Quote from: Ojengonggu on Today at 08:18:02 AM

Quote from: RussianEnglishTranslation on June 22, 2022, 05:14:29 PM

I had a position in a DeFi platform on BTC vs ETH dominance and I bet on ETH and closed my position. I am no longer bullish on Ethereum and sold it for more FTM and ICP. I think BTC is going to crush ETH in 2022.

No it won't be possible and I'm sure bitcoin will never destroy ethereum.

I don't think Ojengonggu means that Bitcoin will destroy Ethereum, but that BTC will crush ETH this year, which I think is quite likely. Similar to 2019 during "Bitcoin season" when BTC bounced back from $3.2K to $14K, while ETH fell 60% from 0.04 to 0.016. Ethereum price still doubled against USD, but given Bitcoin had quadrupled, it's far to say Bitcoin crushed Ethereum that year.

Even if your Ethereum doubles in value against the dollar, if it loses half of it's Bitcoin, it means you could instead be buying twice as much Ethereum for the same price, or buying it half the price if you'd bought BTC instead. Bitcoin season has been overdue since 2021 and we haven't seen one since 2019, so I think a Bitcoin recovery will lead ETH to drop further against BTC.