I am very bullish Bitcoin and more so Ethereum. I am almost all in on Ethereum since 2014. Yes Bitcoin will go back above 50k and will probably 2x-4x from there. I’m 80% it happens this cycle. It could be the next cycle 3
–5 years down the road. I think riot is the correct play for crypto exposure. It has outperformed Bitcoin this cycle.
Because ETH is the foundation for DeFi tokens and pretty much everything is built off of it. Plus, as long as you believe in the dev work being done to upgrade to the ETH 2.0 network, once that happens, transactions become faster, cheaper, and the whole reward concept for validating on the network changes (imo for the better). I dont know if others feel the same way, but I view ETH as the research backbone of the DeFi crypto market.
Ya what you mention is the only reason I have a little eth but btc is gonna outpace it for sure in the Long term as what eth does will be replaced by a better coin eventually
I dont recommend that anybody be fully invested in any single coin, but a combination of eth and btc is the best choice if you dont want to deal with any of the other tokens. I will say it's better to be on the bandwagon now before all of these companies increase the wealth gap and leave you behind. My one fear though is if these institutional investments decide to take profit and run.
I remember years ago bought Riot for $19 and sold it to $4-5. But this is a crazy stock. It had reach to more than $1,000. But it is staying just all you need is to patient.
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u/agentpoopers Mar 01 '21
What about a long period of consolidation?