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Metallic uterine he's the engineer Recognized as the inventor of ethereum The blockchain movement's biggest Celebrity become something like the Philosopher Kingp oh God why are people listening to Me I'm just a guy but he's not just a Guy he's the founder of ethereum who's Been selling his tokens and so now I'm Answering the question is ethereum still A good buy and folks I have a price Prediction at the end of this is going To blow you away but first let's look Into vitalic butterin selling his eth Does this mean eth is doomed he looks Like he transferred 800 eth tokens today That brings the total close to 4,000 Which is going to be around $10 million In eth transferred just in the month of August and is not just vitalic it is Also the ethereum foundation getting Slammed for spending $88 million they Sent $88 million to Kraken exchange but Transferring doesn't necessarily mean Selling does it but it does in this case Because vitalic was caught transferring Half a million dollar into stable coins He transferred $10 million worth this Month alone and then 44 minutes ago he's Swapping into stable coin so what does This mean for ethereum and not only that Should you go ahead and sell your bags Well according to Mike vop maybe not Right now okay so he is saying there are
Great signs on the market as ethereum Has made its first bullish Divergence in The daily time frame and this is huge in More than 2 years and we're going to be Using this to create our price Prediction but folks there's another Level that you need to worry about that Eth is definitely going to get rejected At now will this be the actual reverse Signal we will be seeing that over the Next couple days and as we're seeing Here form first bullish Divergence in Two years but what does that mean well We've talked about the bull divs in the Past before that is where the price is Making a lower low while the RSI is Making a higher low so meaning the price Is trying to get pushed down but the Market wants that token to be higher so Here you can see the bullish Divergence That happened on the ethereum Bitcoin Trading pair but we don't know anything Unless we look at the last bull div from Two years ago so what happened to Ethereum bitcoin 2 years ago well I Found it for you so you don't have to do The searching I'm doing the searching For you and here you can see the price Of ethereum falling against Bitcoin as The RSI was creating a higher low and Then over this next about a 2 and a half Monon period eth gained tremendously Against Bitcoin and so the chart pattern We're looking at today looks a lot like
This chart pattern from 2 years ago and If we measure what this move was Ethereum pumped over 60% against Bitcoin But what did Bitcoin do during this Period so eth is gaining against Bitcoin Well was Bitcoin dumping no actually Bitcoin was just flat so this gave the Market time to cool down Bitcoin was Cooling down Bitcoin was boring it just Kind of trading sideways and then all The new money was flowing into ethereum Here and so if we look Bitcoin Relatively flat so we know eth pumped Against Bitcoin and we know that Bitcoin Was relatively flat but what about Ethereum's price well ethereum did have A little bit of a gain it's kind of hard To see here we got to stretch this y AIS Cuz it was actually a pretty good pump Everyone that was a 65% pump in fact if You cut the wick if you jumped out a Little bit early you got over 100% pump So we got about a 65% pump and 100% pump In the cards for ethereum so what does a 65% pump look like so let's go ahead and Catch it from the bottom right there in A 65% pump you're going to notice Something the top of this pump matches Up perfectly with this line right here So let's go ahead and make a horizontal Line just so we can see what is going on With the markets at this level I could Easily see this being a level where Ethereum is going to reject because it
Got rejected at that area in the past But what about this top yellow line what What is this trend line that is the next Level for ethereum so if ethereum can Burst through this level which is Suspiciously close to $4,000 eth does Like to play around at that $4,000 level The next level is going to be around Here around 4300 but why is this line so important Well this line is important because it's Been important in the past so you can See that it just hit perfectly right There but this was the previous top as We were heading down in the early parts Of 2022 and then you can see wow this is Actually a pretty strong and respected Line that eth has just been following All the way back since May of 2021 so You can just see this has been a level That ethereum has been respected in the Past and I expect ethereum to respect it Again in the future may be saying right Now but Dey there's l2s now and there Weren't really a a strong robust L2 Ecosystem in 2021 you know it's like Polygon and that was about it and plus Aren't the gas fees low and the fees Generated or basically nothing well That's what Thor is saying here is eth No longer ultrasound money why well August is on track to be the worst month In terms of fees generated since early 2020 so eth all the attention is being
Sucked up by the l2s but what happened In early 2020 and was that a bullish Sign or was that a bearish sign well Let's go ahead and look so right here my Mouse is hovering over the first weekly Candle in 2020 so I've circled the first Few months of 2020 so what happened so This was record low fees eth was very Bearish again this is early 2020 let's Just kind of look at the next couple Months the next few months holy Smokies Eth turned incredibly bullish in fact if You caught this Wick you're looking at Tremendous Gains 40 plus X really Getting close to a 50x there so 50x was In the cards for eth last time it was This bearish with the fees being Generated so we have a bull div on the Eth Bitcoin trading pair we have a lot Of strong trend lines that it looks like It might run up to and not only that Last time we had a bearish fee Generation eth turned really bullish so For all the people asking is ethereum Still a good buy well folks I'm leaning A hard yes I mean we have the eth ETF That it launched now things did turn Bearish afterwards a lot of money is Still flown into Bitcoin but Bitcoin is Going to have a time to shine and then It's going to have a time to play in the Background and pretty soon it's it's Going to be ethereum's time to shine I Do think ethereum it is ultrasound money
To me it's the world's largest virtual Machine more people are still using eth And it's l2s than any other chain Combined and so now is not the time I Would be leaving the ethereum ecosystem It is going to have some tough headwinds I don't think we're going to go to 10K This cycle but I do think we're going to Be running up against this $44,000 level Before you know it potentially even in 2024 and folks I'm going to go ahead and End on a lighter note today is actually The 2-year anniversary of vitalic most Famous picture in existence this was the Photo that ended up pumping eth 10% so Eth can pump out of nowhere for the Craziest reasons I do think we have a Good good pump ahead of us so folks Hopefully I'll see you and your diamond Handed ethereum at the top
