{"id":470848,"date":"2021-09-03T20:00:40","date_gmt":"2021-09-03T20:00:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=470848"},"modified":"2024-06-11T13:58:20","modified_gmt":"2024-06-11T13:58:20","slug":"ethereum-accumulation-cylinde-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-accumulation-cylinde-bitcoin\/","title":{"rendered":"Ethereum “Accumulation” Nears Liftoff Phase: What This Could Mean For Bitcoin"},"content":{"rendered":"

The conversation across crypto is no longer only about Bitcoin<\/a>. Ethereum is the most important cryptocurrency to the ecosystem since the former’s creation, and has recently stolen the show.<\/p>\n

On the ETH versus BTC trading pair, the recent market structure resembles an accumulation pattern moments before the liftoff phase. If the pattern is accurate, a market cap “flippening” could soon become a narrative that rivals the story of digital gold itself.<\/p>\n

Ethereum, Bitcoin, And Disrupting Digital Finance<\/h2>\n

During the year 2020 and with the onset of the pandemic, all things digital became far more important to the global ecosystem \u2013 and no more notably than in finance.<\/p>\n

Among the other reasons for digital assets to thrive in the 2020-forward economy, was due to the abundance of fiat value<\/a> being added to the balance sheets of the US Fed. Gold in theory should thrive in such a situation, but instead the world has turned to Bitcoin and its altcoin brethren as the up and coming store of value.<\/p>\n

As important as this changing of the guard has been for crypto overall \u2013 and the fact it could not have been done without Bitcoin \u2013 it is Ethereum that is breaking on through to the mainstream<\/a>.<\/p>\n

Related Reading | The Chart Pattern That Takes Ethereum To $10K<\/a><\/i><\/b><\/p>\n

At a price of $50,000 per coin, corporations and institutions are looking at BTC. They are also looking at Ethereum, but it is the network’s users minting NFTs or disrupting traditional finance via DeFi that are the driving before behind the latest trend.<\/p>\n

At under $4,000 per coin, each ETH is still priced feasibly enough that someone can afford a whole one. Buying up 32 of them, lets the wealthy earn an APY back in rewards through staking. It is regularly in the demand<\/a> for everyday use in transactions as gas, and fees are almost always high forcing users to pay a hefty sum of ETH in exchange.<\/p>\n

All of these factors combined could explain why on the ETHBTC trading pair, the asset is in a clear accumulation pattern, and why the digital gold narrative could soon turn toward a “flippening” narrative instead.<\/p>\n

