BITCOIN SINCE INCEPTION vs ETHEREUM SINCE INCEPTION
I believe Ethereum can soar a bit more, but it is about to touch the top of the channel, so I believe this bubble will pop soon. Maybe it will reach 0.22 btc, but It is obvious for me that it needs a correction.
Another sign of the "Ethereum bubble" is that every Ethereum Maximalist (I love calling them this) really believe ETH is going to replace BTC, the same way that Bitcoin Evangelists thought that BTC was going to replace Fiat back in 2011 (and again in 2013). This means we're in the "New Paradigm!" phase.
Ask yourself where does the demand of ETH come from, is it because of the state of the art of Ethereum or because of the I.C.O. bubble. IMHO I think what is driving this madness is the demand for I.C.O. tokens. But soon, a whale that has nothing to do with these people will cash out (Just because ETH is overheated), and these people will start panic selling in order to fund their projects. This will be the burst of this ETH bubble (the second one), and will drag Bitcoin price down. If you check the timing, you will see that BTC is about to reach a resistance just in time. The red dashed line is placed when prices will reach their corresponding resistances.
Will this be the end of ETH? Probably not. And I will buy ETH whenever the price drops to the bottom. I don't really know when this event is going to happen but remember... last bubble bursted when a whale named Lord Vitalik sold 25% of his eths. :)
Anyway, here you have my chart of the whole history of both coins and you can Zoom in and take your conclusions.
Happy tradding!!!
Another sign of the "Ethereum bubble" is that every Ethereum Maximalist (I love calling them this) really believe ETH is going to replace BTC, the same way that Bitcoin Evangelists thought that BTC was going to replace Fiat back in 2011 (and again in 2013). This means we're in the "New Paradigm!" phase.
Ask yourself where does the demand of ETH come from, is it because of the state of the art of Ethereum or because of the I.C.O. bubble. IMHO I think what is driving this madness is the demand for I.C.O. tokens. But soon, a whale that has nothing to do with these people will cash out (Just because ETH is overheated), and these people will start panic selling in order to fund their projects. This will be the burst of this ETH bubble (the second one), and will drag Bitcoin price down. If you check the timing, you will see that BTC is about to reach a resistance just in time. The red dashed line is placed when prices will reach their corresponding resistances.
Will this be the end of ETH? Probably not. And I will buy ETH whenever the price drops to the bottom. I don't really know when this event is going to happen but remember... last bubble bursted when a whale named Lord Vitalik sold 25% of his eths. :)
Anyway, here you have my chart of the whole history of both coins and you can Zoom in and take your conclusions.
Happy tradding!!!
