After a series of uncanny predictions on Litecoin and Ripple, I wanted to share my latest trade—I have gone big on Ethereum.
I rode the Ethereum wave from the start of this year, when it seemed almost invincible, and sold near the top. It was a sobering experience seeing this irresistible force meet the immovable object that is Bitcoin, and watch the value of Ethereum in satoshis steadily fall for now going on six months. It was a lesson for me to never underestimate Bitcoin, and to always hold a significant portion of my portfolio in it, no matter what.
It's no secret that I am quite critical of Ethereum as a project, and have little faith that they will be able to practically scale. At the same time, this doesn't seem to be stopping Bitcoin, whose scaling problems are just as bad, and which has no problem making higher and higher highs.
It looks like we are at, or near the euphoria stage in this bull market, and with parabolic moves being made all over the cryptocurrency ecosystem, I can't see how we won't see the same for a project like Ethereum, which, for all it's flaws, and for all the competition for it's top spot from other very promising projects, is still the backbone of a large part of this space simply as being the platform for ERC20 tokens.
A look a Blocktivity.info shows that Ethereum should currently be 12x the value of Bitcoin, given the relative number of transactions they process. I think, on a spike, it could flip Bitcoin, although probably only briefly.
Remind me in 1 month!
