Why I'm watching ETH right now (but not buying yet)

[DanWalker]

Yep, that's true and I think the reason it performed so badly only in the previous bullrun was the fragmentation caused by having too many L2 which significantly reduced the main chain revenue and also reduced part of staking reward, as a result lesser demand.

There was also fragmentation when ETH holder decided to dump their ETH in favor of governance token which proven to be useless today, fortunately L2 has started to close down one by one and there's only few left that is really needed to scale in time of high traffic. Hopefully the next bullrun would be different and ETH actually break previous ATH. I see no reason why it can't, it has low inflation, only 3% rise in total supply from 2021 bullrun and it has been the primary blockchain to use by Defi protocol again, projects rarely deploy to other blockchain or L2 but always to ETH directly because matured ecosystem.

Personally, I see this issue a bit more simply.
As we all know, it wasn't just ETH. Pretty much the whole alt performed badly in the last cycle. In other words, the altss we were waiting for never really showed up.

My take is, with ETF approval, all the big capital just funneled into bitcoin, and that shifted investor appetite as a whole too. End result, basically every alt lagged, ETH included. In investing, investor appetite always changes and money keeps rotating. So my guess is when the Bitcoin hype starts getting boring, that money will eventually rotate into ETH and alts.

I think ETH's looking real promising for the next cycle. Just my two cents, tho.

[oll]

Optimistic ETH traders see a contracting triangle pattern on the chart and are expecting a breakout. This pattern will initially rise to 4400, and then to 18000. Personally, I believe this violates the technical analysis rule that states that the breakout occurred during the last rise, as support was broken. But that's a matter of personal judgment. Overall, I think this price chart looks more like a corridor than a triangle. But if we look at the upper levels, we can certainly expect to reach at least 3600.



Ethereum's trends are quite good. For example, it's currently reported that only 3.5% of the total Ethereum supply remains on exchanges.
35% is staked.

[Abiky]

Personally, I see this issue a bit more simply.
As we all know, it wasn't just ETH. Pretty much the whole alt performed badly in the last cycle. In other words, the altss we were waiting for never really showed up.

My take is, with ETF approval, all the big capital just funneled into bitcoin, and that shifted investor appetite as a whole too. End result, basically every alt lagged, ETH included. In investing, investor appetite always changes and money keeps rotating. So my guess is when the Bitcoin hype starts getting boring, that money will eventually rotate into ETH and alts.

I think ETH's looking real promising for the next cycle. Just my two cents, tho.

I don't think investors will ever get bored of Bitcoin. The hype will persist for as long as it lives. ETH's going to have a hard time attracting investors into it. Especially if the competition continues to offer fast and cheap "De-Fi". Vitalik and team must come up with something that would blow away investors' minds. Otherwise, it would be doomed. ETH isn't a store of value like Bitcoin, so it depends on utility to survive. With real use cases for it, investors will find it attractive.

I sure hope ETH goes above $5k in the future. But above all, ETH must prioritize decentralization. Because the shift to PoS has made it less-decentralized. We'll see what happens...

[DanWalker]

I don't think investors will ever get bored of Bitcoin. The hype will persist for as long as it lives. ETH's going to have a hard time attracting investors into it. Especially if the competition continues to offer fast and cheap "De-Fi". Vitalik and team must come up with something that would blow away investors' minds. Otherwise, it would be doomed. ETH isn't a store of value like Bitcoin, so it depends on utility to survive. With real use cases for it, investors will find it attractive.

I sure hope ETH goes above $5k in the future. But above all, ETH must prioritize decentralization. Because the shift to PoS has made it less-decentralized. We'll see what happens...

Im not saying btc is gonna become less attractive or investor will leave it. My point is more that there will be phases where appetite temporarily shifts. Like once Btc pumped hard and upside start looking less juicy than before. Some of that money may start looking for opportunities in ETH and alt with higher growth potential.

Capital in market is always rotating. It doesn't just sit still in one asset forever.

ETH doesn't need to prioritize decentralization. It doesn't need to compete with Bitcoin either. The two assets have different roles. What ETH actually need to focus on is improving its utility, scalability...those are things that can actually drive real demand for ETH.

[SatsPH]

Im not saying btc is gonna become less attractive or investor will leave it. My point is more that there will be phases where appetite temporarily shifts. Like once Btc pumped hard and upside start looking less juicy than before. Some of that money may start looking for opportunities in ETH and alt with higher growth potential.

