Hello!
Everybody is noticing that the ETHBTC ratio is falling. In fact, it has been falling in Summer of 2022 without any significant comeback. Don't worry, it's normal. At the beginnings of bull markets Bitcoin outperforms. It happened every cycle. The question is, when this ratio will change the direction upwards? When Ethereum is going to outperform Bitcoin?
That's the point. Almost all of the Bitcoin maxis say that it will never recover, that the market has finally realized that the only important asset is Bitcoin and all other cryptocurrencies are scams. Well, I love Bitcoin, but I don't agree for several reasons.
First of all, let's say that Bitcoin is the only true digital decentralized asset. The Bitcoin maxi thesis is true. Well, retail doesn't care. They will gamble their live savings into shitcoins until they all go to zero. Retail will flow to altcoins like a tsunami. The market will be flooded of new capital and some of them will not go to Bitcoin. In fact, the dumb money will all be flowing to altcoins and specially memecoins.
So, my point is, altcoins will at some point of the bull market outperform Bitcoin. And the ratio ETH/BTC will switch upwards. And here we are, we will be able to get rewarded for hodling altcoins. Specially Hive.
I'm happy if it doesn't happen either, because I hodl Bitcoin, but I would love to have HIVE at the price we deserve, which is above 1$.
Enjoy the ride, and remember that this is not financial advice.
Have a great weekend!
Posted Using InLeo Alpha
