Should we be happy and wishing for Eth to decline?

[Odusko]

Ethereum being referred to as altcoins doesn't have anything to do with the value of the coins, you can see some altcoins with massive value in terms of price, but yet their are categories are in the altcoins domain, altcoins are simply any other crypto coin that is outside Bitcoin, so don't get things wrong here mate.

[Orpichukwu]

Ethereum being referred to as altcoins doesn't have anything to do with the value of the coins, you can see some altcoins with massive value in terms of price, but yet their are categories are in the altcoins domain, altcoins are simply any other crypto coin that is outside Bitcoin, so don't get things wrong here mate.

If I understand the OP correctly, he's not saying ETH is not an altcoin but rather that he is pissed because he sees people referring to ETH as a coin that comes after Bitcoin, something equal to taking Bitcoin's placewhereas ETH is totally a centralised chain coin.

[Dunamisx]

The season for ethereum is not yet due, which is what I've been observing over it for some time now, maybe that's also part of the reasons we couldn't achieve having the best of it performance during this bullrun, but there will always be a season for the altcoins to show all they've got in due cause, maybe a little more patience to tarry more could draw the improvements needed and make them perform better at their time or season.

[programmer3666]

in my own view i can see both in some ways! like if you look at ETH it may not be a direct alternative to BTC, but it plays a different role in the ecosystem itself while Bitcoin is hard money, Ethereum is more like the infrastructure layer that is just powering Web3, DeFi and NFTx so even if some hype gets annoying!! it still drives real innovation and network use but i kinda agree that too much focus on ETH as digital money distracts from Bitcoin’s initial purpose.  but again!! a healthy market correction would not hurt becuase it would shake off weak hands and hype traders, leaving only those who actually believe in the tech and long term value.

[BTCian]

Ethereum being referred to as altcoins doesn't have anything to do with the value of the coins, you can see some altcoins with massive value in terms of price, but yet their are categories are in the altcoins domain, altcoins are simply any other crypto coin that is outside Bitcoin, so don't get things wrong here mate.

If I understand the OP correctly, he's not saying ETH is not an altcoin but rather that he is pissed because he sees people referring to ETH as a coin that comes after Bitcoin, something equal to taking Bitcoin's placewhereas ETH is totally a centralised chain coin.

So if ETH is a coin that comes after Bitcoin, then ETH is truly an altcoin. As they say, there is only one Bitcoin. I don't see something that is offensive here if that's people perceive about ETH but you know what is more peaceful? That is if people think that ETH is the king of the crypto market. To @OP, Depends on our goal, if we are a supporter of ETH and we want to buy more ETH, then we must be wishing for it to decline. That should make us to be happy if our wish is fulfilled.

[impulse709]

The season for ethereum is not yet due, which is what I've been observing over it for some time now, maybe that's also part of the reasons we couldn't achieve having the best of it performance during this bullrun, but there will always be a season for the altcoins to show all they've got in due cause, maybe a little more patience to tarry more could draw the improvements needed and make them perform better at their time or season.

I will also say that Ethereum is yet to enter its strong season and that is why its performance is not as strong as other coins in this bull run. Altcoins tend to enter and leave different stages and ETH tends to reveal itself as powerful as it really is when the market finally shifts. There is no need to wish that this would decline; patience is more of value in this case. Ethereium normally mirrors this pattern when its cycle arrives, therefore, it is advisable to follow the trend and be ready than act in hope of a decrease in prices.

[bounceback]

The closest alternative to Bitcoin is probably gold, which comes with many tradeoffs. I don’t think of Ethereum as an alternative to Bitcoin. The name altcoin just means anything that isn’t Bitcoin. There isn’t a deeper meaning beyond that.

The ETH maximalists and stock promoters believe that their coin will replace BTC, altcoins, and every financial application will be built on Ethereum. This is just not feasible. Half the apps on Ethereum and other smart contract networks stopped working earlier today because of the AWS outage. This is not something which can replace global financial networks or even Bitcoin.

ETH has its own value proposition, different from BTC, which has given it a half trillion dollar market valuation. That is impressive in itself. ETH failing isn’t necessary for Bitcoin to succeed. There isn’t one cryptocurrency that will serve every single use for all users, that is why altcoins will continue to exist and attract investors.

From the past until now, many ETH enthusiasts have assumed that Ethereum would replace Bitcoin, but in fact, Bitcoin remains the single most sought-after cryptocurrency among investors, maintaining its market leadership, with none of the many altcoins able to displace it.
Essentially, altcoins were created not to compete with or replace Bitcoin, but rather to attract investors to the crypto market. When Bitcoin's price rises, some investors can still purchase some altcoins to invest and generate profits.

