A Word Of Caution For Ethereum ETH/BTC
Updated
Great spot for a very small speculation entry.
Normally when price consolidates like this it is a balance between the demand / supply in the open market, problem is once it sways to one direction it will be violent.
I still see the possibility that BTC hitting a supply shock to over $140,000 will destroy this pair harder than what happen with LTC/BTC.
(note) Ethereum can still rise in price during this but if you don't price it in BTC you can't navigate if the value gain is flowing in from the top of the market or bottom.
I wish this chart would do something. . . .
Most of the volume from ETH is getting sucked into Solana because it does work faster, this has always been the problem with ETH for me is that it can easily be replaced, people want fast stable coin transfers regardless of the blockchain.
But in the future if someone provides something better than Solana for USDT / USDC transfers, SOL again will be the victim of this trend.
LTC early on for those who don't know was used as a proxy to transfer value exchange to exchange to trade BTC IMO it was the stable coin of the early days.
Note
ETH/BTC was wicked below
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