ETH price soaring. Are you going to move some BTC into ETH?

[hector3115]

Bears need to capitulate on ETH and join the party before it's too late. 

Believe it or not, it is still way undervalued. 

[1714511446]

1714511446

[1714511446]

1714511446

[1714511446]

1714511446

[Sark]

Bears need to capitulate on ETH and join the party before it's too late. 

Me thinks that most of the "bears" are alt bagholders who are not actually trading the currency but just sitting on the sidelines hoping that money stops flowing into ETH.

[yefi]

I must say, I'm impressed. Assuming this isn't a double-top, this could get crazy now.

[mtnsaa]

I'm still here, remember me? I got in and hold below 90k...while many said it was the worst bubble ever and were FUDing all they could. There's still time to get in, ETH hasn't even hit mainstream news yet. It will hit 0.02 sooner or later and it will continue to go up (not without some bumps in the road of course as we already saw). Even BTC hasn't hit mainstream for that matter but that's another story.

[helloeverybody]

Ive got to say im a bit gutted i never bought in at the lower prices but that was never going to happen anyway. the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

[coinyard]

I'm still here, remember me? I got in and hold below 90k...while many said it was the worst bubble ever and were FUDing all they could. There's still time to get in, ETH hasn't even hit mainstream news yet. It will hit 0.02 sooner or later and it will continue to go up (not without some bumps in the road of course as we already saw). Even BTC hasn't hit mainstream for that matter but that's another story.

There are not many reports about bitcoin even though it is $7 now and the market cap is over $500m.

[toknormal]

the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

Given that...

[1] - Ether probably caught the last bus on major contenders

[2] - It's almost un-contested in its space

[3] - Its developer and promotional base now has bucket loads of money and growing

[4] - It has yet to go on any of the big-3 Chinese exchanges which now seems only a matter of time given the trading volume it has on current "poxy" exchanges

[5] - It's probably about to get a mainstream media/BBC/WSJ splash along the lines of "New Contender Gives Bitcoin a Run for Its Money"

[6] - Hundreds of media pundits have been saying for years that they think that "Cryptocurrencies are the future but bitoin's not the one" and that this is probably their last chance to save face

[7] - This is the leading edge of the "Fill Your Car up Using Smart Contracts Base on the Ethereum Network" type news surprises rather than the trailing edge

[8] - Litecoin reached the same ratio of Bitcoin's marketcap that Ethereum has now - except with only 1 developer


... I'd say that a conservative justifiable valuation might be, say 15% of Bitoin's marketcap for a start, wouldn't you ? (At least not unreasonably)

That's still a doubling from here.

[helloeverybody]

the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

Given that...

[1] - Ether probably caught the last bus on major contenders

[2] - It's almost un-contested in its space

[3] - Its developer and promotional base now has bucket loads of money and growing

[4] - It has yet to go on any of the big-3 Chinese exchanges which now seems only a matter of time given the trading volume it has on current "poxy" exchanges

[5] - It's probably about to get a mainstream media/BBC/WSJ splash along the lines of "New Contender Gives Bitcoin a Run for Its Money"

[6] - Hundreds of media pundits have been saying for years that they think that "Cryptocurrencies are the future but bitoin's not the one" and that this is probably their last chance to save face

[7] - This is the leading edge of the "Fill Your Car up Using Smart Contracts Base on the Ethereum Network" type news surprises rather than the trailing edge

[8] - Lightcoin reached the same ratio of Bitcoin's marketcap that Ethereum has now - except with only 1 developer


... I'd say that a conservative justifiable valuation might be, say 15% of Bitoin's marketcap for a start, wouldn't you ? (At least not unreasonably)

That's still a doubling from here.

I think a lot of people have bought into ether after seeing the recent price hikes and hoping it does the same thing bitcoin did when it jumped but since ether is not a contender for bitcoin i cant see much of a rise as viable. For me id rather see bitcoins development continuing and fixing what needs fixed rather than jumping ship.

[Egenen]

If Ethereum is listed in the big Chinese exchanges, the price could go to $20 or $30 or even higher. The Chinese got a lot of money.

[Sark]

since ether is not a contender for bitcoin i cant see much of a rise as viable.

The long term viability of the price will depend on how successful the DApps turn out to be. The ones out there now are very simple, but they are functional and show a lot of promise. The price now is obviously highly speculative, but could be fairly easy to justify if some of the DApps take off in a big way. The other big obstacle for the price is how well the network will scale - which could present a limiting factor even with very successful DApps.