[JeffBrad12]

in my own view i can see both in some ways! like if you look at ETH it may not be a direct alternative to BTC, but it plays a different role in the ecosystem itself while Bitcoin is hard money, Ethereum is more like the infrastructure layer that is just powering Web3, DeFi and NFTx so even if some hype gets annoying!! it still drives real innovation and network use but i kinda agree that too much focus on ETH as digital money distracts from Bitcoin’s initial purpose.  but again!! a healthy market correction would not hurt becuase it would shake off weak hands and hype traders, leaving only those who actually believe in the tech and long term value.

Being an infrastructure, ETH could actually bring better value if the price stay around 1k or cheaper because then the fee won't be too expensive. if it's priced like right now sitting around $2.8k still too expensive. That'd mantain the FDV to be sustainable while the rest of the money could go to bitcoin.

[Lamkuthang]

The season for ethereum is not yet due, which is what I've been observing over it for some time now, maybe that's also part of the reasons we couldn't achieve having the best of it performance during this bullrun, but there will always be a season for the altcoins to show all they've got in due cause, maybe a little more patience to tarry more could draw the improvements needed and make them perform better at their time or season.

Eth for altcoins is still king, ETH is my main key in altcoins and what I need to do now is be patient and continue to monitor its movements, both trends and developments in current market behavior. Because if Monday BTC drops back to 80K this Monday it could make ETH go down again. Yes, market trends and sentiment can influence current selling pressure.

[Abiky]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

Any cryptocurrency other than Bitcoin is considered an "altcoin". ETH falls under the definition of an altcoin, considering that it's an alternative to Bitcoin. In other words, something completely different than Bitcoin. Personally, I'd love to see ETH decline since it's an overvalued crypto. Especially when it doesn't really have a finite supply. Not to mention, it's a PoS (Proof of Stake) "shitcoin". Most PoS coins fail to retain high market prices because of the way they're designed. PoW coins are often more valuable as they require external equipment/hardware to be able to start earning rewards. Time and energy are PoW's greatest "assets". In PoS, you just buy and "hodl" to get some kind of "interest" in return. Similar to a bank's saving account or a CD (Certificate of Deposit).

Since there's not much momentum to keep market prices afloat, ETH will slowly decline during the remainder of the year. We'll see if it catches the attention of institutional investors in the long run.

[gastrack]

If you’re a long-term, under-allocated believer: a decline can be welcomed. If you’re overexposed or short-term focused: a decline is understandably painful. The key isn’t hoping for up or down—it’s position sizing, time horizon, and conviction. If you want, tell me whether you’re thinking as a long-term holder, trader, or newcomer, and I can tailor the perspective more precisely.

[Agbamoni]

I don’t wish an alt the worst unless it goes against the grain & tries to bring centralization and all the shitload to Bitcoin as if they’re better. There are a few alts worth bringing into the discussion here and there but they’re mostly shitcoins or coins that keep drowning every year.. faster than the USD nowadays it looks like lol

Trust me, all the alts are centralized even if they preach privacy and anonymity. Dont trust them.

Several experiences in the past have taught me to never trust any altcoin you see out there inluding ETH. No matter how they try to be better, they can never be better. The only reason why ETH is still standing till date is because it was the first alternative currency to Bitcoin, and also because of its usage.

[Abiky]

Trust me, all the alts are centralized even if they preach privacy and anonymity. Dont trust them.

Several experiences in the past have taught me to never trust any altcoin you see out there inluding ETH. No matter how they try to be better, they can never be better. The only reason why ETH is still standing till date is because it was the first alternative currency to Bitcoin, and also because of its usage.

All of them? Or most of them? Because there are a few alts which are truly-decentralized. Monero and Litecoin are good examples of this. I understand the frustration of many crypto enthusiasts. Especially when it comes to altcoin projects using the term "decentralized" inappropriately. It's this reason why many people opt to use Bitcoin instead. Still, it's not all that bad. You can trade centralized alts and make a profit in return. They're better suited as a short-term investment than anything else.

I've seen many centralized altcoins "pump" due to hype. Why not take advantage of the situation? Ultimately, there can only be one winner. We all know which crypto that is. ETH doesn't come near as close to Bitcoin in terms of decentralization and/or censorship-resistance. But at least, it's better than most other altcoins. For a PoS cryptocurrency with inflation built in, I'm not surprised of ETH's recent decline in market prices. Not even the spot ETFs have been any help. Who knows what will happen in the future?

