This move lower in Bitcoin may have legs. I said this just yesterday and it is looking like it is coming true.
I had to defend yesterday’s comments and article. In my post, I wrote that I believed ETC is a better built crypto-currency. As pointed out by some commenters, it has its faults as well. But, the long term damage to the BTC ego may hurt for a minute until the currency recovers some.
I can see ETH coming down sharply with this move:
I can also see ETH overtaking BTC in market cap. This does not mean that ETC will overtake BTC as a crypto currency. They do not do the same things. But, Bitcoin is too plain vanilla and has issues that I do not know how they will get resolved.
In the meantime, ETHBTC is moving lower and I think this is going to be a decent opportunity to buy into this currency: