What will be the future of bitcoin as investors shift their focus from bitcoin to the second-largest crypto asset by market capitalization.
According to research note published by CryptoSlate.
The exchange, citing various data such as options skewness, portfolio adjustments and whale stocks, noted that the launch of the ETF is likely to boost the long-term price of Ethereum.
And as such investors are selling bitcoin in their possession, to acquire Ethereum and I begin to doubt the future of bitcoin!
Bitcoin and Ethereum are two different things. Bitcoin is a monetary network and hard money without inflation in digital form. On the other hand, Ethereum is something like a centralized company managed by a small group of people. In my opinion, Ethereum is a scam because they use the Bitcoin narrative to deceive people into buying their pre-mined ETH. When Ethereum was launched, it started with a pre-mine of 70 million ETH. They previously claimed to be the world computer, and now they claim to be ultrasound money, etc. This cannot be sound money; it is just like fiat money where a small group of people in the central committee determines monetary policy. So far, they have changed the supply policy seven times, and just a month ago, they entered into high inflation again. Anyone who understands economic principles knows that harder money always wins, just like in mathematics 2 and 2 are 4. Bitcoin is the hardest money the world has ever seen. Bitcoin competes with gold and real estate, not with tech companies like Ethereum, and it is likely to surpass the market cap of gold in the next 10-15 years. As for the future of Ethereum, it is likely that a better company like Solana or Kaspa, etc., will emerge and surpass them.