We recognize that, in the world of cryptocurrencies, there are a variety of analysts and opinions to take into account to get an idea of what can happen to the market. However, this time, 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, anonymous investor and trader Joe007 revealed why he believes people will lose interest in Ethereum and thus not return to its all-time high.
Why does this Bitcoin whale not believe that Ethereum can exceed its historical maximum?
The whale says that in the long run, companies that build Ethereum will likely look for alternative platforms with lower transaction fees. Joe007 He said that as rates get high, the incentive to look for alternatives also grows.
In addition to Ethereum, Joe007 stated that he also does not believe that Bitcoin Cash (BCH) will return to its all-time high. This is supported by the fact that traders who are easily persuaded and looking to make money will quickly switch their attention to the new alternative currencies.
Joe007 is also a critic of decentralized finance (DeFi), describing it as a marketing campaign.
Do you have any thoughts on BTC?
Although he’s bullish on Bitcoin in the long run, Joe hasn’t made any predictions about where the price of BTC might go.
“Bitcoin is much more than a currency. It is a completely new social technology: non-political, non-confiscable, self-sovereign money. I hope it will precipitate humanity’s transition to an entirely new economic and social order that will slowly emerge over time.“, said.
Thus, although it may seem pessimistic with other cryptocurrencies, this whale continues to maintain its hope in the technology that supports most cryptocurrencies. Although, obviously, he has a preference for Bitcoin.
Right now, Bitcoin is changing hands for a price close to US $ 9,683 after a 1.33% increase in the last 24 hours. Since the beginning of the week it has grown 5.67%. For its part, Ethereum in the same period has grown by 25.65%. Right now its price is around US $ 295, after a growth of 4.2% in the last 24 hours alone.
Do you think this Bitcoin whale has reason to say that altcoins like Ethereum and Bitcoin Cash will lose their validity over time? Will there be more attractive alternatives?