Make no mistake: Ethereum takes colors in dollars, but it makes lose Bitcoin / Satoshis ETH-Hodlers
On the pair ETH-BTC, I put you in evidence a first falling wedge whose target of turning bullish has reached its objective (top of the falling wedge).
Then, Ethereum experienced a second falling wedge that showed that there was already a disaffection of investors for this altcoin: its bullish reversal target has not been reached at all.
The following, a long and slow agonizing fall... until today we find ourselves facing a terrible descending triangle inviting to go to seek the depths of the abyss.
Would the market have matured and understood that the only use case on crypto-currencies that really interests investors-savers-speculators is the store of value with characteristics that only Bitcoin and some of its Forks to a lesser extent (Decred, Litecoin, Monero) are able to offer ?
The only proven utility of Ethereum has been the massive production of ICO-scam, ERC-20 and smart-contracts with no real use cases. In short, its only use was to generate machines to manufacture hype and enrich its devs and early adopters (when they came out in time).
Oops, I forgot: cryptokitties! The joke of too much? their devs must laugh at it behind the scenes.
On the pair ETH-BTC, I put you in evidence a first falling wedge whose target of turning bullish has reached its objective (top of the falling wedge).
Then, Ethereum experienced a second falling wedge that showed that there was already a disaffection of investors for this altcoin: its bullish reversal target has not been reached at all.
The following, a long and slow agonizing fall... until today we find ourselves facing a terrible descending triangle inviting to go to seek the depths of the abyss.
Would the market have matured and understood that the only use case on crypto-currencies that really interests investors-savers-speculators is the store of value with characteristics that only Bitcoin and some of its Forks to a lesser extent (Decred, Litecoin, Monero) are able to offer ?
The only proven utility of Ethereum has been the massive production of ICO-scam, ERC-20 and smart-contracts with no real use cases. In short, its only use was to generate machines to manufacture hype and enrich its devs and early adopters (when they came out in time).
Oops, I forgot: cryptokitties! The joke of too much? their devs must laugh at it behind the scenes.
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Volumes
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The moldy floor of Ethereum has given way to the cellar! IMHO