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Everyone KNOWS that Bitcoin has been dropping lately but what does that mean for Ethereum? ETH like BTC has FAILED it’s 20W Monthly SMA which puts undue pressure on the price to the downside and the trend isn’t looking favorable for ETHBTC either.
The question you need to ask is - WHY are you holding Ethereum instead of BTC? And the answer to that question should clear up your strategy.
If you are actively swapping altcoins/NFTs and participating in DeFi then it makes sense to have a stack of ETH to keep trading against
But if you are NOT USING the Ethereum then why are you holding an asset that consistently holds it value WORSE than Bitcoin does?
What is ETHBTC telling us right now?
When Money is flowing OUT of Crypto - we need to watch this chart to understand where its flowing to
The VALUE of ETH per Bitcoin has been steadily dropping all year long BUT an interaction with the monthly SMA actually shows us the possibility for that value exchange to flip - but it has not been met with any STRENGHT yet.
We have to be prepared to accept that the major moves are done for 2025 and if there’s going to be another rally it would in next year - if we are to receive one at all instead of just continuing lower. But can ETH really be DONE when it never set new all time highs? The answer may be surprising to you.
MY Perspective
When I started investing in Cryptocurrency ETH was very cheap and so I had a lot of it - but as I continued to learn more about DeFi and how Ethereum actually functions - it’s not an asset for the common investor.
Sure it has all the bells and whistles that make it seem worthwhile but at the end of the day it’s not increasing your Bitcoin stack unless you have some type of EDGE on the rest of the market - and most of us don’t.
Sure you can stake it - you can flip NFTs - but if you’re just buying and holding then there’s little salient argument to buy ETH (or most other altcoins) instead of simply stacking more Bitcoin. But that’s just part of it.
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