MarkHarvey on Nostr: In 2017 the price of $ETH reached a high relative to #Bitcoin , but has never ...
In 2017 the price of $ETH reached a high relative to #Bitcoin , but has never recovered.
The most "bullish" catalysts for ETH have turned out to be nothing burgers in terms of price. Looking in more detail...
June 12, 2017: ETH reached it's all time high relative to BTC.
$BTC denominated return since then: -55%
August 5, 2021: Ethereum implemented EIP 1559, a scheme to "burn" ETH tokens to reduce supply, rather than give them to miners as a reward, making ETH "ultrasound money".
$BTC denominated return since then: -5%
September 15, 2022: Ethereum completed the merge to proof of stake.
$BTC denominated return since then: -13%
The most "bullish" catalysts for ETH have turned out to be nothing burgers in terms of price. Looking in more detail...
June 12, 2017: ETH reached it's all time high relative to BTC.
$BTC denominated return since then: -55%
August 5, 2021: Ethereum implemented EIP 1559, a scheme to "burn" ETH tokens to reduce supply, rather than give them to miners as a reward, making ETH "ultrasound money".
$BTC denominated return since then: -5%
September 15, 2022: Ethereum completed the merge to proof of stake.
$BTC denominated return since then: -13%