Just read an article on Quora saying how Ethereum is the thing to own, over Bitcoin and that it should explode 10x by the end of the year.
Where is the all crypto market headed?
Months ago, when Bitcoin was at $60,000 and everybody was dreaming about $100,000 Bitcoin, I’ve already warned multiple times that with transaction fees this high, it doesn’t look so bullish and we could see a significant correction down and that it’s important to have stop losses in place.
Then, I said to rather invest in memecoins and well…it all happened like I predicted.
Established altcoins crashed by 80% and more while memecoins were the only coins that gave returns and many gave unbelievable returns of 10,000%.
Everyone that followed my advice made it through this bear crash very successfully and also had the chance to make much more money with memecoins than established altcoins. However, unfortunately many didn’t follow my advice and then complained about memecoins making so much money so quickly. This bull run really makes people irrational.
During these 2 last months bear cycle, we have been going back and forth in this $30,000-$42,500 channel.
The next resistance we have to break is $36,829.
Once that is broken, we have to break $42,500.
When will this happen?
In July or August, these will be huge months for crypto with all the improvements that are coming to Ethereum. Then, we can possibly also see Bitcoin $100,000 and a 10x for Ethereum.
However, Bitcoin probably won’t go much higher than that this year, because Ethereum will take over and replace Bitcoin as the number 1. Why?
Because Bitcoin’s fundamentals have been weakening every month.
It failed to break into mainstream and its image will always be tainted by its massive, unnecessary energy use. Sure, miners can spruce up renewable use, but that’s also another misleading narrative, because if Bitcoin weren’t that wasteful, the renewable energy that it needs could be used to replace fossil fuels.
It’s simply really easy to criticize Bitcoin. Its outdated technology, very wasteful energy use, terrible scalability and security simply makes it easy to find a lot of real issues.
That’s what prevents Bitcoin from going mainstream. It can grab the attention of libertarians and get people excited, but it flames out at the end, because it can’t grab the attention of corporate CEOs, millennials and Gen Z, because they highly value environmental protection. Bitcoin’s technology simply can’t keep up with its promises.
At the same time, much better solutions have come out. They don’t have any adoption, but there is one that has. Ethereum. It also has a lot more adoption than Bitcoin already and many more things that I will explain in-detail soon.
Also, you can’t really find any criticism in Ethereum. Its network is bussin, outpacing Bitcoin in every way with 10x more transactions than Bitcoin (!).
The ecosystem is growing like a wildfire with DeFi, NFTs, Memecoins and the next trend will not keep waiting for long.
We are currently going back and forth in the $30,000 to $42,500 channel, but we will break this channel in July/August, mostly thanks to Ethereum.
Bitcoin is becoming more and more irrelevant and almost no one is using it anymore, it just serves as a peg for altcoin trading and that status is declining more and more by the day as well.
It has been tested if it is fit for mainstream and it did not pass the test.
Other, much more viable candidates are already eating away at Bitcoin.
It is possible that Bitcoin will briefly recover some Bitcoin dominance, but it will be quite hard for it to take away much from Ethereum.
After July, I don’t see any chance for Bitcoin to outperform Ethereum anymore. At that point, Ethereum has simply become vastly more powerful and capable for Bitcoin to do anything.
#1 Writer on Cryptocurrencies worldwide - Updated July 5th