Ethereum’s Trading Volumes Fall To Its Lowest Level In Months
The second biggest digital currency has been having some quite months, giving the stage to bitcoin while holding tightly that $300 price line.
It has sort of moved up and sort of moved down, but wherever it goes, it returns back to the Spartans, clinging to that 300. We’re no experts in tea leafs, but that looks like a huge triangle. So no wonder its volumes only keep going down, standing today at just $260 million. Barely 10% of bitcoin’s trading volumes.
Article: http://ethereumworldnews.com/ethereums-trading-volumes-fall-lowest-level-months/
I agree, but I wouldn't expect Ethereum to plummet in the long term or even the mid term just because of that. The diverse uses of Ethereum beyond just store of value and money transfer are so immensely greater than Bitcoin.
I think Bitcoin has got the spotlight now mainly because most people in the world are only now beginning to figure out what the hell Bitcoin is. Many people own it and still don't know what it is. Only a handful of people have ever even heard about Ethereum, and even less people understand it, but I think it's got much greater potential in general. Bitcoin still has major potential, but is facing a lot of problems and isn't all that useful as a method of payment compared to other cryptos because of the slowness of the network and high fees. Unless it can solve its huge fees and scaling issues, I think Bitcoin will be little more than a store of value for most people who hold a lot, and little more than a payment system to move money around internationally for those who need to get money across borders fast.
The number of ICOs that are launching on the Ethereum network these days is just staggering:
https://www.tokendata.io/upcoming
If Ethereum does go down a lot, I think it will be a fantastic buy opportunity!