Time to sell some Bitcoins to get some Etherum (Skeptical? Continue reading). BlockFi recently announced changing its interest rate structure to make 100 ETH earn 5.25% interest while only allowed up to 1BTC earn 6%.
At the time, I was going to move the max amount of HODL Bitcoin to BlockFi to sit and earn interest. But after this announcement, I thought, well might as well earn more interest and swap my BTC for ETH since, at the time, the percent gains from the targets I calculated were about the same.
What I wanted to do then was move a large amount of HODL Bitcoin into BlockFi to gain interest. When I heard this announcement, I concluded on exchanging my BTC for ETH since as of that period, the profit from targets I predicted were almost the same.
Some of my friends had this same idea that greatly affected Ethereum’s price. If we take a look at the Etherum chart since March 31st, 2021, we see clearly that Ethereum has increased by about 28% ($1930 to $2550 April 22nd, 2021) since that interest rate change.
You might feel this is just coincidental and not connected but it makes real sense. Besides, it’s almost the same time the ETH-BTC ratio bottomed out that started this altcoin season. Quite true that Bitcoin is widely used, Etherum may be the water to quench that fire.
FEW REASONS YOU SHOULD INVEST IN ETHERUM
1. Etherum just made about (25% profit from $2000 to $2500) as an advantage over Bitcoin which made about (18% increase from, $59,000 to $70,000) at that period (which later became April fool’s Day)
2. Recently, a certain company (grayscale Investments) bought about $1 billion worth of crypto within 24 hours. Over half of that trade was on Etherum.
3. 2019, an article stated that Etherum has 4x more developers than other cryptos. Etherum still has a great lead in the number of active monthly developers when compared to other currencies.
You need to know that often, it is the product distributors that earn the most money, not the actual product. Etherum in this case happens to be the distribution and product all rolled into one.
4. Right now, ETH has the biggest developer community in the cryptocurrency space and will have a reduced supply when ETH 2.0 ends. It also has the best setup for future investment breakthroughs in the cryptocurrency space. It’s a good time to sell some Bitcoins to get some Etherum.