3 Reasons Why the ETH / BTC Ratio is HUGE for Crypto Markets

Transcript

all eyes on the eth bitcoin ratio ratio talk get me hot and flustered i know you're excited about that one all right bitcoin price bitcoin flat on the week a little bit up on the week started start the week at 54 000 i hit a high of 59 000 currently at 57 000 up about three to four percent on the week how about eth how's heath tracking uh doing great uh start of the week at forty four hundred dollars hit a low of four thousand dollars right at the bottom of that uh coveted omicron scare but then hit a high of four thousand seven hundred and eighty dollars and is now clocking in at four thousand five hundred dollars right now and currently

is up eight percent on the week bitcoin flat but eth going up that has some ripple effects that means all eyes continue to be on the eth bitcoin ratio because that is doing things things we haven't seen in a while yeah so the ratio hit a new high for the first time in over three years the ratio started the week at point zero seven five and hit a high of point zero eight three point zero eight three and is currently coming in at point zero eight overall up eight percent on the week we have not seen these levels of the eth btc ratio since 2017 when the eth btc ratio hits new highs to me th this is what i tweeted out the eth btc ratio is the bull market signal when each goes up

versus bitcoin it's a signal of the bull market is ongoing i'm saying that i think this is going to indicate a stronger continuation of the bull market into the future a lot of the the eth people myself included are talking about man if the eth btc ratio can just jump uh from from like point zero eight to point one like the flipping becomes real real close there is very little price discovery in bitcoin terms above these levels right now uh breaking a three-year uh all-time high is a really big deal and there's not much more left before ether actually breaks the complete and full all-time high which is just like in a flash of a pan claimed in 2017. we haven't been at this

point in the ratio for very many days either right yeah because when in 2017 it's kind of the the ratio spiked above where it is right now that was relatively brief like we're talking days right that's pretty remarkable the other remarkable thing about this chart david is look at this look at this trough this trough of disillusionment between the end of 2018 and i guess the uh the end of uh 2020 where it was like bitcoin season it was like bitcoin corners were like everything's down only versus bitcoin that's what they said and that was the narrative and i i think um the thing about narratives is a lot of people sort of get biased by the most recent narrative and and sort of project that

extrapolate that forward and so because that was the most popular narrative everything was bleeding against bitcoin the idea was nothing aside from bitcoin would would ever appreciate or ever ever retain value so what's interesting is the long i guess uh crawl through this trench this trough of disillusionment and then the like the spike up right like we are well above where we were and it this feels like i guess what i'm saying is it's a strong recovery on the bitcoin ratio so this is primed to do something and possibly continue increasing if you grow and just zoom all the way out from 2016 to 2022 where we are now it is a solid upwards trend it went up really real fast from 2016 to 20

uh 17 and 18 because that's when like ether had this very early ico mania that was completely unsustainable and then that just flash just like you know leveled off for the next like two years but after that in 2020 like it started to climb again and overall has been painting this very up into this right trend versus bitcoin its entire lifespan and this is why people were talking about the flipping before ethereum actually had its first block mind ryan i did some ta actually i'm not really much of a ta person but if you want to go on to the tweet that i followed this up there it is yeah it's a solid green arrow to the right this is fantastic this is the kind of quality ta that bankless uh subscribers sign up for here that's exactly right

like this has never happened in history just like why we're talking about this so much is bitcoin has never been flippant in the history of bitcoin it is the og coin and so if this does happen the entire world will be talking about it the entire world knows bitcoin as crypto but when something else takes the number one spot people will reconsider what it means to be crypto absolutely so that will ripple out and i think that's uh that's definitely something to watch david we are preparing some of our uh predictions for 2022 as well i know on bank list we're going to publish this toward the end of the month i'm wondering if one of your predictions is going to be a flipping in 2022. are you going to call that oof uh i think it's a greater than 50

chance yeah so do i yeah so do i so it's really hard to have conviction about the eth btc ratio and predicting the flipping is also really really hard but man are we real we're just predicting when it's going to happen right is the hard part right yes it's like okay well if you if you predict it i will say i'm not so sure and i won't predict it and that way one of us is right that would think this is always right that's how we make it ether on exchanges hitting a three-year low so as the the ratio the ether bitcoin ratio hits the three-year high we're seeing a low on the amount of eth on exchanges and that's bullish why is that bullish david because if any institution or any like newcomer wants to buy ether

they got to do it on exchanges and so the lower of each supply on exchanges the more dollar in a dollar has on the impact of eth price when it is bought on exchanges um and so this is just going into any sort of just new inflows have has outside impact upon eth price uh bullish bullish i'm really bullish also also bullish on going bankless as well it's like more of this more more more of this eth becomes non-custodial the better for the bankless journey hey we hope you enjoyed the video if you did head over to bankless hq right now to develop your crypto investing skills and learn how to free yourself from banks and gain your financial independence we

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