Bitcoin <---> Ethereum Tug-of-War
Recent action would suggest this market being heavily influenced by traders and institutional players shifting funds between Bitcoin and Ethereum causing spikes in one while the other stays still.
Observe when Bitcoin was ~$2500 and Ethereum in the $240 area. Bitcoin surged to new all time highs while Ethereum was left twiddling its thumbs...
The last few days the same can be said about Ethereum... it had a violent move to new all time highs breaking the $400 barrier while Bitcoin's move was less spectacular and even dipped...
I sense this may be the way things will shake out for some time... perhaps until Bitcoin sorts out its scaling issues. Folks are having a hard time which pony to ride off with into the sunset... so taking turns until there is a decided preference. Both will do well but the FOMO is intense!
I find this interesting and am doing my best to learn about the two. We also just dabbled abit in both with some small purchases of each. I hear though and read about how eth. could eventually ,maybe by the end of this year, be worth as much or more than BTC. Lots of that speculation here and other places? I understand that BTC processing takes too long and that eth. does not and essentially they are the same thing except for this? What else am I missing and do I have this correct?
Ethereum could be worth more in terms of market capitalization as there are more than 4x the number of Ethereum versus Bitcoin... this is just a matter of time. Whether the price per Ethereum will exceed the price per Bitcoin is perhaps a more longer term speculation. I expect Bitcoin will sort out a way forward in the coming months to address the scaling problems and open the door to other possible features. This may once again bring mindshare back to Bitcoin....
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