Ethereum: Countdown To The 'Flippening'
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Summary: Ethereum's market cap may soon surpass Bitcoin in a milestone termed "the flippening".
Ethereum has many fundamental catalysts for upside.
The resolution of Bitcoin's scaling issues will boost the overall market while the booming market for ICOs will boost demand for Ethereum.
Just as retail investors were getting used to the idea of Bitcoin (Pending:COIN), another mysterious cryptocurrency has blasted onto the investment radar: Ethereum - and the fundamental case for investing in Ethereum looks strong for the remainder of June 2017.
Bitcoin currently trades for around $2,600 per coin on U.S exchanges while Ethereum trades for $360 per coin. In terms of market cap, the two coins are coming closer and closer to parity. Many believe this will signify Ethereum's "overtaking" of Bitcoin as the primary cryptocurrency via something called the "flippening".
It is unclear what the so-called flippening will mean in terms of Ethereum's price movement. But Ethereum's fundamental catalysts for upside are strong. The cryptocurrency will benefit from both the resolution of Bitcoin's scaling controversy (the two assets are highly correlated) and the launch of several new Initial Coin Offerings in the coming week.
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To share my thoughts about ETH, I will say that is a promising coin and platform. But I think that many people has bought at those high prices, hoping that this a 'final stage' programming platform.
It has many advantages, but the actual price is sustained by the ICOs that are traded using ethereum, and people is not aware the main change they are awaiting that could turn red lights on, the change from proof of work to proof of stake...
So while it gets more clear I would stay and wait...