Bitcoin, Ethereum and the next bear market
As we all know, the market doesn’t like when Bitcoin and other Proof of Work crypto’s environmental impact come to mainstream attention.
When Elon tweeted about BTC environmental impact in May, we witnessed a -48% legdown in 5 days.
(snip)
According to this chart from my colleague Zen, we are at the end of the 4-year bear-bull cycle.
https://www.tradingview.com/chart/BTCUSD/2rt98NjE-BTC-cycles/
This chart was drawn by WiseAnalyze on Trading View in Dec ’19.
(snip)
I think that the best projects, Ethereum in front of all, will start outperforming BTC during the following years, probably creating new lows into the BTC dominance chart despite the bear market.
One little thing supports my view. It’s already almost one year since coinmarketcap added Ethereum dominance to their homepage.
If you like this content you might want to read the full story with no snips on Medium is here
When Elon tweeted about BTC environmental impact in May, we witnessed a -48% legdown in 5 days.
(snip)
According to this chart from my colleague Zen, we are at the end of the 4-year bear-bull cycle.
https://www.tradingview.com/chart/BTCUSD/2rt98NjE-BTC-cycles/
This chart was drawn by WiseAnalyze on Trading View in Dec ’19.
(snip)
I think that the best projects, Ethereum in front of all, will start outperforming BTC during the following years, probably creating new lows into the BTC dominance chart despite the bear market.
One little thing supports my view. It’s already almost one year since coinmarketcap added Ethereum dominance to their homepage.
If you like this content you might want to read the full story with no snips on Medium is here
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