Ethereum's path to becoming an equivalent to BTC, shown in one chart
This year we've seen an incredible rising new star, Ethereum, as if by sudden chance appearing on the stage with the big celebrities. Although it's been around for quite a while, only recently has everyone started to take notice of it. And with very good reason too, as this one chart simply shows BTC's slow degeneration (even though the price seems to be steadily going up each month)..
What is shown above is basically BTC's combined market capitalization (for cryptocurrencies), which is at 39% currently. This figure is down from where it was in February, at 87%.. That's an astonishing price shift! What's causing all this movement? Take a peek at that purple graph underneath the BTC line. That's Ethereum, moving slowly but surely up from the xx range to now the x,xxx prices.
Some people predict it'll hit $540 and stabilize around there, others are shouting it'll go straight to the moon and it'll beat gold as well. Personally, I still believe it'll continue to rise but I'm guessing it'll have to halt around the $500 range. At least for a while. It's been an incredible rise from the $89 it was at just over a month ago. Now approaching $400!
In order for Ethereum and Bitcoin to continue their incline up towards the sky, they'll have to get government acceptance. At least by more countries, and Japan + Russia's involvement has certainly accounted for the rates going up over the past few weeks.
What do you personally think is the ceiling? Is this all a giant bubble right now? I mean.. look at the market caps people.. this is tens of billions of dollars we're talking about here! CRAZINESS!
Links:
http://www.marketwatch.com/story/how-cryptocurrency-ethereum-looks-set-to-overtake-bitcoin-in-one-chart-2017-06-14
https://thefinanser.com
https://www.youtube.com/c/AVILSD
This is gonna be a great ride for those holding ethereum!
Exactly! I'm excited to sell my XRP and get more ETH ;) (and steem of course baby!) Finally XRP is going up a bit.. oh boy
I really enjoyed WhalePanda's article on ETH posted yesterday: https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36
That was a great article, and anyone who is investing in and around Ethereum should read it.
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Projections for crypto in general is higher. Trend is upward. But man, ETH is almost 400$. For me, this ship has sailed.