Well, we are not.Below is a simple illustration of the grand potential of a REAL alt coin bubble. The last time we were in alt coin bubble territory;Ethereum reached an ETHBTC ratio of 0.15 in June 2017, corresponding to a value of 350 USD at the time.Ethereum reached an ETHBTC ratio of 0.12 in January 2018, corresponding to a value of 1365 USD at the time.Note: This monthly chart does not show the EXACT tops.As of writing this post, we are at an ETHBTC ratio of 0.032.Serious alt coin “bubble territory” given the current Bitcoin price, would bring Ethereum back to an ETHBTC ratio of 0.1+ or close to it, translating to a current value of between 3700 and 5550 USD!NOTE: The above calculation does not take into account the potential price fluctuations of Bitcoin in the near future. The calculation is based on the current Bitcoin value of 37000 USD.TLDR; Strap your seatbelts and sit tight, but keep your eyes open and hands on the wheel.
Submitted January 07, 2021 at 06:14PM
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