ETH/BTC (1W) chart
Apparently, Ethereum has lost from various aspects and is not as charming as before. Ethereum Classic (ETC) has been lost and the cryptocurrencies such as Cardano (ADA) and EOS (EOS) are threatening its position. Ethereum blockchain has successfully hosted thousands of ICOs, so this is a strict success for Ethereum (ETH). Besides, for 2017, it was a quite profitable coin, and those tardy investors in the cryptocurrency rush could have benefited more than 100x, just buying this coin during the last year. Ethereum’s (ETH) higher point was over $1500; however, this cryptocurrency does not recently seem as popular. The essentials of Ethereum (ETH) is more associated to this condition, when comparing to its technicals.
You can see above, in the weekly ETH/BTC chart, this cryptocurrency experienced a bold pressure during last couple of weeks, with a break in the market structure and well as serious levels. Although its price appears to be plummeted currently against Bitcoin (BTC), like most of the cryptocurrencies, we do not see a similar interest here. Also the technical indicators identify a highly bullish condition, and we could have experienced powerful surges with other cryptocurrencies in similar conditions. We indicated before in one of our analyses, Ethereum (ETH) has compromised its market cap dominance trend and lost againts altcoins long since. On the other hand, we justifiably believe that Ethereum (ETH) lost also the war along with the battle.
ETH/USD (1W) chart
It is evident that Ethereum (ETH) has lost against altcoins. Altcoins’ growth results in major players in the market losing their dominance in market cap. Apparently, investing in projects not acting on a principle is not as charming as backing coins with bold plans possibly to result in steady returns for the investors. Ethereum’s (ETH) founder, Vitalik Buterin, advocates that cryptocurrency investments intended for financial promotions should be highly discouraged. As a matter of fact, he tweeted by himself to discourage such use of the cryptocurrencies. On the other hand, contrarily, one of them being the CTO of Ripple, there are people openly saying customers how much they can possible benefit from their cryptocurrency, which is XRP in this case. We know well what the priorities are.
Ethereum’s (ETH) glittering days have passed, now its focus is more than money. This is actually good for the crypto-currency; however, the individual investors are clearly signalled to draw their funds and invest in other cryptocurrencies focusing on money. Furthermore, there has another war recently arisen with the miners, supplemental to their infighting. Ethereum blockchain was established on some principles, and now, Vitalik Buterin seems to perform undemocraticly against those principles, resulting in severe concerns. On the other hand, when you once let it go (the DAO bailout), there is no way to recover as one can clearly see from Ethereum’s (ETH) current position.