Capital in market is always rotating. It doesn't just sit still in one asset forever.

ETH doesn't need to prioritize decentralization. It doesn't need to compete with Bitcoin either. The two assets have different roles. What ETH actually need to focus on is improving its utility, scalability...those are things that can actually drive real demand for ETH.

Yes, but from what I read, ETH was touted to be the one who is going to beat Bitcoin in the early years. But it didn't happened and then it went on a lot of changes that we all know right now.

And like in the last bull run, it fell short of expectations. So yeah, the appetite of investors might have shifted into other altcoins rather than ETH. That's why we could understand that even the hardened and season veterans of altcoin investing are staying away from ETH for now.

[BALIK]

Yes, but from what I read, ETH was touted to be the one who is going to beat Bitcoin in the early years. But it didn't happened and then it went on a lot of changes that we all know right now.

From what I remember, the whole idea of ETH beating BTC early on mostly came from the community, not Vitalik's goal. ETH was launched as a smart contract platform from the start, basically to do things Bitcoin couldn't, not to replace BTC as currency.

And like in the last bull run, it fell short of expectations. So yeah, the appetite of investors might have shifted into other altcoins rather than ETH. That's why we could understand that even the hardened and season veterans of altcoin investing are staying away from ETH for now.

If you say investor attention may have shifted to BTC, I'd agree. But if you think it's rotating into other altcoins, I'm kinda skeptical tbh.
Anyone following the altcoin market knows confidence in ETH has never really dropped compared to other alts.

[Localhostspeed]

Yes, but from what I read, ETH was touted to be the one who is going to beat Bitcoin in the early years. But it didn't happened and then it went on a lot of changes that we all know right now.

And like in the last bull run, it fell short of expectations. So yeah, the appetite of investors might have shifted into other altcoins rather than ETH. That's why we could understand that even the hardened and season veterans of altcoin investing are staying away from ETH for now.

It was used to be selling points for coins. The way Ethereum was used to compare Bitcoin was how Bitcoin cash used to be used too. At one point Ripple wanted to beat Ethereum and I heard it flip Ethereum by market cap but with time it did came back to it's place but price wise has not been that different like Bitcoin has performed. We need to see Ethereum break all time, these $5k is taking forever or maybe it's not getting the attention it deserve.

The way some people are been silent on the price might shock everyone. When a potential coin is there for too long and it has the opportunity to to run after many accumulation and distribution of coins between investors, it usually makes new all time. I have seen the same play book by ZEC and the price recovery was highly impressive.

[nelson4lov]

I saw news that the amount of the ETH unstaking queue has gone up by over 300% since the start of October, and today is just the 3rd of October. I think we might be gearing up to see some pull back towards the mean in preparation for the next leg of what could be a new bull market. I would be a buyer at low 2k or under 2k if we get to that level (unlikely).

[M47AK16]

Im not saying btc is gonna become less attractive or investor will leave it. My point is more that there will be phases where appetite temporarily shifts. Like once Btc pumped hard and upside start looking less juicy than before. Some of that money may start looking for opportunities in ETH and alt with higher growth potential.

Capital in market is always rotating. It doesn't just sit still in one asset forever.

ETH doesn't need to prioritize decentralization. It doesn't need to compete with Bitcoin either. The two assets have different roles. What ETH actually need to focus on is improving its utility, scalability...those are things that can actually drive real demand for ETH.

Yes, but from what I read, ETH was touted to be the one who is going to beat Bitcoin in the early years. But it didn't happened and then it went on a lot of changes that we all know right now.

And like in the last bull run, it fell short of expectations. So yeah, the appetite of investors might have shifted into other altcoins rather than ETH. That's why we could understand that even the hardened and season veterans of altcoin investing are staying away from ETH for now.

It was in the early days when bitcoins were compared to ETH. That might be because both were trending on the top two levels and people always want excitement so they were expecting ETH to be the top crypto. That did not happen for sure and even now, BTC remains on the top. If no coin was able to break BTC's dominance for almost a decade, I hardly doubt that would happen in the future. Bitcoins will always stand out from the competition and other top coins would struggle to get the runner up positions.

Considering a bull run, BTC and ETH would be the first ones to react. Holding both coins is not a bad idea and can definitely make us gain some profits while keeping risk on minimum level. Yes, with other coins, the risk will eventually go up.