Bitcoin dump, Ethereum pump!

[Kemarit]

JP Morgan/Jamie Dimon only wants to buy all of those cheap bitcoins that will listen to his advice.

If they're even accumulating for the past years and stopping calling what they've used to call bitcoin then people shouldn't listen and just keep their bitcoins.

Just keep it and if someone wants to buy ethereum, buy it with your money and don't dump bitcoins for it.

I'm not going to be surprised if JP Morgan is buying in this dip again, that's why Jamie Dimon resurfaces and claim that he doesn't own Bitcoin and create another FUD. But behind our backs, his son is into BTC. Total contradictory of father-son as regards to their investment.

In any case there is no shift of investors fund, when Bitcoin dumps everyone bleeds and that case still remain up to this moment. The fact that Bitcoin is the prime mover in this market already says it all.

[Poker Player]

Although from here we call altcoins "shitcoins", I think it is clear that some will survive alongside Bitcoin and succeed. Even if we don't like it, I think one will be Ethereum, because of the massive and growing adoption it is having.

This is not a defense of Ethereum on my part, I do not have Ethereum and I think I will never buy even to diversify for an ideological question: I do not like neither the centralization nor its 70% premining.

[marine4u]

I don't think bitcoin will drop dominance. This dump lately is because of the news from China and bitcoin will always be the worst hit as investors will immediately dump bitcoin and go for the second highest in cryptocurrency which is bitcoin because of the experience of 2017 that altcoins rose after bitcoin started dropping. Investors have been expecting the altcoin run since 2020 when bitcoin bull was highest do far and they expecting this to happen with altcoins for huge cash but unfortunately, bitcoin is recovering again.

China has been doing that for a decade as it worries bitcoin will become a pivotal point in the global financial and trade war.  If everyone understands and is smart about this FUD will know what to do with bitcoin.  If they decide to break with bitcoin, their influence will dwindle over time over their standing in the world.
While Wallstressbets launched a subreddit dedicated to bitcoin and crypto, things are turning against China as a result.

[ajqjjj]

Thank you for sharing this Rolf.
Possibly that could be the dominance of Bitcoin will replace by Ethereum but I don't know this man can dump Bitcoin since Ethereum was in the next position of Bitcoin then it could be, but bear in mind Bitcoin price movement will also affect the altcoins price, most of them.
Something that there is a hidden agenda with JP Morgan about this, I smell something different on him.

[livingfree]

JP Morgan/Jamie Dimon only wants to buy all of those cheap bitcoins that will listen to his advice.

If they're even accumulating for the past years and stopping calling what they've used to call bitcoin then people shouldn't listen and just keep their bitcoins.

Just keep it and if someone wants to buy ethereum, buy it with your money and don't dump bitcoins for it.

I'm not going to be surprised if JP Morgan is buying in this dip again, that's why Jamie Dimon resurfaces and claim that he doesn't own Bitcoin and create another FUD. But behind our backs, his son is into BTC. Total contradictory of father-son as regards to their investment.

In any case there is no shift of investors fund, when Bitcoin dumps everyone bleeds and that case still remain up to this moment. The fact that Bitcoin is the prime mover in this market already says it all.

Well, we can have that guess that he's always buying every dip.

He has been like that even before and made a fake statement that sent the market down which was his favor. His son? I think that you're talking about Peter Schiff?

[stomachgrowls]

The question is, do you think in the long run the dominance of bitcoin will significantly drop and Ethereum will try to compete with bitcoin?

We do have lots of question similar to this back in the past.If we do consider on how many popular or known people have told their sentiments between bitcoin and other top alts then we do have lots.

Overall market dominance is still sitting on almost half compared to bitcoin which isnt the same on where ETH is almost catching on dominance back in the past.So i dont see on where
they do really get these impressions.

It's interesting since it's coming from JP Morgan which IMO is not a big fan of bitcoin.

We do have our own preference and own will to take up decisions on what are the things we do like.
This isnt only the basis for your investment advises.

[StreakW]

Ethereum will not be able to beat the dominance of bitcoin because the capitalization of Bitcoin is still very large compared to Ethereum. Basically, the price of Ethereum almost always follows the direction of the Bitcoin movement. If Bitcoin goes up, then Ethereum will go up even more. if Bitcoin goes down, Ethereum will have a stronger decline.

