As we all know Bitcoin will have a lot going on Aug 1st, even though Segwit is over 80% approved, it appears we are on our way to a Bitcoin hardfork. Bitcoin will more than likely become a legacy and new coin version. This will make the old version of Bitcoin's price plummet. As we know Bitcoin and Ethereum are tethered together, they have been for some months now, I feel as though Ethereum's price will soon plummet as well.
Watch this video for an excellent analysis of what could happen to BTC come Aug 1st
Read here for my thoughts a week ago when Ethereum was at $290 @wvm/eth-is-going-down-down-down-down
Since then it's plummeted to $260. This drop I see happening for ETH is not just because of the BTC's hardfork. There are various factors as to why I think Ethereum just isn't what people think it is, the technology is not that good. There are new coins that do the job of Ethereum but only better today. There is one coin in particular that I love, not only is it a better technology than Ethereum but it has certain qualities surrounding it that make it a huge winner in my mind in the years to come, that's why I went all in on it. I sold all my ETH and bought this new coin. There are other coins that are biting into Ethereum's dominance and have the goods to take it over. The field for Ethereum is now getting crowded and it's starting to feel it, as the price is languishing.
Time will tell if I made the right decision.
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