Bitcoin dump, Ethereum pump!

[stomachgrowls]

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. 

People do really call of something whatever they do have in mind which diamond hand is some words that i had heard up also a while ago about being that kind of holder which didnt really make any sell outs despite of the market condition.

Surely talking about situations about correlation in between bitcoin and other altcoins then i do always consider out that they arent really connected to each other but when it comes to trends
then Bitcoin could surely drag off most coins in the market on a particular point which its really hard to make out conclusions in regarding to this.

They could go both ways or would go in opposite sides which you cant really tell at all.

[Oasisman]

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. 

A dimond hand but a fragile one lol.

I guess we'll have to get through the September fever of Btc's price trend this month as September usually is a bearish season for cryptomarket.
Though Btc bounces back a little after it fell close to $40,000 in cmc, but I guess the correction ain't done yet. We might see below $40,000 as China continues to spread FUD and El Salvador Bitcoin adoption doesn't seem to be in a good situation, and here's another statement against Bitcoin from a person who doesn't support Bitcoin in the first place lol.

[TravelMug]

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. 

A dimond hand but a fragile one lol.

I guess we'll have to get through the September fever of Btc's price trend this month as September usually is a bearish season for cryptomarket.
Though Btc bounces back a little after it fell close to $40,000 in cmc, but I guess the correction ain't done yet. We might see below $40,000 as China continues to spread FUD and El Salvador Bitcoin adoption doesn't seem to be in a good situation, and here's another statement against Bitcoin from a person who doesn't support Bitcoin in the first place lol.

Yeah, thank you September, you are done for now, lol.

So the bearish trend of September still continues, and hopefully if the pattern holds true then the next three months will be a good month for bitcoin right?

Price looking good today, maybe we can jump to $44k-$45k this week so that we can recover what we have lost last month. It seems that the correction is somewhat settled down, market will be stable and be optimistic that a break out run will happen again to even push to $48k-$50k at the end of this month.

[Farma]

If JP Morgan isn't a fan of bitcoin, or doesn't really like bitcoin, it's hard to see someone who isn't a fan of something would support it. besides, long ago, many people have said that some altcoins will become competitors, or replace bitcoin, even this is not the first time for ethereum. well, ethereum is a very good coin, but there are still some problems that users complain about until now. besides, even when ethereum has become very good, even some people say that ethereum is better than bitcoin, but it can't replace bitcoin, in fact the current movement of ethereum is really still affected by bitcoin price.

[Wong Gendheng]

If anyone still thinks that altcoins are very dependent on the bitcoin market then this is a wrong opinion, even the transaction volume of Tether is already 2x than the daily transaction volume of bitcoin, and ethereum transaction volume is about 65% of bitcoin transactions, this is natural if when the bitcoin market drops then not too influential with ethereum because it is supported by hundreds of large and successful projects in the market.

[ethereumhunter]

It is happy to see both coins, bitcoin and ethereum, can increase together so we can see both coins can have a chance to reach the higher price. While bitcoin is now at $47k and ethereum is above $3,000, that will be a good time to sell some parts while waiting for the next higher price. But if you still hold both coins because you want to make a bigger profit, you are free to do that but you should understand that the price can back to the lower price later. Hopefully, that will not happen in this good moment instead, it will increase to the next higher price.

[dezoel]

Both bitcoin and ethereum had a pump on 1st of October, that is a good thing. People should realize that the prices were not what it should have been and undervalued a lot. Nowadays people realized that and we are acting as if everything is doing a lot better, I do believe that it will certainly be better in the long run, some people may believe that it is not going to keep going like this but I believe that it may actually end up going like this for a long time.

I do not know how long it will go like this but 50k+ looks more and more possible if we keep this up. Maybe it may fail and in a week we will see the price around at 40k levels once again but I believe that those days are done now and better days are ahead.

[Kong Hey Pakboy]

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.

Nah, it's impossible that bitcoin's going to be replaced by ethereum, it's not like bitcoin isn't moving forward, bitcoin has a big headstart and I don't think that ethereum will be able to close in on that gap really fast especially with their supply mich higher than bitcoin.

[imstillthebest]

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?

isnt this two giants already competing ever since the world began ? but bitcoin is just too strong and has a lot of die hard supporters ,
thats why it is still in the lead so no ,  
bitcoin dominance will not fade but it will only grow more and what we experience right now is not new .
sometimes btc goes down while the rest of the coin increases but the situation will change later on . no need to panic and worry

[Devifajarina]

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 the long term bitcoin will continue like this, even to beat them is quite difficult, bitcoin's dominance will continue to persist in crypto forever, considering the only coin that has value and the first cryptocurrency to exist, but for ethereum will remain a competitor to bitcoin, but not will never be able to shift it, neither the selling price nor the position of the number one dicrypto coin, if there is a shift in bitcoin with ethereum, it is only temporary, in the long term I think it is impossible.

[darkangelosme]

I don't think so dude that Ethereum can surpass the Bitcoin price at the market, believe me I've heard a lot about like news in the past few years but still Bitcoin is dominating market, don't be easily believe on some famous people spreading thier own thoughts on crypto world.

