Well, when wind is behind your back, it is so easy to sail! ETH is not quite at ATH yet. For ETH it was at $1426, but definitely it is not that far back. As of right now at the time of writing ETH is printing new highs..
Here is the weekly chart for reference, showing the previous high at $1426
I think the perception is simple. It will reach ATH soon enough. There is a lot of good things happening with the ETH 2.0 which I have covered previously. The project is matured. There are a lot of 2nd layer projects happening on ETH. So there is no shortage of use cases. But I don't think that is the direction the new money is coming from. It is slowly but surely coming both from retail investors and conventional financial houses. Although it is still quite small and mostly from private equity and hedge funds.
Recently I read a post by Vitalik Buterin, where he wrote the following
I have always believed is simply the fact that gold is lame, the younger generations realize that it's lame, and that $9 trillion has to go somewhere.
Vitalik is here is essentially talking about the storage of value in precious metal in general. I agree with him that it is lame. But most common people still believe in gold, so it will take time to get those $9T. But, even if we can 1% of that into BTC and ETH we should be cool. At 10% of that, I don't think I have to work again :)
Enjoy the rally folks!
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Charts are created in Tradingview.com, which is a free service.
Posted Using LeoFinance Beta