[toknormal]

ether is not a contender for bitcoin

That doesn't mean it can't exceed its marketcap.

Companies are being started all the time that are "not a contender for bitcoin" that will still exceed its marketcap. It's in a different sector - the "Bitcoin 2.0".

At the same time, you could of course be right. I took your view when we were at 0.009. I got a total bruising trying to exit the market during the last profit-take phase. Ended up having to throw in the towel and buy back in - luckily I was still awake at 2:00am in the morning when it took off again.

Then, favouring your side, is Adam Back who says that "blockchain-app" coins are not as valuable as "bearer coins" because the apps can move anywhere and leave the coins behind. Despite that, I think that if they're on that network then the marketcap of the whole "blockchain-app" eco-system is likely to manifest itself in the coin valuation.

It's the Wild West. We cannot tell how things are going to go. I've made up my mind that 15% of BTC cap is a reasonable interim milestone for me. Everyone has to make up their own mind.

Just hedge a bit here and a bit there and we'll all be able to afford a few jollies at the end of the road whichever way it goes

*** EDIT ***

Look ! It's already going ballistic just since I wrote that post. Seems the fear and greed factor is strong in this market right now and everyone is now sh*t scared of "missing out". FOMO as it's affectionately known. Hope it works out for folks.

Shorters caught with their pants down in Poloniex margin-trading-land. I know the feeling  

[mtnsaa]

Ive got to say im a bit gutted i never bought in at the lower prices but that was never going to happen anyway. the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

Dude, are you aware that this is the same exact quotes I've been fed when I got in at 80-90k? I know many people bought ETH at 20k but that doesn't make mine "expensive" now doesn't it? I do agree we don't know how high this is going to go, but a similar scenario could've taken place when BTC was around $20-30 or more, no way people bought BTC at $100 you would say. Well they did and now it's 4 times that price. I remind you that Bitcoin never actually got adopted, there are very few bitcoiners still, if it was massively distributed the price would be close to 10k or more...

Ethereum has that huge potential if it actually gets used by companies and dapps are developed. I'm not saying that an Ether will cost $100, $1000 or more, but if it really becomes a new standard for companies, banks, institutions and app developers, then 72 millions of Ethers is absolutely nothing.

[stoat]

Ive got to say im a bit gutted i never bought in at the lower prices but that was never going to happen anyway. the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

Dude, are you aware that this is the same exact quotes I've been fed when I got in at 80-90k? I know many people bought ETH at 20k but that doesn't make mine "expensive" now doesn't it? I do agree we don't know how high this is going to go, but a similar scenario could've taken place when BTC was around $20-30 or more, no way people bought BTC at $100 you would say. Well they did and now it's 4 times that price. I remind you that Bitcoin never actually got adopted, there are very few bitcoiners still, if it was massively distributed the price would be close to 10k or more...

Ethereum has that huge potential if it actually gets used by companies and dapps are developed. I'm not saying that an Ether will cost $100, $1000 or more, but if it really becomes a new standard for companies, banks, institutions and app developers, then 72 millions of Ethers is absolutely nothing.

Yet you are advertising the LISK scam in your sig.  Anything for a bit of small change right?

[yefi]

I'm still here, remember me? I got in and hold below 90k...while many said it was the worst bubble ever and were FUDing all they could. There's still time to get in, ETH hasn't even hit mainstream news yet. It will hit 0.02 sooner or later and it will continue to go up (not without some bumps in the road of course as we already saw). Even BTC hasn't hit mainstream for that matter but that's another story.

Oh, this is a bubble, and it'll come crashing back down eventually just like Bitcoin's frothy adventures. But for now, enjoy the sun of the highlands.

[mtnsaa]

Ive got to say im a bit gutted i never bought in at the lower prices but that was never going to happen anyway. the price its at now it hard to see it going much higher so i cant really see many more people buying in. you never know, i could be wrong but i ceetainly wont be buying in at current prices just to get dumped on.

Dude, are you aware that this is the same exact quotes I've been fed when I got in at 80-90k? I know many people bought ETH at 20k but that doesn't make mine "expensive" now doesn't it? I do agree we don't know how high this is going to go, but a similar scenario could've taken place when BTC was around $20-30 or more, no way people bought BTC at $100 you would say. Well they did and now it's 4 times that price. I remind you that Bitcoin never actually got adopted, there are very few bitcoiners still, if it was massively distributed the price would be close to 10k or more...

