Founder of the hedge fund Adamant Capital Tuur Demister считает that kriptovalyuta Ethereum (ETH) is slowly dying.
On November 14, the ETH rate against Bitcoin dropped below the bullish trend line that emerged in 2016 and consolidated below this barrier. In this regard, it is highly likely Ethereum will continue to lose ground, and its gap with BTC will increase.
Change of course Ethereum in relation to bitcoin
Ethereum is slowly dying. The company broke the first rule: never cheat your customers, Tuur wrote.
Demeester calls the ETH blockchain a “company” and claims that the developers have lied to the network’s users on numerous occasions. In his opinion, they have lied by stating, for example, that the blockchain Ethereum decentralized and kriptovalyuta ETH is “ultrasonic money” because the coin is deflationary. This was true until mid-April 2024, when the supply of digital assets began to grow again, causing inflation.
Wealthy trader James Fickell has been one of the biggest losers in the waning Ethereum . In early 2024, he bet on the ETH rate to rise against the BTC price. James began borrowing bitcoins and spending them to buy Ethereum . The tactic backfired completely, and in about 10 months, Fickell lost $76,5 million and still has $77 million in debt.
