Hi, Chico Airborne how’s it up in the sky, and those stuck on the ground looking to get to the moon, here’s the fastest way to get your wings. Shoot still stuck on the ground, watch this content then, cuz its time for Chico Crypto! Well, whaddya know, Chico called it before it happened with this video published on Tuesday, Coinbase and Visa are deepening their relationship, after Visa announced a partnership Circle, to get their USDC integrated across crypto payment cards.
This is very bullish for Ethereum, as this is the first time Visa has opened up their network to a digital currency, and as we know USDC is built on top of Ethereum. So, theETH2 and the beacon chain are running successfully, by the way, my bravado is almost done, video incoming soon and enterprises are all looking at ETH across the board you would think, in 2021 the flipping conversation starts once again? Flippening? What is that Chico?? Well once, long ago in 2017, Ethereum almost did the unthinkable & flipped bitcoin in market cap.
This was mid-ICO hype for Ethereum, and mid-BTC breakdown and split with Bitcoin Cash the perfect storm. There were even websites created back then, flipping watch, which tracked it because everyone thought it was going to happen.
But it didn’t Ethereum slid, and it kept on sliding, although since the beginning of 2020, the dominance has started to bubble once again, there is still an over 50 percent gap between the two. So, what’s it going to take for Ethereum to FLIP BTC? And if that happens what price will Ethereum be??
Well, 1st things 1stEthereum will not flip bitcoin in bearish downwards markets, the markets will have to be bullish mid-2017 hype, when ethereal almost flipped is a pure example of that. So, we are going to need bullish, bullish market movements & it’s already looking like 2021 is going to be providing that type of atmosphere.
But just like in 2017, ethereal is going to need something that bitcoin doesn’t that captures the attention of the markets. 2017, it was ICO hype. What could it be this time around in 2021?? Well, if you have paid a lick of attention to my channel, you already know what it is, I’ve been saying it for over a year now, and in that time it’s already had 2 sector pre-pumps to show the world what it was.
I’m talking about DeFi. Decentralized Finance, its something that BITCOIN doesn’t have in any robust form, while Ethereum DeFi growth is showing no signs of slowing down. So, let’s just look at our friend Google trends, and the term DeFi over the past year, as we can see the Summer DeFi bubble hit causing increased awareness, but since BITCOIN has taken the limelight, popularity dropped down to lows for the year but as we can see things are starting to pick up.
Now look at ICO searches in 2016 before the real big hype in 2017, it had a similar mini peak, although in November and then crashed back to lows. But just expand it out, ICO us into overdrive through 2017 will this happen to DeFi in 2021? I think so So the competitive landscape of DeFi is once again getting fierce, with solutions, protocols, enhancements, coming so frequent, daily its getting hard to keep up with.
Although the more that’s built, the more use, the more pressure put on the ethereal chain Heres how this next run is going to go the competitive landscape of DeFi will once again get fierce, with solutions, protocols, enhancements, coming so frequent, daily it might make newbies head spin but newbie entrance into the markets won’t be like 2017.
Although, like 2017 it will come from your typical app, Coinbase, Now Paypal and the others getting ready to announce support, unlike last time the transfer of newbs investors from just the supported crypto cryptocurrencies in those apps to further trenches of crypto will happen in a flash compared with the last run. You already have access to Ethereum and parts of its DeFi on Coinbase eth 2.0 staking is coming to Coinbase soon & Paypal was able to launch with Ethereum support.
The education is soo much better, even with the crap tubers so, another DeFi bubble won’t shock me, as just like ICOs, we will have more than a few ups and downs throughout the year. Although the pressure of not only retail DeFi on Ethereum manner, but also enterprise are going to test the protocol, and can it scale? Will once again be a controversial and headlining topic, although in 2017 the big question was can Bitcoin scale, not ETH.
And Vitalik put out a tweet with an updated roadmap, which makes me think, yes it’s going to scale. He said The roadmap I made back in March–updated–with very rough and approximate progress bars showing what has been done and some of the recent tweaks to the roadmap itself. A lot has been accomplished, but still, a lot remains to be done! And he includes the updated ETH2 roadmap, and in it are some very interesting things.
The first vita like added another tweet he said Oh, and also_class just published his long-awaited EIP 1559 review! Let’s work hard and get this important economic upgrade into ethereal soon Economic upgrade??? Well if you didn’t know this is a burn upgrade, where a portion of the transaction fee, called the base fee will be burned and gone forever. effectively reducing the supply, and giving another reason for the flip to happen.
And vitalik wants this upgrade soon! But as chico does, we gotta take a wholesome look going into the roadmap, it’s much more than just an economic upgrade it contributes to a short term usability upgrade usability? Well, it all goes back to those transactions & gas fees, besides burning part of the fee, EIP-1559 allows wallets and dapps to reliably ensure that all transactions of its users are included in the blockchain, without requiring their customers to pay excessive fees, and without the need to develop advanced transaction and prediction algorithms for accurate cost estimation.
It changes the fee market structure, its lowering the costs that us users of the protocol will have to pay by being more efficient. Ok, that’s good & gravy, but with Layer 2, and optimism, won’t those fees already being pretty damn low? As if you go back to the roadmap, it also says this usability relief is coming for layer2?? And then also in the roadmap, you see rollups mentioned down the road.
Are they not going to be fully ready this quarter like I predicted!? Just support day already. But now let’s get into the juicy stuff of this episode, what caught your eye, the price. This is all theoretical and based on my love of ETH, they smash the roadmap and if bitcoin continues bullish following the 4-year extended cycle. So, if BTC stayed exactly the same.
What it is today just above 19k, that puts its market cap over 353 billion dollars. So we can assume around 115 million ether will be out there in about 6 months, If everything goes like 2017, and Ethereum pushes right back to dominating bitcoin, that would put the price per Ether at around 3000 buckeroos. But remember that is just if BITCOINs price stays at around 19k, its current market cap that is most likely not going to happen.
What’s going to happen to BITCOINs market cap in the next 6 months? Double?? That would put the market cap above 700 billion and each bitcoin just under 40k!! And if Ethereum is going to push up and possibly flip, Ether would be pushing 6k per!! There’s a chance that happens, but here is my personal thoughts on the matter 1 trillion dollar market cap combined, that is what BITCOIN and Ethereum will be fighting over in the first 6 months of 2021.
And I foresee bitcoin-only slightly dominating this down the road, in 6 months, 60 percent of that trillion, which would give bitcoin a 600 billion dollar market cap, that puts Bitcoin at about 33000 per coin.
But that would give ethereal a 400 billion dollar market cap, which would put Ether at about $3500 per coin and the flipping talk might really begin again. Cheers Ill see you next time!.
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