Bitcoin continues to hit all time highs, and altcoins are also rising. The only big asset that is moving sideways is ether (ETH), much to the chagrin of Ivan on Tech. In one of his recent videos, he predicted that ether would go to $800 easily once it broke out of the $700 range, and if it broke above $831 that it would "snap to $1000." As it stands, ether can't break the psychological level of $750 even in this New Year bull market.
So much for trusting Ivan on Tech's market analysis. He's always been one of those people who overthinks analysis. And now that he's hawking some broken analytics tool he built, he's likely to provide more sesquipadelianistic nonsense to try to sell you bullshit.
Why is the rally skipping over ETH? Will ETH snap out of its slumber once BTC evens off? It all remains to be seen, but here are my predictions:
- Ether will move sideways for a while. Why? Because Ivan on Tech said that it wouldn't, and Ivan is a piece of shit.
- Ether will snap to $1000. Once ETH decides to move, it will snap very quickly to the psychological level of $1000. There is a lot of retail discovery happening about defi and ether, and more new investors may be interested in ETH than in BTC.
- ETH will be less volatile than bitcoin. Bitcoin is an asset to save and trade. Once people really learn about defi, they will be using ETH for longer periods of time.
I've discovered that trusts and ETNs based around ether move up faster than those based around BTC. If you want to get some great fiat gains off of crypto, you should go to ETH. But wait until the next pullback. BTC will go to $30k, we may get some rise in alts, then BTC will correct back to the low $20s and pull everything down with it. That's the time to snap up the ETH.
The rally may be skipping ETH for now, but it should give you more time to accumulate. Thank the crypto gods.