The Flippining Continues! Ether Crash confirms it.

in #crypto8 years ago

Check out this article on cryptocoinsnews.com - I think it continues to confirm that the Flippining with Bitcoin and Ethereum will happen within the next 6 to 9 months.

https://www.cryptocoinsnews.com/daily-analysis-ethereum-shortage-sparks-downward-trend/

Here is a quote of the final paragraph - "Ethereum shortage sparks downward trend.
As more new digital currencies opt for the Ethereum platform when holding their initial coin offering (ICO), the cryptocurrency seems to be having some scaling problems. Yesterday’s Status ICO, which raised more than $100 million in Ethereum, caused a demand spike that some exchanges couldn’t handle, causing Ether prices to drop 15% momentarily. Since yesterday’s trading volume for ethereum was more than $1.5 billion, this sudden drop also affected other currencies, as 9 out of the top 10 registered losses." - Cryptoccoinsnews.com - June 23, 2017

Ethereum showing its first scaling issue, I would have assumed would have created more of a surge in demand and prices for bitcoin. As users would find ways out of the currency during its recent instability. But instead it shows the amount of strong hands holding Ethereum regardless of the issues which are sure to occur in the future. Although with the most recent dip in price for ETH the marketcap gap has increased from as little as 8 billion a few days ago, and has risen back to around 13 billion at the time of me writing this. I expect a steady increase over the next few months, with ultimately Ethereum taking over Bitcoins Marketcap within 6 to 9 months. At the latest 12 months. Dependent on bitcoins dealing with scaling and resolution of its own issues can vastly effect the timeline. I still believe it is only a matter of time before bitcoin is overtaken.

Don't get me wrong Bitcoin will continue to increase in value and could long term consistently hold a higher price per coin than Ethereum. I just think the number of ICOs, EEA members and overall growth of Ethereum is just too much to be held back. Bitcoin will always be the " Digital Gold" but there will be other digital commodities, coins, and tokens that will ultimately rival bitcoin and possibly a hold larger market cap and command a higher price per coin.

I would love to hear what everyone thinks in. But ultimately only time will tell.

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Hi, thank you for sharing, I'm following you ^^