\"ethereum<\/p>\n

Is this Livermore \"speculative chart\" valid? | Source: ETHBTC on TradingView.com<\/a><\/pre>\n
Could Accumulation On The ETHBTC Pair Lead To A Flippening?<\/h2>\n
Narratives themselves can be self-fulfilling prophecies if enough believers buy into the tale. The above chart suggests that many have bought into the tale of Ethereum itself, and a wave of more could come piling in.<\/p>\n
What the chart above also depicts is the ETHBTC trading pair in a Livermore Accumulation Cylinder<\/a> that technical analysis pioneer Jesse Livermore popularized long before Ethereum was ever launched.<\/p>\n
Related Reading | New To Ethereum? Learn To Trade With The NewsBTC Trading Course<\/a>
\n<\/i><\/b><\/p>\n
While Ethereum is unlikely to trade higher than Bitcoin on a per coin basis, the total market cap could “flippen” if the above pattern is accurate. The market cap of ETH is more than half of BTC currently, but there are far more coins circulating than in Bitcoin.<\/p>\n
At current issuance and market cap parity, Ethereum would need to be slightly more than 2x against Bitcoin<\/a> to become the top ranked cryptocurrency by market cap. Given the long stretch of over performance since the asset’s inception, the number doesn’t seem that far off now, does it?<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or via <\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a>. Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The conversation across crypto is no longer only about Bitcoin. Ethereum is the most important cryptocurrency to the ecosystem since the former’s creation, and has recently stolen the show. On the ETH versus BTC trading pair, the recent market structure resembles an accumulation pattern moments before the liftoff phase. If the pattern is accurate, a market cap “flippening” could soon become a narrative that rivals the story of digital gold itself. Ethereum, Bitcoin, And Disrupting Digital Finance During the year 2020 and with the onset of the pandemic, all things digital became far more important to the global ecosystem \u2013 and no more notably than in finance. Among the other reasons for digital assets to thrive in the 2020-forward economy, was due to the abundance of fiat value being added to the balance sheets of the US Fed. Gold in theory should thrive in such a situation, but instead the world has turned to Bitcoin and its altcoin brethren as the up and coming store of value. As important as this changing of the guard has been for crypto overall \u2013 and the fact it could not have been done without Bitcoin \u2013 it is Ethereum that is breaking on through to the mainstream. Related Reading | The Chart Pattern That Takes Ethereum To $10K At a price of $50,000 per coin, corporations and institutions are looking at BTC. They are also looking at Ethereum, but it is the network’s users minting NFTs or disrupting traditional finance via DeFi that are the driving before behind the latest trend. At under $4,000 per coin, each ETH is still priced feasibly enough that someone can afford a whole one. Buying up 32 of them, lets the wealthy earn an APY back in rewards through staking. It is regularly in the demand for everyday use in transactions as gas, and fees are almost always high forcing users to pay a hefty sum of ETH in exchange. All of these factors combined could explain why on the ETHBTC trading pair, the asset is in a clear accumulation pattern, and why the digital gold narrative could soon turn toward a “flippening” narrative instead. Is this Livermore “speculative chart” valid? | Source: ETHBTC on TradingView.com Could Accumulation On The ETHBTC Pair Lead To A Flippening? Narratives themselves can be self-fulfilling prophecies if enough believers buy into the tale. The above chart suggests that many have bought into the tale of Ethereum itself, and a wave of more could come piling in. What the chart above also depicts is the ETHBTC trading pair in a Livermore Accumulation Cylinder that technical analysis pioneer Jesse Livermore popularized long before Ethereum was ever launched. Related Reading | New To Ethereum? Learn To Trade With The NewsBTC Trading Course While Ethereum is unlikely to trade higher than Bitcoin on a per coin basis, the total market cap could “flippen” if the above pattern is accurate. The market cap of ETH is more than half of BTC currently, but there are far more coins circulating than in Bitcoin. At current issuance and market cap parity, Ethereum would need to be slightly more than 2x against Bitcoin to become the top ranked cryptocurrency by market cap. Given the long stretch of over performance since the asset’s inception, the number doesn’t seem that far off now, does it? Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":469072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,1144,78790,6664,8323,65296,1946,8686,4524,76835],"class_list":["post-470848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nEthereum "Accumulation" Nears Liftoff Phase: What This Could Mean For Bitcoin<\/title>\n<meta name=\"description\" content=\"The conversation across crypto is no longer only about Bitcoin. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum “Accumulation” Nears Liftoff Phase: What This Could Mean For Bitcoin","url":"http:\/\/uniquehot.com\/news\/ethereum-accumulation-cylinde-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-accumulation-cylinde-bitcoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/bitcoin-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/bitcoin-1.jpeg?fit=1200%2C900"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bitcoin","btc","btcusd","btcusdt","crypto","eth","ethbtc","ethereum","ethusd","xbt","xbtusd"],"dateCreated":"2021-09-03T20:00:40Z","datePublished":"2021-09-03T20:00:40Z","dateModified":"2024-06-11T13:58:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum “Accumulation” Nears Liftoff Phase: What This Could Mean For Bitcoin\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-accumulation-cylinde-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-accumulation-cylinde-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/bitcoin-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/bitcoin-1.jpeg?fit=1200%2C900\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"eth\",\"ethbtc\",\"ethereum\",\"ethusd\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-09-03T20:00:40Z\",\"datePublished\":\"2021-09-03T20:00:40Z\",\"dateModified\":\"2024-06-11T13:58:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/bitcoin-1.jpeg?fit=1200%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470848"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=470848"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/469072"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=470848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=470848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=470848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}