Reloading the weapons (part 2. BTC vs. ETC)

Today we look closely at BTC vs. ETC.

Why does author place them against each other? Isn’t it that ETC is somehow fighting for what they assume “ETH has lost”, so basically fighting against ETH?

Actually, not. ETH hasn’t lost anything, it’s gaining more and more traction of what its real goal is. As the author wrote in the subreddit: “Ethereum. Applications on the blockchain. governed by the decentralized community” it is going to be the real (r)evolution.

But back to BTC and ETC.

There is one important similarity between them. Namely, the lack of innovations and even resistance to it.

The subtle confirmation for a smart investor is the decision of ETC community to stay in PoW (proof-of-work) and resistance to switch to PoS (proof-of-stake). Besides, quite obscure comments in ETC subreddit, where the people clearly demand just to take and use the code from ETH developers. These messages just add more spices to the already strange dish. All these should be a big “warn” sign for any reasonable investor. Well, the author doubts there is any serious investor in ETC anyway..

BTC also has shown similar resistance to innovation (or inability to develop and deploy them).

So, both of them are somehow not willing/able to innovate.

But even more important. If the systems goal isn’t to innovate, why the people are investing money into it? Well.. That is good question, indeed.

The answer is pretty simple. You either invest in innovation or you gamble.

BTC and ETC are both gamblers paradise.

One (BTC) is older and with more resources. Another (ETC) is younger, more dynamic. This difference is easy to notice on price volatility.

But who will win?

Let’s check the chart. It’s amazing how many questions can be answered with Elliott Waves glasses.

First, BTC (lets show respect to the older one).BTCUSDMidTermAs long-term readers remember, we were expecting this drop from triangle for quite some time. Now it happened and, check the chart, the extension of the wave (c) is Fibonacci 0.618 of the wave (a).

If anyone would ask the author: “give us in one sentence analysis for BTC”, the answer would be “it’s gonna rise to at least 670”. However, one more sentence should be added. If we go above 700 (is very likely) expect to see the new high, at least above 800 USD.

Now, that doesn’t look like our “aging guy” is going to die soon.

So let us turn to ETC, young and weird one.ETCBTCMidTermAs you see on the chart, the emotions in ETC is pretty easy to read. When we were making the top, the optimism was extremely high with many believe ETC can replace ETH at once. This and also almost finished 5 waves structure let the author to call for the possible top at around 0.0065. The voices in ETC land have become more quiet since them. Still, it’s far from being depressed.

This is, however, how financial markets work. They move (taking Elliott Waves shapes) between extreme optimism and deep pessimism.

We need yet to see this deep pessimism in ETC. So the author doubts the decline is over. At least the famous “Pump and Dump” master for penny stocks Barry Silbert isn’t giving up ( Not yet. When we see here the complete give up (or he is suddenly interested in some other coin), we could consider the bottom in ETC.. If there is any life sign in ETC at this point is another question..

Bottom line. As it stays now, it looks more likely that BTC will win this fight. The ETC will disappear, BTC will make new high. At the same time ETH..

What will show up in ETH, we will cover in one of the next updates.

Enjoy the “suddenly” returned summer time. Everything keeps changing, indeed..

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

3 thoughts on “Reloading the weapons (part 2. BTC vs. ETC)”

  1. i’m surprised that you believe BTC is more gambling than innovation!

    i was with bitcoin long before ethereum, and i still believe that bitcoin will stay as a leading cryptocurrency.

    i have very high expectations for both ethereum and bitcoin; i think in the future we will see that one does not have to disappear for the other to succeed.

    regarding ETC… it should not have been born..


    1. Well, actually all crypto at the moment is pretty much heavy speculation. I agree on it. Some are more gambling, others less.

      The key difference, do they bring any innovation at all?
      Is this innovation short-time (like STEEM) and will be overtaken by others or has longer-time perspective and can be pushed further (this is where ETH is)

      The innovative time in bitcoin (as it seems to me) is mostly over..
      I really doubt they will deliver anything really innovative anymore.
      But again, this is how I perceive the current situation. Might be I’m wrong.

      Yes, they have taken important place in cryptouniverse and it’s unlikely that ETC (or anyone else) will have any chance to take it over in the nearest future.

      But the vast majority of BTC stackholders are too much concerned about the profits only. Too many limits and too little space for innovation..

      The same is for ETC holders. The minority there is for moral/tech vision. The vast majority is just for wild speculations and are concerned about the money only.


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