Let me explain what’s happening with ETHBTC. Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s). Once they’ve gotten it high enough, they’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC. No one wants ETH in the long run. Plan accordingly.

It will be challenging for ETH to break ATHs because the closer you reach that psychological level, the stronger the drive to sell. It’s the Bagholder’s Dilemma (like the Prisoner’s Dilemma except with Sell/HODL).

Bitcoiners shouldn’t be worried about ETHBTC breaking the downward trendline. Ethereum has always been a vehicle for those people to get more Bitcoin. It was true for the ICO and it’s true now.

@BTCSpeedBoat Apparently they think the flippening is going to happen again. 😂