Huge investment into BTC = Price ^^^^^^^

[kashish948]

So ETH is finally in deep shit

24 hour volume is crossing 100M and people are still selling like crazy! I suspect at least half of this money will flow into BTC and future investors have just 1 real choice now - BTC!

The price is going to explode in a few days as ETH dies!

[BTCLovingDude]

i couldn't agree more.
i have seen this once more before but in a smaller scale. i remember the last time eth got dumped there was a lot of money flying into bitcoin.

this time is no different and the amount of money is so much bigger, eth has already gone down ~40% which is a new dump record.

also DAO is being dumped as hard (~-65%), although it is much smaller market but still is a big dump

[BillyBobZorton]

Yup, not only that, but all the DAO marketcap will also flow on BTC. I also doubt anyone would want to be in other "smart contract coins" like LSK right now.

[Ibian]

Most people don't understand basic economic theory. Win for us.

[Vaccinus]

if half of the marketcap will go to bitcoin, that is just 500 million in to bitcoin, tiny thing, 500 million are only 1/24 of marketcap of bitcoin so a 4% increase, so $800 in value

[Ibian]

Not how it works.

[killerjoegreece]

i couldn't agree more.
i have seen this once more before but in a smaller scale. i remember the last time eth got dumped there was a lot of money flying into bitcoin.

this time is no different and the amount of money is so much bigger, eth has already gone down ~40% which is a new dump record.

also DAO is being dumped as hard (~-65%), although it is much smaller market but still is a big dump

the amount of dumping is insane. people just want out of this dumb contract thingie

[kashish948]

Already starting! lol

[bajing]

I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. they would try to make eth price rise again because i see some people still trust to buy eth even the rumours said eth got hack.

[kashish948]

I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. they would try to make eth price rise again because i see some people still trust to buy eth even the rumours said eth got hack.

ETH is down 30% today already! Where do you think all that money is going to go? Not all, but a major portion will go into BTC.

[asrilani]

I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. I honestly would not be convinced by eth price reduction will have an impact on the price bitcoin rise. they would try to make eth price rise again because i see some people still trust to buy eth even the rumours said eth got hack.

ETH is down 30% today already! Where do you think all that money is going to go? Not all, but a major portion will go into BTC.

You noticed a little bump on Btc price as ETH was being dumped
Pretty much direct effect

[WaffleMaster]

The thing is people that have bought into ETH most likely had to buy into it with Bitcoin. So they were already in Bitcoin but just had a different asset that is tied to it. Maybe people want to desperately get out of crypto after this catastrophic failure that is ETH and DAO so they put their money back into Bitcoin and just dump the coins. Which is not good obviously.

[Vohladio]

So ETH is finally in deep shit

24 hour volume is crossing 100M and people are still selling like crazy! I suspect at least half of this money will flow into BTC and future investors have just 1 real choice now - BTC!

The price is going to explode in a few days as ETH dies!

ETH is not necessarly dying.  In fact, right now may not be a bad time to buy some.  TheDAO is finished, but ETH probably isn't.

[justspare]

Well that is good for most people on this forum and it is really good for me. I sold all my ETH ages ago and invested on Bitcoin. The price is kind of stuck at $750 now though. I hope that it can push over the $800 barrier.