Most of you probably know that Ethereum is (currently) and has been the playing second fiddle to bitcoin,
the king of blockchains, in terms of total marketcap, since the original ICO of all time, ethereum. You may not know that when Vitalik released his ethereum cryptocurrency project to the public, he allotted 2,000 ethereum tokens (ETH) for every 1 bitcoin (BTC) invested. At the time of the historic first initial coin offering in July 2014, bitcoin was trading for around 600 dollars each:
I was around for that offer. I considered it. Yes I even studied it. And I passed. Sadly. To put a price tag on that decision, a mere six hundred dollar investment (1 bitcoin) in this budding platform would now, about 3 years later, be worth approximately $2,300,000 today. I decided to hold onto my precious few bitcoins because, well, I just couldn't get to a place of full confidence that this 19 year old kid would deliver a working product. As I look back, I remember where I was when I decided against it. It was a stunning decision.
Not to worry, I've learned how to trade crypto been blessed by other crypto gains and of course, experience in this crazy wild west. So with that insight, I wanted to point out an interesting change that has occurred in the last month. During a rough and tumble time for bitcoin, something has been slowly shifting: the leader's value has been quietly leaking, bleeding really, into ethereum. Below is a price chart from today showing the ever marching growth of ETHBTC :
So since December 7, 2017 when .023 btc would get you 1 whole ethereum, 2 months later it will now cost you .113 btc. Maybe a 5x return is nothing in these days of multi-zillion scam coins but I think this is a significant shift in the marketplace. While the USD balance has mostly tracked bitcoin's moves, the cost of eth in terms of bitcoin is getting worse by the day. It would appear the more experienced bitcoin investors (newbs don't jump into the ETHBTC market) are steadily moving their bitcoin hodlings to ethereum. And its getting more expensive to do that by the day. You may want to take cover!
Thanks for reading and keep an eye on ETHBTC. If the price gets to .1732, ethereum will have a most historic day.