I JUST SOLD MY BITCOIN TO BUY MORE ETHEREUM!!!

Bitcoin vs Ethereum. “The only versus in cryptocurrency that
matters. The two king assets are about to go head to
head for the rest of the year, as Ethereum makes it’s big changes! And that is cause for a conversation called
the FLIP! What is this FLIP!? Well find out in 10 minutes give or take a
few, because it’s time for Chico Crypto! Well…HELLO Ether! The days before the BIG london upgrade and
Ether is breaking away from grandaddy Bitcoin & blazing it’s own trail. Pulling out Bitcoin’s price from Saturday
to yesterday, the price dipped from above $42,000 bucks…back into the crabby range,
just above 39k! A decrease of over 7 percent! Ethereum over the same time period, has been
pumping! From under $2,450 to basically $2650 as of
yesterday…a USD increase of over 8 percent! This breakaway with ETH while Bitcoin is falling
is also making it’s bitcoin ratio number grow higher and higher.

Crossing .066 for the 1st time in months! An upwards trend is obviously forming!! Now I’d like to pull out the ratio chart
over the past year, as we can see Ethereum reached over .08 in Mid May, before Bitcoin
crashed and took the markets down! But in the months before that, like in March
the ratio was only .03. Ethereum and it’s ratio was breaking out
versus bitcoin & a certain narrative was forming!! But BTC had to ruin the party with it’s
BIG Crash…. What is that narrative!? Well in the intro, I called it the Flip…but
it’s actually called the Flippening…the point where Ethereum flips and overtakes Bitcoin
by market cap! Now if you watch my channel at all, I’m
a big proponent of the more things change, the more they stay the same! Each cycle I’ve been through in these markets
are similar, they do have differences, but the main narratives hodl true. Now the last cycle in 2017…there was a major
narrative that made its way into the markets! As we can see all the major news outlets were
covering it back in 2017.

Coindesk posted this article “The #Flippening:
Will Ether ‘Pass’ Bitcoin And What Would It Mean?” & even outlets like Marketwatch
were covering the possibility “How Cryptocurrency Ethereum looks set to overtake BItcoin-in
one chart” Why was this? Well going to blockchain centers' flippening
watch website, and the chart of the flip, we can see back in Mid 2017, ethereum got
all the way to over 83 percent of the way to the FLIP! It only had 17 percent more to go, and in
the first time in history, Bitcoin wouldn’t be the #1 cryptocurrency. Ethereum would be. Although the FLIP conversation died when the
brutal bear market took over! Ethereum and it’s ratio crashed! It took years for Ethereum to recover & start
pushing back into this ratio number… The FLIP conversation DIED out and it died
out big time….until this year! Remember Ethereum reached that .08 ratio number
in May, and that ratio number is about 50 percent of the way to the Flip! So the question you may be asking yourself
is was that 50 percent Ether reached the peak for this year!? Or was that just a taste of what’s to come!? Well if you go back to 2017…before the BIG
breakout to above 80 percent…there was pre-ether ratio bull run, where it reached 30 percent…before
crashing and dipping back under 20 percent..took about a month, and then it was off to the
races on the way to the high! Did we just experience the ratio DIP of this
cycle, before Ethereum really pushes up and threatens a bitcoin FLIP!? Chico Crypto thinks so!! Because the FLIP is already kind of here! You just need to know where to look! Now market cap and price is just a measure
of how much people believe in and understand an asset.

