Is Ether price bounded to Bitcoin?

tsxtsx Member Posts: 1
Is ether price rise/fall directly proportional to bitcoin price rise/fall?

Comments

  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    Not intrinsically as you can buy it with fiat. But this is a pretty massive BTC pump with most cryptos rising on top of that also meaning that there's been a lot of fiat buy in.

    My concern though is that much of it is a self forefilling prophesy by those who've been saying BTC would double before reward halving without providing any reasoning for it. I wonder how much the prophets can sustain that BTC pump before it all comes crashing down again. And if it does come crashing down, how much of that value will flee back to fiat and how much to ether.

    Good time to short I think.
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