Ethereum has that huge potential if it actually gets used by companies and dapps are developed. I'm not saying that an Ether will cost $100, $1000 or more, but if it really becomes a new standard for companies, banks, institutions and app developers, then 72 millions of Ethers is absolutely nothing.

Yet you are advertising the LISK scam in your sig.  Anything for a bit of small change right?

I don't know much about LISK, but I don't understand the scam accusations really. Yes I do signature campaigns and I say it very proudly, I was doing $100 a month with my last one but it's paused now. I'm from a third world country and that's a lot, especially if you want to invest long term in Bitcoin and Ethereum for example, it can be worth even more in the next months, so don't judge.

Please tell me more about what you know about Lisk, hope you are not fudding, I'll definitely remove it if that's the case, I'm serious.

[mtnsaa]

I'm still here, remember me? I got in and hold below 90k...while many said it was the worst bubble ever and were FUDing all they could. There's still time to get in, ETH hasn't even hit mainstream news yet. It will hit 0.02 sooner or later and it will continue to go up (not without some bumps in the road of course as we already saw). Even BTC hasn't hit mainstream for that matter but that's another story.

Oh, this is a bubble, and it'll come crashing back down eventually just like Bitcoin's frothy adventures. But for now, enjoy the sun of the highlands.

Don't worry, I'm old enough to not be too naive, this can all crash down in the next days or weeks but I already made some money if that was the case. It can also go $30 before it drops too. For me it could be a bubble but it's based on real interest. There's true interest in Ethereum and anyone can see that if you research it. How much exactly is it worth? Well we don't know, we don't even know if Bitcoin is cheap right now or it is in some sort of bubble already.

[Sark]

It feels like ETH is a hedge against BTC right now. When BTC has bad news, money rotates into ETH, then as it subsides, money rotates back out. This is what pushed the last big spike, and it seems like this started again today after the BTC network hit capacity.

This is atypical of most alt coins where the more "successful" ones rode on the BTC coattails. Ethereum is running as a counter.

Long term, I don't think it matters so much. Ethereum will live and die by the usefullness of the DApps on its network. That is what the long term hloders like me are betting on.

Short term, these swings are being driven by BTC drama. If BTC were to completely drop the ball, this would have a significant impact on Ethereum, but I don't think that is very likely. They will get their shit together eventually even if they have to shoot themselves in the foot a couple times first. Even so though, the money rotating in and out of Ethereum is providing good liquidity and driving a lot of new exposure.

[mtnsaa]

It feels like ETH is a hedge against BTC right now. When BTC has bad news, money rotates into ETH, then as it subsides, money rotates back out. This is what pushed the last big spike, and it seems like this started again today after the BTC network hit capacity.

This is atypical of most alt coins where the more "successful" ones rode on the BTC coattails. Ethereum is running as a counter.

Long term, I don't think it matters so much. Ethereum will live and die by the usefullness of the DApps on its network. That is what the long term hloders like me are betting on.

Short term, these swings are being driven by BTC drama. If BTC were to completely drop the ball, this would have a significant impact on Ethereum, but I don't think that is very likely. They will get their shit together eventually even if they have to shoot themselves in the foot a couple times first. Even so though, the money rotating in and out of Ethereum is providing good liquidity and driving a lot of new exposure.

I think both we as Bitcoiners and the developers are starting to realize that Bitcoin will never be a proper payment system that will get adopted massively. But that doesn't mean it won't have success as a storage of wealth for many people. It's definitely something very special to have digital money stored without middle men and it has proven it works. The problem is that it just can't handle real life transactions like credit cards for example. And don't get me started on usability, it's a complete hassle to get, use and sell, what's the point? But as digital gold it's amazing and could have a very bright future.

ETH on the other hand is doing its first steps with a clean name (this is not minor, BTC is tainted for many big players) and nods from big companies. The sky is truly the limit but as with everything new one should be cautious since there will be a lot of setbacks.

[NUFCrichard]

I am very tempted to try to ride this bubble, even though I know it is dangerous.
It could easily fall 70% in the next day or 2, but the price could also double.

I am not usually one for trying to turn a quick trade, but I might give it a go here..

[OgNasty]

I've been doing the opposite.  Mining ETH and converting to BTC.  Whoever is pumping this is bringing back the days of profitable GPU mining for BTC.