Today Bitcoin is just understood by more people
than Ethereum! The general public, retail and institutions
just understand Bitcoin more. Digital Gold is easy to understand versus
Ethereum and it’s smart contracts. Although the markets are starting to catch
on! Due to on-chain data and metrics which are
getting shown to the markets by people like me! So like I said the Flip is already here if
you know where to look! So out of Bitcoin and Ethereum, which blockchain
do you think is settling more value daily!? Which blockchain is putting out more economic
output!? Bitcoin or Ethereum? Well Luckily there is a website that tracks
this metric: money-movers.info & as we can see, Ethereum is settling over 3x the value
of Bitcoin, basically 22 billion for Ethereum versus Bitcoin’s 6.7 billion! If we look back, it has been like this throughout
the entire year too, Ethereum’s economic activity has been higher than BTC, with it
getting its widest in May! Obviously Ethereum is facilitating much more
economic activity on it’s chain! Due to DeFi, NFTs and the combination of the
two! Bitcoin doesn’t have this, so all of that
activity goes on the Ether chain!! Ethereum has flipped, and is staying flipped
in this category! More economic activity, more value being settled
on the chain! You would think since Ether has Bitcoin beat
in this category, then transactions would be higher on the Ether chain.

Aka Ethereum has flipped Bitcoin in daily
transaction count! Well if you said yes, that this is the case…you
are correct! As we can see from the Block’s data, Ethereum
has over 1.25 million transactions going through it on average daily. Bitcoin has about 238 thousand. Ethereum is just outputting 425 percent more
transactions daily than Bitcoin. ANd as we can see, Ethereum has flipped and
beat bitcoin in this category since July of 2017, going on over 4 years strong! More transactions equals more transaction
fees! Looking at this data from the block, Ether
has Bitcoin flipped in this category too! Although this FLIP has only been confirmed
for the past year, Bitcoin in 2020 and before, was actually beating Ethereum for the most
part! Soo, the FLIP has actually taken place in
3 important categories. #1 Overall Blockchain settlement value, #2
Number of transactions, and #3 Transaction Fees. AKA Ethereum is flipping bitcoin in activity
categories! But there are other categories getting ready
to be flipped soon as well! Active addresses aka, the number of people
who are active on the chain, transacting back and forth.

Ethereum addresses are used over and over
again, while bitcoin addresses are usually used a lot less, like one and done… thus
this category is a much tougher flip! But back in Late June, Ethereum actually flipped
it for the very first time, having more active addresses than BTC. It was short lived, but it did happen & this
is just proof of a trend. I wouldn’t doubt we get the official FLIP
of active addresses, where it will stay there too, within the next couple of months! Definitely by the end of the year! So, I can say what I want about the Flip…but
I’m just Chico Crypto! I’m not as involved in the industry as some
others, who have protocols which are involved with Both Ethereum and Bitcoin.

And some people in that industry are doing
just that: calling for the Flip too! Actually saying it’s already happened on
their platform. Let’s listen to CEO of Celsius, Alex Machinsky,
and what he had to say just last month about the FLIP! Celsius, which allows both Ethereum and Bitcoin
deposits…for the first time in early July, had higher value held in Ethereum over BTC. The Flip had already taken place on Alex’s
own platform! He said that this would ripple out to the
broader market, and the actual Ethereum flip of marketcap would take place in the next
year or two!! And I fully agree with that notion, of the
actual FLIP coming in a year of two! Yes, Ethereum has flipped the categories we
talked about above, but switching back to blockchain center, we can see it has a lot
of headway to make in other categories.

Active addresses, average transaction volume,
and trading volume are in the yellow, meaning it’s getting close…but there is still
work that needs to be done! Then scrolling down…node count isn’t where
it needs to be & the big one…google search interest is the lowest…way far from the
FLIP! But that doesn’t mean we aren’t going
to have a flip narrative build this year! It really depends on how EIP 1559 rolls out
later this week, but if it's a smooth as butter rollout, that starts burning a good amount
of ETH…this will start putting ETH on the path upwards in dominance.

I mean its already beginning pre-fork! I do think the EIP is going to go smoothly,
and then I do think the Merge, the move to proof of stake is going to come sooner than
people think too! It’s going to come before the end of the
year & that is when Ethereum could be 80 percent of the way to the FLIP once again! Cheers! I'll see you next time!.

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