Ethereum Vs. Solana
Welcome back to the Ohzone everybody!! We have a decent amount to talk about even though Bitcoin has been relatively quite the part few weeks. When Bitcoin goes sideways it is in an accumulation phase which is common before a big move whether that be up or down depending on the timing of the macro cycles. Currently with the halving and the GTBC slowing down on the sell pressure along with rate cuts could mean that a parabolic run to the upside is yet to come. What are the headwinds bitcoin faces going forward after the halving. I think we will be searching for a new narrative after the price is already very high after the supply and demand affect from the halving. But besides looking for a headwind i think the biggest one is staring us in the face. Regulation Governments are scared and are scrambling. This could lead to them not fully understanding what they are trying to do kind of like when the U.S. Gov. made it illegal to own gold at one point in 1933. By the way since 1933 the U.S. Dollar yeah that fake money backed by nothing has lost 96% of its value……Hello wake the F up, all they do is print and devalue the money to make assets worth more while the U.S. citizen takes the hit with their buying power being diminshed year after year after year!!!!! They literally have an unlimited amount and they are not afraid to add zeros. In 10 years we will literally have to make up new numbers to quantify how much debt we have. But yeah U.S. Dollar is the strongest in the world… what a joke.
Ok going to switch gears here and talk about a big event that happened yesterday with Solana and what I think it means for the Altcoin market as a whole. $SOL, one of the fastest blockchains and biggest competitors to Ethereum ($ETH) the biggest Altcoin shut down yesterday for just under 5 hours. Maybe 5 hours doesnt sound that long to you but Amazon cloud allows itself 58 minutes a year to be down and that is still alot they say. The security on $SOL just cannot match $ETH even though the fees are high on $ETH you are paying for what you get. Along with the Ethereum Dencun upgrade that is anticipated to come in March while the test-net is already live. With the troubles that $SOL faces I see a major $ETH season coming along with the coins that are closely related to $ETH such as $MATIC, and $ARB, mainly the L2’s (layer two) on $ETH because the Dencun upgrade will make them significantly cheaper then they were! I plan to write a blog on the upcoming $ETH season and how the Dencun upgrade will affect the market so Stay Tuned!!!
Some quick thoughts on Solana after the shutdown. Solana had been one of the hottest and strongest performing altcoins the past 6 months but this is definitely a huge deterrent to the talk of Solana becoming bigger then $ETH. I see this event as a shift in how people view Solana as a serious competitor to $ETH and this will bring everyone back down to reality. Personally I didn’t sell ant of my $SOL and I don’t plan too. I still see $SOL gaining market share overtime but not like what people were talking about a few months ago. Besides just the shutdown a big the reason $SOL hasn’t flipped $ETH is because $SOL has a centralized problem being more of a company then a decentralized blockchain run by the users and validators! I hope this basic overview helped you gain some knowledge about what’s going on in the market this week. Thanks for reading everybody still alot to come here at OhzoneCrypto!! Stay Tuned!!!