Quote (Duckling @ May 10 2021 12:03pm)
I’m wondering myself how long this eth surge will last in relation to other big coins, specifically btc and doge.
the eth breakout is likely to hit a correction sooner than later. there's not enough eth 2.0 news or other new tech lowering the gas costs to justify this price raise imo. seems more like some serious institutional holding is causing low supply to spike the market. that and maybe people finally realize just how good eth is and are starting to look beyond BTC for the king in the crypto space once BTC hits its peak.
ADA is also popping off recently. seems buyers are finally starting to stake out long term buys for cryptos that have a chance to isolate a niche space in the blockchain world outside of straight currency and holding value items like BTC.
i wont be shocked if we see a drop to high 2k ETH prices before it reaccumulates for its final bull run of the season, same with BTC, but i also wont be shocked if it just steadily marches up to 8k before ending the bull run as institutions cash out to sit on the sidelines until the heart of bear season.
news on eth 2.0, hype, and adoption of smart contracts could drastically shift this market.