The weekend is here, and as always, liquidity in the market decreases.
None of us has ever seen Bitcoin at this height, and we cannot predict how high it will go next. I personally think it will most likely press on and break 8 within the month.
Ethereum has lived up to the expectations of its big brother and is making great efforts. Friends who follow Ethereum should pay attention to the blockchain conference to be held in Bangkok on the 12th! Vitalik Buterin will be present at the conference. If Vitalik Buterin and the foundation behind Ethereum can have a wonderful performance, such as cheering for Ethereum like Musk did, it will undoubtedly be the icing on the cake.
Currently, ETH’s intraday high is at 3058, which is also the area where the daily MA250 is suppressed. The upward pattern suppression range is 3309~3396. It is expected to be reached in an excited market, but it is recommended to operate with caution. ETH’s rise this week is a compensatory rise for the broader market.
Many articles have been written about Ethereum, as well as Ethereum and SOL. Many people think that Ethereum is not doing well, mainly when compared with BTC and SOL.
To be honest, there is no need to compare it with BTC, they are not on the same track at all. Jiushen said in "Hoarding Bitcoin" that for applications like Ethereum, you propose a 2.0 today, and he will come up with a 3.0 tomorrow, and someone will definitely come up with a 4.0 the day after tomorrow, so don't worry.
Bitcoin is the leader, and Ethereum is also the leader, but they are not in the same track, nor are they of the same size. The roles and functions they carry are different, so don’t compare them with BTC.
Don’t talk about 2017 or 2021, when Ethereum ICO issued a bunch of coins. Look at the entire ERC20, hundreds of ERC20 tokens were born out of Ethereum.
Including the outbreak of DeFi Summer, it is like an operating system. It is originally a bare system, and then hundreds of applications have to queue up to be installed. The prerequisite for installation is to purchase ETH. All project participants have to interact and need a large amount of ETH. Naturally, the price can be comparable to BTC.
It is natural to compare it with SOL. After all, they are on the same track. Judging from the price of the currency, the increase of SOL is almost comparable to that of Bitcoin. Currently, BTC has reached a new high, and SOL has also reached a new high with a 10% increase.
But whether the price of the currency can be sustained for a long time depends on what the SOL public chain has done that Ethereum has not been able to accomplish, and what innovations it has made that Ethereum does not have.
Back to the question itself, which one is better to buy, Ethereum or SOL?
From the perspective of investment with the primary consideration of protecting the principal, ETH is currently at a low odds price compared to SOL. Let’s first look at the exchange rate of ETH to BTC, as follows
May 26th Bitcoin: $67,000, ETH: $3,800
July 30th Bitcoin: $67,000, ETH: $3,200
September 28th Bitcoin: $67,000, ETH: $2,600
October 27th: Bitcoin: $67,000, ETH: $2,500
If we look at the monthly line, it is also quite weak, having fallen for two consecutive years. The same is true for the exchange rate of ETH to SOL.
In short, don’t be impatient with Ethereum. Historically, Bitcoin has always been crazy for a while, followed by ETH. This round is expected to start a considerable catch-up period when Bitcoin is around 80,000 US dollars.
Until it reaches a new high of around 4,800, BTC will accelerate again towards $100,000. If you have ETH, there is no need to change your car now, just wait.
Since you have read this far, please follow and like before leaving. I am Qingtian, an old investor who sincerely wishes you to get rich!
