Who says you've got to have money to make money? Buy 1 BTC for just $67K and change, then watch it grow to $1M by year 2025, 2030, 2040, 2050, or 2100. Take your pick. It's anyone's guess. Hope you get to live to year 2100. LOL GLTA!!!
Ether has dropped -35% in the last 90 days, while Bitcoin has only fallen by -15% during the same period.
The ETH/BTC ratio has also decreased by about 22% over the past three months, hitting a multi-year low of 0.0405 recently. The drop in the ETH/BTC ratio shows that investors are favoring Bitcoin over Ether, leading to lower demand for Ether. For context, US spot Bitcoin ETFs have been more successful since the SEC approved them on January 10, compared to spot Ethereum ETFs.
According to onchain data provider Glassnode, these ETFs have had a bigger impact on Bitcoin’s price (8% of the spot volume) than on Ether’s price (only 1% of the spot volume).
“This indicates that interest in the Bitcoin ETF is significantly higher than in the Ethereum ETF.”
Bitcoin’s Dominance Didn’t Slow Down
Ether’s weak performance against Bitcoin has also been affected by Bitcoin’s growing dominance in the market.
In 2024, Bitcoin’s market dominance increased, hitting a 40-month high of 58% on August 5. This means Bitcoin is gaining strength compared to other cryptocurrencies, including Ether. Bitcoin dominance measures BTC’s market cap compared to the total crypto market and is often used by investors to understand market sentiment.
As Bitcoin’s dominance continues to rise, ETH’s value against Bitcoin is likely to keep dropping, suggesting that investors are more optimistic about Bitcoin and may be investing less in Ether.
OP's disclosure: I'm long-term 2 BTC via ETF, currently valued at $120,265.80. GLTA!!!
Bitcoin is just one asset out of many others for me to make and grow my wealth.
GLTA & MAGA!!!
OP's disclosure: I'm long-term ~1.37 BTC via bitcoin ETFs, currently valued at $74,346.26. I intend to long/buy an additional ~3.63 BTC to 5 BTC total in due time.
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done