Soon Ethereum will pass the market cap of Bitcoin... (( Price predictions also ))
Over the last month we have witnessed a surge of Ethereum's price AND it's volume.
Yesterday was the 1st time that Ethereum's 24hr dollar volume exceeded Bitcoin's volume and I believe this will occur more & more often in the coming weeks & months. There are many solid & substantial reasons why Ethereum will become more & more dominate.
Over the last 7 days, Ethereum's price has been relatively stable & moving incrementally higher from it's initial pullback. Bitcoin and most of the other alt coins have been in the negative. Now many would say this is a natural pullback for the cryptos and this is true. However, there are inherent weaknesses of Bitcoin that are being openly revealed since this last months incredible upward surge in price. Bitcoin can only do 3 transactions per second and many global exchanges are still attempting to reconcile many of their transactions. Ethereum is 10 times faster at 30 transactions per second, so there is much less of a "bottle-neck" problem & backlog of transactions.
Bitcoin's transaction fees are now making micro payments much more costly & unlikely to occur. So Bitcoin is migrating towards becoming primarily a good store of value, while Ethereum & a number of alt coins will be creating functionality in areas where Bitcoin has inherent weakness or no functionality at all.
Soon more global exchanges will offer a much wider range of altcoins that can be directly purchased with Ethereum, not just Bitcoin. Again this will continue to weaken the once dominate Powerhouse of Bitcoin.
With the Ethereum's announcement of Metropolis coming sometime in mid July to August it certainly appears that Ethereum will move higher in price, daily volume & popularity.
Another significant plus for Ethereum is the United Nations has embraced Ethereum and this could have untold world-wide benefits, acceptance & currency exchange for the Ethereum platform.
By July, Ethereum should be trading between $400 to $800... and possibly much higher because more & more people around the world are waking up to the cryptocurrency markets... AND because of the ever-looming threat of a Global Meltdown within the traditional/conventional financial markets.
We are watching & witnessing the ever quickening evolution of the cryptocurrency world and the pace & rate of this change/paradigm shift is increasing everyday.
Thank You for reading and please comment with Your opinions and constructive criticism...
(( Quick note: I'm 14 days new and realize there is a minor error on the image below, however I can share over 35 years of experience working with a number of the Fortune 100 within the US Treasury Bond markets.))
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Cheers !!
A year ago I would have said never but I believe you are correct in this. Those BTC fees can be a killer, not for the wealthy but us little guys are really having to be careful how much we move some BTC around and when and when not to make a purchase with it. Sucks they really screwed the pooch on letting the fees get so out of hand. ETH is not my favorite due to some of the banks involved with it, JP Morgan scares the bAJesus out of me lol but lets face it, if they are doing it right they are simply going to take over. BTC and Segwit needs to be settled, the games back and forth have to cease or its a done deal.
Really great post, following you to see what else you come up with
@sflaherty Thank You and I essentially agree with all of Your comments.
The global Central Banking System has incrementally been undermining Bitcoin and many of the alt coins over the last 7-8 years. Even Ethereum has been compromised...
The "Dark Side", the Central Bankers are NOT willing to give up and they are using a simple technique in almost every aspect of a person's life... EVERYWHERE on the planet... The technique is called "DIVIDE & CONQUER" and goes back much further than just the Roman Empire.
Please continue to let me know what You thnk...
Thank You @sflaherty... UpVoted Your comment & am Following You. Thanks Again !!
Always great to meet someone in this here that gets it. I am with you 100%, here for the movement vs the money..well money helps but seriously about getting the right cryptos off the ground that will begin the process of empowering the individual like it should have always been. Its a game they play and a very seriously dangerous one for humanity...hopefully we will get it right but BTC needs to grow a pair if its ever going to do its job the way it was meant to be done. Really honored to have your follow, I am definitely with plans to keep tabs on what you write up, have a few great conversations along the way.
@sflaherty Thank You for Your kind comments...
This is the 1st time I've ever let my strong feelings out in a post or in my comments.
