{"id":3669,"date":"2021-05-21T14:23:15","date_gmt":"2021-05-21T13:23:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3669"},"modified":"2021-05-21T14:23:17","modified_gmt":"2021-05-21T13:23:17","slug":"ethereum-flippening-bitcoin-could-this-be-the-end","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-flippening-bitcoin-could-this-be-the-end\/","title":{"rendered":"Ethereum Flippening Bitcoin, Could this be the End?"},"content":{"rendered":"\n
Word on the street is that every time people start talking about \u201cThe Flippening,\u201d the market crashes. The possibility of a mythical time when Ethereum\u2019s market<\/a> capitalization surpasses that of Bitcoin is a common meme in the crypto industry.<\/h5>\n\n\n\n
\"Ethereum<\/figure>\n\n\n\n

And this time, it was close. This year, Ethereum\u2019s growth is not to be ignored. Is the momentum not there anymore? Or is this the calm before the storm?<\/p>\n\n\n\n

A relationship between new paradigm, super cycle, flippening and shitcoin hysteria.<\/em><\/p>

Peak euphoria, when the market thinks “Bitcoin is old”, gets healthily crushed.<\/em><\/p>

Chart: google searches for “flippening”\u00a0pic.twitter.com\/X8Fh0EF3Cz\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/em><\/p>

\u2014 Charles Edwards (@caprioleio)\u00a0May 19, 2021<\/use><\/svg><\/span><\/a><\/em><\/p><\/blockquote>\n\n\n\n

Predict the price of BTC & AAB and win up to 5,000 USDT!<\/a><\/h3>\n\n\n\n

The crypto bloodbath we\u2019re experiencing feels like a cruel winter. Graphs of all kinds are all pointing down, bleeding red. And The Flippening narrative is one of its main victims, even though Bitcoin suffered catastrophic losses. It seems like a week ago everyone and their mothers were talking about Ethereum. Nowadays, the climate is different.\u00a0
There\u2019s one exception, though.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Flippening In The British House Of Commons<\/h2>\n\n\n\n

We need to think about the contracts and currencies that will shape future trade and risk sharing. We\u2019re seeing the flippening from\u00a0#Bitcoin<\/use><\/svg><\/span><\/a>\u00a0to\u00a0#Ether<\/use><\/svg><\/span><\/a>\u00a0and we need\u00a0@hmtreasury<\/use><\/svg><\/span><\/a>\u00a0to help create space for UK innovation and our legal system to learn what\u2019s needed in a new economy.\u00a0pic.twitter.com\/vUN0rxbW1W<\/use><\/svg><\/span><\/a><\/em><\/p>

\u2014 Tom Tugendhat (@TomTugendhat)\u00a0May 20, 2021<\/use><\/svg><\/span><\/a><\/em><\/p><\/blockquote>\n\n\n\n

The MP for Tonbridge, Edenbridge, and Malling, Tom Tugendhat, went viral. He posted the video himself. It shows his recent intervention in the House Of Commons, where Tugendhat went all-in and introduced a few key concepts to his sparse audience:<\/p>\n\n\n\n

\u201cBecause this bill, this speech, doesn\u2019t cover the changing nature of currency. The changing nature of the economy. And the innovations that we\u2019re seeing online through various forms of cryptocurrencies. I\u2019m not going to go on in the few minutes left to me, of the flippening or why I\u2019m going to be bullish on Ethereum and not Bitcoin.\u201d<\/p><\/blockquote>\n\n\n\n

Even though this is hilarious, it might prove to be a pivotal moment for cryptocurrencies in general. Institutional adoption was one thing, but this kind of governmental familiarity is something not many were expecting so soon.\u00a0<\/p>\n\n\n\n

The narrative before the bloodbath <\/h2>\n\n\n\n

Here at Bitcoinist, we covered the possibility of a flippening. Let\u2019s recap. On one hand, we reported on an expert who considered it inevitable<\/use><\/svg><\/span><\/a>:<\/p>\n\n\n\n

In a recent episode of the \u201cUncommon Core\u201d podcast, Twitter-famous investor CryptoCobain<\/use><\/svg><\/span><\/a> told Su Zhu and Hasu:<\/p>

\u201cI think the flippening is now inevitable, but I think it\u2019ll be incredibly temporary. I think you\u2019ll have a massive blow-off top, and ETH\u2019s blow-off top will be slightly before or slightly after the Bitcoin blow-off top, and it\u2019ll temporarily flippen. I\u2019ve never felt more comfortable with a trade in my life. Not financial advice to your listeners. And the reason is that the total addressable market of things for Ethereum is just gigantic<\/em>.\u201d<\/p><\/blockquote>\n\n\n\n

On the other, we consulted on another expert that doesn\u2019t even consider holding<\/use><\/svg><\/span><\/a> an Ethereum position:<\/p>\n\n\n\n

Pysh thinks that Bitcoin is a better solution for the problem at hand, \u201cSound, censorship-resistant money, w\/ timeless decentralization<\/em>.\u201d And that with a, \u201c100 trillion + bond market that\u2019s already priced to collapse<\/em>,\u201d a massive influx of money is coming to Bitcoin. It\u2019s not coming to Ethereum, because it\u2019s \u201ccontrolled by tech gatekeepers<\/em>.\u201d <\/p><\/blockquote>\n\n\n\n

\"\"<\/figure>\n\n\n\n

What do the trends say about the flippening?<\/h2>\n\n\n\n

Even though the narrative died down, the stats<\/use><\/svg><\/span><\/a> remain intact after the bloodbath. All of the cryptocurrencies are down, together. So, Ethereum has still around 40% of Bitcoin\u2019s market cap. And the percentage is exactly the same if we compare the active nodes. It already surpassed BTC in everything that has to do with transactions, from quantity to fees generated. And ETH is not even close in Google search interest and active addresses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Word on the street is that every time people start talking about \u201cThe Flippening,\u201d the market crashes. The possibility of a mythical time when Ethereum\u2019s market capitalization surpasses that of Bitcoin is a common meme in the crypto industry. And this time, it was close. This year, Ethereum\u2019s growth is not to be ignored. Is […]<\/p>\n","protected":false},"author":63,"featured_media":3672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23,21],"tags":[152,128],"class_list":["post-3669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","category-news","tag-bitcoin","tag-ethereum"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/thereum-price-flip-bitcoin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3669"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3672"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}