When I first started getting into crypto I was pretty laser-focused on Bitcoin and Ethereum, albeit for different reasons. I initially saw Bitcoin as the crypto we’d all likely transact with one day. Then as I learned more about Bitcoin I realized, holy moly – this is way, way, way too slow to use for regular everyday transactions (read more here). While there have been proposals to do things that could make Bitcoin (or a fork of it) faster, I’ve always felt another crypto would probably become the transactional standard (like $XLM) and Bitcoin would become the gold of crypto, i.e. a store of value.
Like most people, I always looked at Ethereum very differently from Bitcoin. With Bitcoin, the whole focus is BTC, with Ethereum the success goes beyond ETH itself, it’s the Ethereum blockchain and the concept of building other coins on Ethereum, leverage smart contracts, and now NFTs look like they have some serious potential. I can still remember how people responded when I told them I was investing in Bitcoin, and the most common response, “it’s a fad, you’re going to lose all your money.” I get the same response today when I tell someone about NFTs or .GG domains. When you believe you’re early to a market, you get used to people telling you that you’re crazy and you’re going to lose all your money.
First, I never have, nor would I recommend anyone else, put all their money into crypto or domains. I play with profits and have written many times on my blog about why I think that’s a better way to go. For those who missed this in previous articles the idea is:
start with money you can lose, like – poof gone forever and nothing changes in your life. To some people this is $5,000, to others it’s $50,000, and to others it’s $500,000. Whatever your number is, start with that, and if you get lucky enough to make some profit, put it back in, and if you’re really lucky, keep doing that
Okay, I know I’m off-topic here but I feel it’s important when talking about crypto or domains to warn people about the risks and make sure they know that yes, they could lose it all. Just make sure the “all” that you do lose, is money you could lose, not all the money you have in savings.
Now for what probably drew you into this post to begin with, my prediction that ETH will grow faster than BTC. It might be easy to see BTC bouncing around in the $50k – $60k range and ETH in the $2k – $3k range and think BTC is the horse to bet on now. While I own BTC and buy more BTC when it drops, the horse I’m betting on right now is ETH, and for one simple reason – I think it’s going to grow faster than BTC over the next 2-3 years.
Here’s a fun fact that should help put things into perspective:
In 2014, 1 BTC was equal to 2,000 ETH. Today 1BTC is equal to 20 ETH.
That’s a big deal IMHO. And while BTC has, at this point cemented itself as the Gold of the crypto world, when it comes to massive utility, Ethereum is kicking ass and taking names, and growing like crazy as it does. I think that ETH has a much better chance of hitting $30,000 in 2-3 years than BTC does of hitting $600,000. I’m talking about 10x growth and yes, I think ETH will grow 10x faster than BTC.
I’m not a big believer in applying things like technical analysis to crypto so I have no charts or graphs to show you. Also, I’m not a crypto expert by any stretch of the imagination, I consider myself firmly rooted in the “crypto enthusiast” category, nothing more. So take what I say as exactly what it is, the opinion of some random guy with a blog who isn’t an expert in what he’s writing about.
All the being said, I like strapping myself to rockets and trying my best to hit the moon, and I think the ETH rocket has the best chance of getting there first.
Disclaimer: nothing in this blog post should be construed as investment advice, cryptocurrency and domain name investing are very risky, only invest money you can lose. Morgan is an investor in BTC, ETH and other altcoins. Morgan is not an expert in crypto, domains, or any financial markets, this is a personal opinion blog, not a news site.