[carlfebz2]

Ethereum will not be able to beat the dominance of bitcoin because the capitalization of Bitcoin is still very large compared to Ethereum. Basically, the price of Ethereum almost always follows the direction of the Bitcoin movement. If Bitcoin goes up, then Ethereum will go up even more. if Bitcoin goes down, Ethereum will have a stronger decline.

We cant tell but there would be some probability and it all varies with the demand or the community support because this is something that could really changed up overtime which means
that if there are some sort of reason on why people would be transferring on ETH then it could really happen but its really hard to believe on that it would really be happening on upcoming years to come
but since future is unpredictable then we are open to the possibilities.

[noormcs5]

^  Rofl!  Does that face look like a guy who wouldn’t dump BTC?  

But here’s the thing tho, if BTC dumps, everything else dumps.  BTC still owns the space, love it or hate it...  I mean just look what happened an hour ago.  BTC dumps then drags everything down with it.

And so...  Euro time zone dumped, let ‘s wait for the US time zone.  They’re due up in a couple of hours or so.  It’s almost 7:00am ET.  There’ll be a lot of broken clocks.  

That's just a tactic to make more people invest in Ethereum. There is no way that Ethereum will replace the Bitcoin marketcap. Bitcoin will always remain at the top of cryptocurrency. Also we know that when bitcoin dump, all altcoins dump including Ethereum.

[pooya87]

Shitcoins such as ethereum have been dumping hard over the past 4 years, in fact majority of them haven't been capable of recovering more than 20% of what they lost during these years. Meanwhile bitcoin has not only recovered all the price it lost (from $20k down to $3k then back to $20k) but also it went up 3 times higher than its previous ATH.

In short term the pumping teams will use any excuse (like shethereum having some small pumps due to its possible upcoming fork) to pump some shitcoins but they will follow it up with a big dump to pull their money out and pump the next shitcoin.

Besides nobody with half a brain would ever invest in a useless inflationary coin with unlimited supply and a massive premine for long term.

[the ghabbar]

Big investors are dumping bitcoin futures and pivoting to ethereum as expectations for the world's largest cryptocurrency soften, JPMorgan says

Big-money investors are shying away from the bitcoin futures trade and pivoting instead to ethereum futures as expectations for the world's largest cryptocurrency soften, JPMorgan analysts wrote in a note on Wednesday.
In September, bitcoin futures on the Chicago Mercantile Exchange have traded below the price of an actual bitcoin, the analysts noted.
"This is a setback for bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to bitcoin," the analysts wrote.
Under healthy demand, futures usually trade at a premium to actual bitcoin. This happens because high bitcoin storage costs and the juicy yields available for passive crypto investing push up futures prices, according to previous JPMorgan research.

read more, check the link above.

The question is, do you think in the long run the dominance of bitcoin will significantly drop and Ethereum will try to compete with bitcoin?

It's interesting since it's coming from JP Morgan which IMO is not a big fan of bitcoin.


JPMorgan CEO Jamie Dimon says he’s still a crypto skeptic: ‘I’m not a bitcoin supporter. I have no interest in it’

In terms of readiness, bitcoin is more profitable than Ethereum, bitcoin has a very long process in crypto, while ethereum has not gone through the difficult process bitcoin has experienced, bitcoin's dominance will indeed decline, but not because bitcoin has no movement in the market, but because the buying and selling value of bitcoin will be higher, and this will be difficult to reach for people who have middle class finances, while ethereum has a difference, almost many people can afford to invest, the competition between bitcoin and ethereum will continue to exist all the time, but to shift bitcoin I don't think it's easy for ethereum.

[el kaka22]

I would assume that ethereum would definitely be something that could be a lot more favourite for the futures trading. The main reason for this is the fact that we could potentially see something a lot more serious here, a lot more volatility, and a lot more news worthy stuff. In bitcoin it is basically just a regular boring thing and nothing too complicated or nothing that much of a big news comes out.

The biggest news bitcoin gets is like Elon Musk tweet or china ban or something like that which is boring at this point. Hence ETH is a lot better and a lot more worthy for futures.

