Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High

[maydna]

I am pretty sure that all the wait for the bitcoin halving craze wasn't for today, that can't happen this quickly, I know it has been a few months and people have been expecting a rise because of that reason, however that is not logical to think like that because halving is not something that changes prices instantly, it is a long term thing. Think of it like lower inflation, it is a good thing, with lower inflation your money keeps its value longer, but it is not one time quick change, it is a long term years thing.

Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.

If you analysis the bitcoin and altcoin market is moving good after the bitcoin halving. There will be moments when there will be some correction but overall the market trend is positive. By the end of 2021, we shall be see all time high of both bitcoins and altcoins.

I see that since this year, the bitcoin and altcoin market slowly making the right movements, and it prove from the increasing of the bitcoin and altcoin price. No matter if the price is up and down, and sometimes down deeper, but the price will be back to the high price. Perhaps, what you say will become true at the end of the next year, but I hope that bitcoin will pass more than $15k by the end of this year. If that can happen, we might get another best moment to sell bitcoin at the new ATH after waiting for a long time.

[gabbie2010]

Recent price drop is an excellent opportunity to get some ethereum. This could be your last chance. I dont think that is a drop down. Probably a long waited correction (market can not just grow all the time). I dont call to buy now, but placing smart buy orders will be wise.

I believed ETH had already dipped or dropped down at $318+ those who bought at that zone are now profitable indeed a great buying opportunity at that zone presently the price stood at $366 maybe heading to $407+ as the next resistance, the pumping had already commenced any pullback or correction again means another buying opportunity had unveil itself although the movement of ETH is subject to the performance of Bitcoin in the market if BTC pumps well ETH will also experience growth.

[jostorres]

Honestly I love eth but I do not understand people who think it will go above bitcoin at the same time neither. Why are you considering success depending on something elses failure? What if bitcoin drops so much that ethereum has a shot at going above it? Would that be good? I believe that wouldn't be good at all, it would in fact be very very bad for the crypto world, which means we should want ethereum to stay at second while both eth and btc going up x10 if they can, that would be awesome.

Instead of wanting to pass bitcoin, ethereum holders should want both btc and eth to go as high as possible to not only make them profit but also make everyone else profit. This ETH 2.0 will probably happen around when halving will be a year old, so I guess they can both go very high next May or June.

[Silberman]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

[stomachgrowls]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

People do see this market of course as an investment and profit making is the main priority in spite of lacking knowledge on how market works.They do only realize when they do lost their investment just because they
do let theirselves fall into the hype.

Im not really minding that much when it comes to dominance of other coins or alts because in the end of the line they would just be accumulating btc and do leave the alt market once again.

The market normally had flipping moment.We might see it is high for today and the situation is different on tomorrow and the cycle repeats.

[Jating]

That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.

The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.

So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.

[Silberman]

The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.

I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.

So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.

I do not have a problem with that scenario, personally I do not like bubbles because the effects on the market are massive and it affects not only bad coins but good coins as well, but at the same time I understand this is inevitable, people are always trying to find the next big thing in the market that they believe somehow will replace bitcoin not understanding that those dreams are for the most part impossible to realize as the majority of transactions involving a real exchange of products and services involve bitcoin and no other coin.

[Ayiranorea]

Bitcoin has crossed $11500, and now it seems to fluctuate within a minor margin. The growth continues, together is the growth of ethereum. When it comes to ethereum, it stands next to bitcoin in terms of dominance level. Both are highly expected assets for the year 2021. From the DEFI projects data 98% of the assets transactions of DEFI tokens were through the ethereum network. This itself keeps the network towards growth, because most people have stated the future is much connected to DEFI.