I am trying not to get too influenced by recency bias but what are the ETH and "crypto" nerds going to say if eth doesn't outperform in the next bull market?
Not saying it is going to happen, as I expected ETH with the artificial supply squeeze, might have one more kick at the can to act as high beta to Bitcoin in a bull run. However, it seems like the regulatory walls are closing in on ETH, while Bitcoin adoption and integrations via lightning continue to grow. More people are clueing into Bitcoin not crypto and the move to proof of stake has made ETH completely untenable for any institutional investors until unlock is successful, regulatory clarity is issued and proof of stake has time to Lindy.
I expected the bull run after next to be the one where eth fails and begins its demise into obscure, niche, digital play thing for a few million nerds and degenerate gamblers, while Bitcoin scales to billions but I am coming around to the idea that if everything falls into place it could happen sooner than I expected.
Time will tell. In the meantime I will keep stacking sats.
Cheers, GR
I'm not going to spend any time trying to get in their heads but I can see why it could be of interest to some. The last ETH/BTC ATH was over 5 years ago. It didn't make an ATH last bull run so it is probably at least reasonable to think it might not next time either.
That's about all the time I intend to devote to that question.
I did tip you sats in case you think it seems like I'm shitting on your contribution, lol.
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The ATH comment is fair but it did outperform from trough to peak in the last bull market which has a lot of market participants assuming it will outperform again next bull run. My point is simply at some point it won't and maybe that is sooner than later. Thanks for the response.
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It feels like the esoteric surrounding bitcoin ecosystem that isn't mainstream is growing and increasing in innovation and that doesn't get mainstream attention.
But yes, Gensler could crush them.
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