We recognize that, in the world of cryptomonies, there is a diversity of analysts and opinions to take into account in order to have an idea of what can happen with the market. However, in this opportunity, we will talk about the opinion of a Bitcoin whale, prominent in social networks, about what could happen with the price of Ethereum.
Recently, in a series of tweets the anonymous investor and trader Joe007, let it be known why he thinks people will lose interest in Ethereum and, therefore, it will not return to its historical peak.
Bitcoin whales and ETH invest in 3 altcoins, know the reason
Why doesn’t this Bitcoin whale believe that Ethereum can surpass its historical peak?
The whale says that, in the long run, the companies that build Ethereum will probably look for alternative platforms with lower transaction fees. Joe007 said that as rates get higher, so does the incentive to look for alternatives.
In addition to Ethereum, Joe007 stated that he also does not believe that Bitcoin Cash (BCH) will return to its historical high. This is supported by the fact that traders who are easily persuaded and looking to make money will quickly shift their attention to the new alternative currencies.
Joe007 is also a critic of decentralized finance (DeFi), describing it as a marketing campaign.
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Although he’s ultimately optimistic about Bitcoin, Joe hasn’t made any predictions about where BTC’s price might go.
„Bitcoin is much more than a currency. It’s a whole new social technology: non-political, non-seizable, self-sovereigning money. I hope it will precipitate humanity’s transition to a completely new economic and social order that will emerge slowly over time,“ he said.
So, although it may seem pessimistic about other cryptomonies, this whale still holds out hope for the technology that underpins most cryptomonies. Although, evidently, it has a preference for Bitcoin.
Right now, Bitcoin is changing hands for a price of about US$ 9,683 after a 1.33% increase in the last 24 hours. Since the beginning of the week it has grown by 5.67%. In the same period, Ethereum has grown 25.65%. At the moment its price is around US$ 295, after a growth of 4.2% only in the last 24 hours.
Do you think that this Bitcoin whale is right to say that altcoins like Ethereum and Bitcoin Rush will lose their value over time? Will there be more attractive alternatives?