[skarais]

~~~
The biggest news bitcoin gets is like Elon Musk tweet or china ban or something like that which is boring at this point. Hence ETH is a lot better and a lot more worthy for futures.

Sometimes bitcoin are boring just because of FUDs in circulation and sometimes those FUDs are also necessary as another way to open up opportunities for bitcoin enthusiasts to buy more when more people start throwing them away. If you tell me to choose then I'm still confident enough to choose bitcoin as a long term investment asset simply because of its decentralization and apparent usefulness. I'm not one of the Ethereum haters because previously in the context of investing I have made a profit from it in the past. But bitcoin is still the number one choice until now because it is the king of cryptocurrencies. We have a preference for determining which assets we believe will make a profit over a certain period of time, so don't worry about your choice when you are responsible for your money and accept the risk.

[tokeweed]

BTC is looking like shit again after looking promising earlier...  And I misread the thread title.  I thought it was BTC dump, ETH dump.  Lol.  But ETH pump would’ve been ideal for the sake of finding some continuation for the bull market.  But in the end, every alt follows BTC.

[btc_angela]

BTC is looking like shit again after looking promising earlier...  And I misread the thread title.  I thought it was BTC dump, ETH dump.  Lol.  But ETH pump would’ve been ideal for the sake of finding some continuation for the bull market.  But in the end, every alt follows BTC.

And for the sake of argument, not just btc market is going down, or crypto in general, all other traditional markets around the globe is having a bearish trend this September.

So yeah, btc looking shit after a good month last August, reaching as high as $52k and now we are off by $1k. But that it is the nature of btc, and I'm sure you are a diamond hand, and so as the others. This is just another month wherein September is not really performing well just like in the previous years.

[traderethereum]

If ethereum can rising higher while bitcoin is dump hard, that will not be a problem for me because I can still make a profit by selling some ethereum I have and maybe I will convert it into bitcoin or USDT.
But today, I see that both bitcoin and ethereum have good progress in increasing together. Although bitcoin is not increasing too high, I consider it a good step for bitcoin to increase.
Ethereum itself is now back to $3,000, according to CMC, so that gives us a nice profit if you sell for some amounts and wait for another correction to buyback.
So hopefully, next week can be a good time for bitcoin and ethereum to increase back and reach the highest price.

[Victorycoin]

The price of bitcoin and ethereum will increase and will depend on the movement of the dump market both currency prices rise but it is a good move even it is an etherium pump ethereum's price goes up, it's time to sell and it's time to retain bitcoin. The amount of profit will be good then there is the position of other symbolic currencies ethereum or ripple is actually the currency of the future, then their price will go up and bitcoin will go down for all these reasons, its price suddenly decreases and then rises suddenly.

[Kusman]

For now, it seems near impossible. But in the future, there is no guarantee for Bitcoin to maintain its place forever. Maybe Ethereum doesn't have limited supply. But this is not an obstacle for it to leave Bitcoin behind in the future. If the demand for Bitcoin starts going down to zero at some point and Ethereum continues to grow, then Ethereum will have a big chance to overtake Bitcoin in terms of the price.

[tokeweed]

BTC is looking like shit again after looking promising earlier...  And I misread the thread title.  I thought it was BTC dump, ETH dump.  Lol.  But ETH pump would’ve been ideal for the sake of finding some continuation for the bull market.  But in the end, every alt follows BTC.

And for the sake of argument, not just btc market is going down, or crypto in general, all other traditional markets around the globe is having a bearish trend this September.

So yeah, btc looking shit after a good month last August, reaching as high as $52k and now we are off by $1k. But that it is the nature of btc, and I'm sure you are a diamond hand, and so as the others. This is just another month wherein September is not really performing well just like in the previous years.

A diamond hand?  Lolol.  Is that what they call holders these days?  Yeah sure...  I-i am a ‘diamond hand’..  I guess.  But ‘I lost my private keys in a boating accident.’.  Lol.

Anyway, BTC is looking slightly decent today and hopefully it carries on to October. 

[Ararbermas]

Well opposite happened because bitcoin really pump within 24hrs and seems still want to push more base on the percentage itself in the market at this point, wherein unlike ethereum that seem just following the trend of the market along with some alts but not that much like what performance of bitcoin had right now. Now i missed the opportunity because I'm expecting too much correction. Lol my bad! Imagine bitcoin is up by 6% and still counting probably. But i hope it will not last.. Lmao just kidding..