That was a EPIC Whale(s) ...ETH flipping view
Somebody literally sold ALL their BTC into ETH then cashed out at the top.
4 billion doll hairs.
This is the wild west boys and girls. Hang on.
The Flipping will be when people believe ETH will surpass BTC market cap immensely.
There are two views to the Flipping that may occur soon.
First strong view - the BTC segwit ordeal on AUG 1 is creating unease in the community. At the same time ETH is breaking new grounds. Many of the worlds smart wealthy investors are now seeing the potential in ethereum. This all being said people believe that ETH will surpass BTC market cap and leave it in the dust.
Second view - People believe that BTC is the original, holy and monotonous coin. Which serves one simple purpose of trading value peer to peer without a 3rd party. And it works in that respect. Given this view many people believe BTC will go to the moon. There is a counter argument that I've heard to this, "Well BTC may be the original, but the innovation and technical marvel itself is block chain ."
I have no idea what will happen but I do believe that BTC will always hold great solid value that we all can rely on someday. But I do believe more practical coins will be surpassing BTC. Who knows. Just hang on guys. Only time will tell what really is going to happen. I mean the technology is still in infant stages. Who knows if any of these coins will be around in 30 years...
Im watching ETH closely, made a few buck selling and buying in the dips, but didn't expect this big of dip. I expect in a few hour its 390 at least...But thats me:)
nice post..
peace
I do not care which coin wins but think this while idea of flipping is nonsense. Price is just a number and both tokens represent something entirely else.
thank you for your thoughts. I apologize that I did not fully construct my ideas in this post. I edited and updated the 2nd view point. I really think it is important to understand everyone's opinion and views on matters pertaining to crypto coins. The market is based hugely on human emotion. Of course you should always hold strong to your beliefs but that isn't to say you shouldn't pay attention what's going on outside your box. The flipping is hype based nonesense and I agree with you on that. Accepting that a huge amount of population is going to enter this space with little trading knowledge is reality. Combining some basic knowledge of what's going on emotionally, then doing your technical analysis and stops will greatly improve your trading.