Realistically Is Eth Headed For 8k?
Realistically Is Eth Headed For 8k?
Given that Eth hasn’t even hit its 2022 ATH despite BTC being almost double its 2022 ATH what can we realistically expect from Eth this cycle? Can it break its ATH? Is it headed the same way as BTC almost double its 2022 ATH?
How is it that so many of you are invested in crypto but can’t even do a fundamental analysis on crypto?
ETH Market cap is $509 billion with a supply of 120 million
BTC Market cap is $2.3 trillion with a supply of 19 million
What causes prices to go up? Supply and demand. Supply economics are complicated in crypto because it’s highly fragmented, but it’s a critical metric. The MAIN reason BTC is so expensive is because of its scarcity. ETH has numerous variables that affect supply economics: ETH locked in Staking, lost ETH, and, of course, ETH holders. How much supply is in exchanges/OTC exchanges is what determines price.