It was your insightful comments that prompted/catalyzed and brought out my passion & the 35 yrs experience in the traditional/conventional banking system... which represents the old paradigm.
We are already well into the New Paradigm... we just need to use some "every day" common sense and stay grounded.
Thanks again for Your comments, they really helped me get out my thoughts & passions much easier.
Have a Great Week... ALL=ways...
That is awesome and I am glad to know you come from the old ways and seeing the light about the new ways. I believe firmly that once long ago the system was for the better of everyone but something along the way has gotten lost and why we have this huge opportunity right now to correct the path we have fallen short from following. I am with you completely in how you feel so I am proud to know i helped in a small way for you to express your views. I believe that is the power of the Steemit community, we all have a voice and we should use it whenever possible. Definitely glad we met, more of us gather together and work for the better of the future the easier it will get.
Thank you for providing this insight. This is definitely a good read!!!
Interesting article. Good to see I'm not the only one who thinks like this. How much do we actually know about a coin. It's surprising to me people invest in cryptos that they know nothing about. Does anyone know about: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check for example: https://www.coincheckup.com/coins/Ethereum#analysis To check Ethereum Investment research report.
Thank you for good information.
@redbanana Thank You for your acknowledgement... Have a Great Week !!
let the battle begin :-)
@floridanow Hey Florida... Good to see You !! and Thank You !!
all good my friend....all good
I also think that for small transactions the ETH is better but let's not forget that almost no one accept ETH ...it will take a while for it to arrive to the popularity of BTC
I like both currencies and I own both ETH as BTC and i hope that both prosper :)
@yacov Thank You for Your comments and I agree with You for the moment.
However, ETH is not fully integrated yet... So many coins, including ETH, MUST be traded back into Bitcoin TO CONDUCT & TRANSACT business into the rapid emerging alt coin markets or other types of transactions.
Again, the "proof is in the pudding"... Bitcoin's dominance of total global market cap has dropped from about 85% three months ago, to it's current 45.3% of the total global market cap today.
(( Please see this link --->> http://coinmarketcap.com ))
THIS is rapidly changing (( globally )) right before our eyes, as I write this reply to You.
Just within the last few days Ethereum has been added to Huobi & OKCoin Exchanges while ETC was just added to the BTCC exchange... Please see the graph below:
Thanks Again for Your comments. Have a Great Week !!
Thanks for the excellent info. I was surprised that the Bitcoin network is so slow at 3 transactions per second and ETH at 30 per second. Just to put this in perspective, Visa can process 24,000 transactions a second!!!
So someone like Visa or Master card could wipe the floor with all current Cryptos and offer people everything they need, with the exception of privacy and the security that a lack of central control & governance creates.
Looks like all Cryptos will need to develop larger transaction capacity or be relegated to the status of a boutique product in the future. This is a huge opportunity for a currency to dominate in the long term, as transaction speed and security will speed adoption and acceptance.
The Central banks have been watching Bitcoin and other currencies for quite sometime. I used to think that they would use their power to crush alternative Currencies through their corrupt practices and government force, however, they are letting the systems run, so as to gain experience and identify weaknesses they can exploit.
Perhaps the "Free" Market will kill off the Cryptocurrencies.
Alternatively, the Chinese Government could just make Bitcoin the official Crypocurrency of China and require all miners to register and pay taxes to them. Since 72% of all miners are inside China, they could steal the infrastructure easily through force or by simply cutting off their electricity, most of which Chinese miners get for little or no cost.
Mandating a hard fork would leave the majority of Bitcoins behind the Great Firewall of China.
@clearshado Excellent & insightful comments... Aug. 1st will be very interesting for Bitcoin...
Thank You and Hope You had a Great Weekend !!
Hi - let me invite you to ethereum 2020 community based price estimation
https://steemit.com/ethereum/@digitalplayer/ethereum-price-prediction-2020
@digitalplayer Thank You for the Heads-Up and the web link...
Have a Great Weekend !!
Have a Nice Weekend @sacred-agent
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