[suhadi88]

If you’re a long-term, under-allocated believer: a decline can be welcomed. If you’re overexposed or short-term focused: a decline is understandably painful. The key isn’t hoping for up or down—it’s position sizing, time horizon, and conviction. If you want, tell me whether you’re thinking as a long-term holder, trader, or newcomer, and I can tailor the perspective more precisely.

Hmm. But the question now isn't which model we'll adopt, short-term or long-term, but rather how much money we have left to take advantage of the low prices the market offers at times like these. The question of short-term or long-term investment will be answered after the purchase is made.

That's how I feel. Why keep thinking too far ahead and being ambitious, because we know the current pressing situation is to still have a cash reserve so we can buy and accumulate more ETH, and that's the reality.

[Oshio-man]

As long etherium is the king of other altcoins in the market, it will make you feel you are holding bitcoin whenever you are opportun holding etherium for long term because is profitable for long term holding, even though you buy etherium in this current price and hold for more than two years, I don't think you will regret for the kind of result you will encounter in the future, etherium have strong teams that is keeping the coin favouring their investors and also attract other new investors to invest more on etherium, now that we have few days remaining before the end of this year, I don't think etherium price will decrease below the current price before it will increase higher again to cause investors to earn huge income.

[malekbaba]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

If ETH goes up, market sentiment also become bullish. Eth is the prime leader of alts. And Alt season will primarily probably depend on Eth. As ETH has highest MC after BTC, the impact is huge. I think you are a bit confused. If you don't find ETH as alt to BTC, what are your options?
If ETH goes down to $600, there will be red sea. And many crypto people will get washed out from the market

[JeffBrad12]

If ETH goes up, market sentiment also become bullish. Eth is the prime leader of alts. And Alt season will primarily probably depend on Eth. As ETH has highest MC after BTC, the impact is huge. I think you are a bit confused. If you don't find ETH as alt to BTC, what are your options?
If ETH goes down to $600, there will be red sea. And many crypto people will get washed out from the market

That is only true to any coin that is based on ethereum virtual machine and its by-product. When ETH was heavily underperforming solana, and other coins are going up in a rally. Altcoin actually have no trend setter, altcoin follows bitcoin regardless if ethereum stagnates or not.
If according to you ETH is the prime leader of alts then this chart that correlate to ETH/SOL must be wrong



In reality there is dynamic on the top altcoins and each one of them is independent.

[Orpichukwu]

If you’re a long-term, under-allocated believer: a decline can be welcomed. If you’re overexposed or short-term focused: a decline is understandably painful. The key isn’t hoping for up or down—it’s position sizing, time horizon, and conviction. If you want, tell me whether you’re thinking as a long-term holder, trader, or newcomer, and I can tailor the perspective more precisely.

Everyone will react to the market based on what they expect and what they plan for; even short-term holders, most of them still have plans to accumulate more. A market decline can give them an opportunity to buy and fill their bag; it will only cost them time to hold more than they expected in order to take good profit from the market.

[Abiky]

If ETH goes up, market sentiment also become bullish. Eth is the prime leader of alts. And Alt season will primarily probably depend on Eth. As ETH has highest MC after BTC, the impact is huge. I think you are a bit confused. If you don't find ETH as alt to BTC, what are your options?
If ETH goes down to $600, there will be red sea. And many crypto people will get washed out from the market

ETH going down to $600 seems like a far stretch. Especially when it's "too big to fail". Besides, "Wall Street" has its hands tied on ETH. You think institutional investors are going to let this opportunity pass by? If ETH declines to such prices, it will quickly rebound to its original levels. You'd be lucky if you catch "cheap" ETH before then.

For a PoS coin that has shifted its focus away from decentralization, I'd say it has reached pretty far. It might as well be overvalued these days. Yet, competitors such as Solana and BNB are in a much worse situation than ETH (more centralized). So in a way, ETH remains the best smart contracts blockchain in the world. The crypto market is unpredictable, so anything can happen in the future.

[wakier]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

But why would you still hold 1% in ETH if you're upset or don't believe in it?
This means you might still be skeptical, or perhaps even have at least 1% confidence in its future price.

Regarding ETH not being a BTC alternative, what altcoins are truly worthy of being considered as BTC alternatives? I'm not advocating for ETH, but to date, only Ethereum truly qualifies as a BTC alternative in terms of crypto investment. There may be other altcoins that could be considered more viable, but the fact remains that many people still hear that ETH is the alternative to BTC.