[Pejoh Asu]

Ethereum is the second strongest coin after bitcoin and seeing the performance of ethereum is certainly not a difficult thing to rise even though the bitcoin market is red, the biggest factor of course is the use of tokens based ethereum so that the demand for ethereum continues to increase.

[thecodebear]

Ethereum will never pass Bitcoin. Ethereum has actual rising competitors in its space. Bitcoin has no competitors in its space in crypto.

While Ethereum will get a huge boost in functionality with Eth2, it has to take on advancing competition from Solana, Cardano, Polkadot, Avalanche, Cosmos, Algorand, etc.
Meanwhile, Bitcoin also will get a huge boost in functionality with the Taproot upgrade, and it is only competing with Gold and fiat currencies as money.

Also remember Dimon hates Bitcoin so any opinion of his is extremely biased. And Dimon isn't even talking about institutional holders. He's just talking about futures, which are short term bets on price. While Ethereum futures may be rising, institutional investors are holding a massive amount more actual Bitcoin than Ethereum.

Crypto as money (bitcoin) and the smart contract platform space (Ethereum and competitors) will both be markets worth multiple tens of trillions of dollars, but Ethereum alone won't compete with the entire crypto-as-money (bitcoin) space. All the smart contract platforms together may very well give Bitcoin's market cap a run for its money, and perhaps even grow larger than Bitcoin by market cap one day, but no chance for Ethereum alone to do this.

[tokeweed]

This is weird..  I’ve been whining that BTC is dragging everything down with it when it goes down.  Now it seems it’s going up fast and it’s leaving everything else behind.    Can’t really complain but I feel like it’s one of those things with the market when it goes BTC up, alts flat - BTC down, alts down more.  I think the last leg of this bull market is all BTC.  What do you guys think?

[Kemarit]

This is weird..  I’ve been whining that BTC is dragging everything down with it when it goes down.  Now it seems it’s going up fast and it’s leaving everything else behind.    Can’t really complain but I feel like it’s one of those things with the market when it goes BTC up, alts flat - BTC down, alts down more.  I think the last leg of this bull market is all BTC.  What do you guys think?

The $28,000-$29,000 and then the last lows $42,000 could be the last leg up to the supposedly or most anticipate $100,000++ this December. But we still have a lot of room to wiggle to reach this price and it will not be small sailing. There could be traps along the way, specially if we breach and push for another all time high this year. Maybe at $70,000 we will see some resistance, but we all know that if BTC goes up, it's hard to stop, not FUD not negative news could deterred investor and speculators to pour their money as they are hoping for a good ride to 6 digits this 2021.

[Fundamentals Of]

Ethereum's price is more or less mirroring Bitcoin's just like other top altcoins. Bitcoin is still the one in control of the crypto market's direction so that when Bitcoin is bullish, Ethereum and other top altcoins are also bullish. And when the price of Bitcoin is falling, it is also expected that the price of Ethereum along with other altcoins will also be dropping down. That has been the crypto market ever since. But of course there are times when the individual altcoin's development news or achievements will play a bigger role. Ethereum is bullish because Bitcoin is bullish and it also has something in store in its continuous development.

[lixer]

When you look at the last week which has been one of the biggest increases so far, we can see that it has been 20%+ bitcoin up, and 15%+ eth up. Which shows that bitcoin and eth going up together hand in hand. Sure btc went up a little more but ETH may catch up to it, the important thing here is not how much they went up but more like how they went up together.

This is why I believe that there is really no worry on what we are doing right now, let coins be wherever they want and eventually they will find their place, there is nothing that is wrong with a little difference as long as they are taking the same path together and without any problems.

[sujonali1819]

I think it’s normal. In the past a lot of time it has happened that BTC is dumping but alts are pumping. This called trend. When market act like stable and btc show a good stable move but suddenly dump the btc and investor money flow to alts. But this time The money only flows to the ETH instead of other alts. Because ETH shown a good stability few days back.

[bots1]

In my opinion, the dominance of bitcoin continues to increase in the long term and Ethereum will not be able to replace bitcoin. I think what JP Morgan predicts can't be taken as a guide. Many of JP Morgan's predictions have been wrong, for example he once said the price of bitcoin will continue to decline until the end of this year but in fact the price of bitcoin has grown back since experiencing a deep decline in last September.

[South Park]

In my opinion, the dominance of bitcoin continues to increase in the long term and Ethereum will not be able to replace bitcoin. I think what JP Morgan predicts can't be taken as a guide. Many of JP Morgan's predictions have been wrong, for example he once said the price of bitcoin will continue to decline until the end of this year but in fact the price of bitcoin has grown back since experiencing a deep decline in last September.

We need to stop listening to those people, it is obvious to me that they have some skin in the game and they want to manipulate the market by creating fake news and see if they can move the market that way and make a lot of money, however anyone that has been here for a very long time know that this market belongs to bitcoin and that even a coin as big as ethereum has a huge correlation with bitcoin, so if bitcoin goes up ethereum goes up and if bitcoin goes down then ethereum does the same.