Is anyone else noticing this with ethereum?

in #money8 years ago

If you've followed bitcoin since the start of December 2016, you saw how bitcoin went from $750 all the way to where it is now fluctuating at $3000. One thing I noticed is that how bitcoin made it's increase during that period, ethereum went up very similarly.

Bitcoin (December 1st 2016 - Today)

Ethereum (December 1st 2016 - Today)

This makes me feel that ethereum will soon become the established cryptocurrency front runner and when the bitcoin price rises, you can expect ethereum to do the same. Obviously there are other factors that also determine the growth/decrease so I wouldn't like to make any bold claims about its status in the next month or so however, from the chart pattern analysis, it does suggest it's not too late to invest in ethereum.

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Although the mechanism behind cryptocurrency is different to other investment markets, there always comes a point when human psychology kicks in and people start pumping money into a "better value" proposition.

Like in real estate, one suburb will start to appear over-priced so everyone starts buying in the suburb next door. The same will probably happen to Ethereum if people think Bitcoin is over-priced.

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I agree with you - not too late to purchase ETH.