Images say a lot... And this particular snapshot of the Bitcoin and Ethereum Daily Spending Volume Chart showing this year up to 23rd March 2021, and dating back to the end of July last year, is no different... This image has intrigued me in being that it is following a similar trend to another chart in the way the two coins are both equally achieving new records good and bad, high and low... Tanking - No Tanking.
Speculating on this particular chart it would be easy to suggest ETH rushing ahead in the usage stakes by way of adoption - but I urge caution.
My theory on this differential in spending between Bitcoin and Ethereum is down to hodling... Yes, hodlers and speculators keeping hold of and staking Bitcoin, but also following this is the trend in how things have progressed similarly with the way prices have either shot up or dropped. Also an interesting place is to look at how recoveries took place along both coins at the 50-day mark or within days of.
The current run and drop follows a similar 50-day point which saw a downward spiral see BTC rocket up around 85 to 90-percent in a short space of time.
Now I am no financial expert but if that surge was to happen again and start tomorrow, it is not hard to imagine BTC hitting around USD$90k to USD$120k by September/October this year (2021).
Ethereum would also surge up possibly to new highs in the region of USD$5k on the back of the BTC bounce, so one can only speculate on what would happen to the likes of Litecoin, BitcoinCash, DASH, and the rest... including Dogecoin.
What do you think?
Also please check out my main sponsor StormGain who have a great welcome package for you. See the invite link below.
StormGain - Wallet - Free Cloud Mine - Fun way to trade and invest with many perks.
*** More Useful Invite Links ***
Join Speed Satoshi via my invite link below. Use just the one login for all faucets...
Your link to Speed Satoshi
Express Crypto - Multi crypto faucet, tasks, games, chat, support - huge community - massive crypto and faucet inventory and micro wallet. One of, if not the best and longest running crypto earner - In house exchange and quick withdrawals - Build your own faucets and link - Click here to join.
Also two great long running faucets can be found at links below...
Faucet Crypto - Multi Cryptocurrency Faucet - Tasks and Daily Bonus structure chat and support. Low withdrawal threshold - Click here to join.
Free Bitcoin - Old faithful... One of the oldest running free Bitcoin faucet - Click here to join
Bee Coin Early Entry Mining App
Like Pi Network - Get in early and start mining BEE before it trades on exchanges. 10-million already joined - use xtrm as your code to download and use the app.
Join BEE here - BEE Cloud Mining App
