Hey everyone and thanks for jumping back Into the cryptiverse today we're going To talk about ethereum and we're going To be providing a General Market Outlook If you guys like the content make sure You subscribe to the channel give the Video a thumbs up and check out into the Cryptiverse premium at into the Cryptiverse.com we do have several Different tiers available including a Free one make sure you check it out Links in the description below Let's go ahead and jump in so ethereum Has been sort of in this range for Almost a year now so to the dismay of Both the Bulls and the Bears ethereum Has not really provided a definitive Move in either Direction You could argue That really since November of 2021 Ethereum has been in the process of of Putting in lower Highs but the Bulls Could argue since June of 2022 it's Actually been putting in higher lows and Of course we've we've always talked About ethereum eventually returning home Which of course is the lower logarithmic Regression band fit to again quote Unquote non-bubbled data so it's the Sort of data in here that it was fit to And so the argument is as well you know Will it eventually will ethereum Eventually find that deep value level During this Market cycle what's Interesting if you zoom in you'll
Actually notice that if we actually Connect these Wicks as closely as we can Ethereum has been sort of flirting with That lower regression value that lower Aggression trend line but unwilling to Actually make the final plunge into it Now of course you might argue I've seen A lot of people argue the reason is Because of is because of the merge Because of changing tokenomics and while That might have some effect Um you know if if the bear Market if if Regulation comes for the cryptoverse in The altcoin market it still might not Keep it out of that lower regression Trend line one of the things we've also Said before is you know there's two ways We get there either we go to it or it Comes to us and I mean back over here That fair value was close to around 584. Now it's a little bit higher at you know Maybe like 750 or so but still below the Prior low for ethereum back in June so If you zoom in here on on these sort of These lower highs and higher lows if Ethereum were to revisit the bottom part Of this range and come back down it Would go back down to that maybe 1200 to 1300 range and eventually if you know if Ethereum is unable to break out right Here and it just simply comes back down Into the lower part of this range Eventually it's going to have to break Out one way or another because you know
This is sort of coming to an end point By May so I would I would expect us to Either break to the upside or the Downside by May of course you guys know My opinion I I would prefer to see it go Home to the regression line regression Trend line because that's ultimately Where I think the the Deep value can be Found in the same way it was found over Here in 2018 the same way it was found In 2020. so I think that's worthwhile to Continue watching if you look at the Ethereum Bitcoin valuation it's Continued to sort of ride this upper This um you know this increasing upward Sloping trend line and we're actually Just now we just bounced off it a little Bit recently if you zoom in though You'll notice that we are unable to Really get above the bull market support Pan in a sustained way so I would be Somewhat again I remain I remain bearish On the ethereum Bitcoin valuation Arguably you might you might say we're Somewhere around this level over here Where eventually it could ultimately Break down now of course it has been Taking a lot longer than I thought I Would that's assuming it does because There's no guarantee that it does Um but this is also coming to sort of a Point sometime by March so not only is The ethereum USD evaluation sort of Coming to a decision Point by that March
And April time frame You could argue the Ethereum Bitcoin valuation is sort of uh Coming to a very similar Um phase and then another way I thought That was worthwhile to take a look at The ethereum Bitcoin evaluation is to Not just measure the price relative to Bitcoin because the supply is of course Changing why don't we measure the market Cap of ethereum divided by the market Cap of Bitcoin and you know I I look at It in this top range over here and can't Help but wonder if it's not just looking Something like this where you know it Has this sort of distribution phase in This upper region only to ultimately Break to the downside now if you look at The ethereum Bitcoin valuation I'm not That I mean I'm not I'm not embarrassed To the point that I think it's going to Come back down to 0.017 as I've said Before I think you're likely you know Assuming it does break down I think You're likely looking at at something Like this where ethereum's Bitcoin Valuation could be slowly moving High Higher with time on some type of a Logarithmic regression trend line so if It does ultimately break down here Once you get down to this sort of level Right here somewhere below 0.04 could be Sort you know somewhat akin to this Range here this range here and this Range here it's hard for me to accept
That this range up here is the same Value as you get here in in 2020 or the Value you got in 2016 or the value you Got in 2015. However if the ethereum Bitcoin Valuation broke back down to say 0.03 to 0.04 I think you are starting to get More into the conversation of all right Well this is getting into some levels of Of relatively deep value compared to you Know where it's been over the last Couple years so I think that's going to Be something that we'll need to continue To watch frankly throughout this year You know does the ethereum Bitcoin Valuation break down and if it does I I Think that would actually provide uh Somewhat you know relatively deep value For long-term investors doesn't mean That it has to I I want to be clear About that I know a lot of I know a lot Of you guys I see the comments are um Are quite bullish on the ethereum Bitcoin valuation over here because I Guess you could always look at it in a Different way and say that this is just Slowly increasing but um just in my own Experience uh in my own experience I've I've uh I've come to terms with you know After you after you get out after you Know at least a year after the bear Market has started for Bitcoin at least You know that that next year can still Be somewhat brutal to to you know to the
Rest of the market means again take a Look at the ethereum Bitcoin valuation So I mean even if you're the if you're In the camp that that Bitcoin is Bottomed that doesn't necessarily mean That each Bitcoin has this entire move Down here by eth Bitcoin occurred during A time when Bitcoin was going up and Then also I mean over here was when Bitcoin was going down back in you know August and and September Of 2019. so just keep that in mind that I I do think there's a strong likelihood At the very least we'll be revisiting uh This level from 2022 sometime this year And and maybe one way that this could You know this could play out would be Sort of coming back down to this level At some point bouncing up and then maybe Going into the deep value Zone and then Trying to sort of recover out of that Again going over to the ethereum USD Evaluation I suppose if you wanted to Try to look at the more optimistic side There is always a chance that ethereum Holds support on the bull market support Man that ranges from 1370 to 1467. Though there are many times on the first Test that it does not hold support I do Think last cycle ethereum did Um hold it on its first attempt unlike Bitcoin but one of the reasons Bitcoin Didn't was because Bitcoin was a lot More bullish at the time and ethereum
Could barely keep up with it that was One of the reasons why ethereum's Bitcoin valuation was actually going Down during the time that Bitcoin USD Was going up but eventually even though It held right here it was unable to hold Right here and eventually ended up Coming all the way back down and putting And at least a double bottom so just Something to consider with regards to Etherusd Ether Bitcoin if you guys like The content make sure you subscribe give The video a thumbs up and I'll see you Guys next time bye
