CryptoCobain says bear case for Bitcoin is Ethereum

The well-known trader and analyst CryptoCobain shares his view on the potential threat of Ethereum (ETH) to Bitcoin (BTC). In a conversation with the alias trader, Three Arrows Capital CEO Su Zhu and crypto researcher Hasu, he explains how Ethereum could disrupt Bitcoin's bullish momentum. CryptoCobain suggests that if Ethereum can capture Bitcoin's market value for a longer period of time, it could jeopardize the success of major crypto assets as BTC holders buy and sell their assets for ETH in the long run. I think a lot of people holding Bitcoin are never in a sell camp anymore. And in the worst case scenario, they'll say, “ We need to split it into Ethereum too '' and get another 1% share of their cash. For a longer period of time, I think Ethereum is the bear case for Bitcoin. According to CryptoCobain, Ethereum will inevitably temporarily reverse Bitcoin's market capitalization, but will only threaten Bitcoin if it can support this growth. A temporary reversal is not a problem for Bitcoin / USD … I currently think reversal is inevitable, but I think it will be incredibly temporary. I think you're going to have a great devastation, I think 'ETH hit him. the stop will be just before or just after the Bitcoin boom. “The crypto influencer believes the reversal will occur, in part because Bitcoin's addressable market value as a gold substitute is around $ 10 trillion while Ethereum's addressable market value is 'everything'. He compares it to the early stages of the Internet, which they thought would exist, but eventually swallowed this environment almost completely.

Join the Discussion

Back to top