The market starts to make a sudden 180 degree switch.
August first, Bitcoin Core (Segwit) Vs BU (2MB blocks) is going to happen.
UASF can get Segwit activated. Something Vitalik fears. He's trying to say that UASF brings all down sides from a softfork and hardfork. But he just doesn't mention the AsicBOOST scandle, Jihan Wu monopoly.
How bad 2MB blocks are on a technical side. Bitcoin not activating Segwit would be in Vitalik own interest.
Assuming he is smarter than us and knows Segwit would bring Bitcoin to new all time highs and makes Ethereum go down again and lose a couple of millions from the marketcap.
You made similar chart about XRP some time ago which was very accurate, so I'm with you on this one. But what if Segwit won't activate? Is hardfork possible?
oshin11
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TA on a pair of two highly volatile assets plotted against each other is highly unreliable. Better off with a comparison of each paired with fiat. There's also quite a bit of fundamental points fueling this charts movement. For example, the ethereum alliance announcements and upcoming bitcoin fork. I think ethereum will correct, but in the long run it will outperform bitcoin.
If you haven't noticed the last two days has been one party literally devouring all the ethereum from all the exchanges in a very predictable pattern. I presume this one party is either an investment fund, a fund with a group of bitcoin whales that want to get out before the fork happens, or enterprise moving in. There is no denying that this one algorithm bot literally ate over 100 million dollars of eth over the weekend. Bears that dumped into it during the slow methodical rise from 260 to 300 got spanked hard. Not it's going in the other direction pumping bitcoin and dumping a little eth so that everyone panic sells into its buy walls placed all over the order book.
Yes, eth will correct. Yes, it will surpass bitcoin due to fundamentally being better and more evolved. Yes it will reach new highs at a slower rate after this bubble. However, I don't know about some of the delusions of it become a worldwide currency or hitting 10000 USD price levels.
fortunekr
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@oshin11, Isn't it sad that the this pre-mined, inflationary, centralised, corporate token appears to be taking over? I mean, the whole point of crypto in general was supposed to be some hope for the little guy to escape the vice grip of the banksters and their minions (politicians et al). If ETH really does take the no 1 crown Im going to sell ALL my cryptos in protest and just move into physical silver.
gatorNic
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@fortunekr, lol. The price of silver being one of the most highly manipulated commodities out there? quite the protest. ;)
GreaterNinja
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I think your fundamental analysis is a bit wack. Ethereum simply displays better properties and resilience for business use. My theory is Ethereum is taking a 4 hour leg down, then another 4 hr leg back up to a new ath. If you look at the 4 hour candles it touched a new, new high and has not retested yet. Further more as far as fundamentals, there is the blockchain conference I believe on the 14th and new EEA members on 14th. I suspect it will rise to .14-.15
fineregex
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@PooSlingingFoo, cool tradeview account. How many have you got? bitcoin's github got contributions by 400 people while ethereum just saw below 90 and is less active now. Mining ethereum costs are still below $20
GreaterNinja
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@fineregex, Its pathetic of you to try and qualify your tradingview account stats with me. Maybe I'm actually someone big in both Bitcoin and Ethereum markets. Ethereum has several branches with far more than 90 contributors and tens or even hundreds of thousands of commits. Your fundamental analysis is highly inaccurate and posts more of your feelings and speculation rather than a comprehensive list of upcoming events on both markets.
fineregex
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@PooSlingingFoo, sorry im not comparing us:) but your account simply has a lot in common with trolls.
everyone is free to have a look at github. If you did you saw bitcoin numbers are much more relevant still. I was comparing the core blockchainsnot forks and third projects but i bet bitcoin sees more activity there too.
GreaterNinja
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@fineregex, Hey you are the one posting misinformation. There is a thing called client diversity. cpp-ethereum, py-ethereum, goethereum, parity. These nodes make up the core of ethereum. Bitcoin has basically just Bitcoin-core. In total, ethereum has more innovation, commits, etc. You should do your research before you start blowing stuff out your ass. Seriously man, your numbers were fake and your statements are totally false.
fineregex
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@PooSlingingFoo, there are different bitcoin clients too... so what