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%
Published at
2023-05-01 00:21:38Event JSON
{
"id": "44e2895e5d9adc54b5643039d32c5d96feacb5784660e93669a360db0d8a7ae8",
"pubkey": "eed3da2505fe83a9235203bdc37ef62e227475d60dc536b0dbaa5700fdcfdfb8",
"created_at": 1682900498,
"kind": 1,
"tags": [
[
"t",
"bitcoin"
]
],
"content": "In 2017 the price of $ETH reached a high relative to #Bitcoin , but has never recovered. \n\nThe most \"bullish\" catalysts for ETH have turned out to be nothing burgers in terms of price. Looking in more detail...\n\nJune 12, 2017: ETH reached it's all time high relative to BTC.\n\n$BTC denominated return since then: -55%\n\nAugust 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\".\n\n$BTC denominated return since then: -5%\n\nSeptember 15, 2022: Ethereum completed the merge to proof of stake.\n\n$BTC denominated return since then: -13%\n\nhttps://nostr.build/i/nostr.build_305b7d4ed3e273eb4c99429b93def0877512fe2ea357b5d35e9b03ea2b79067f.jpg",
"sig": "c3a0b4a9f17bd9c3d7f36c3618539a87900bc94c1d4565d00ac200919ba288c21d5c154aaf4a7b129d5b8d22d603b9170761e61a0bd6845ad6315f8d684a28af"
}
