of the cap and if were being honest, Ethereum is seeing more competition and it may have a use case, but as an investment, you're simply investing in "fees" on the Etherium network.
