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Is it time to enter the world of Ethereum and Bitcoin?
by Manoj Sharma for CNR
The author of the best-selling book Cryptoassets and a famous New York Venture Capitalist, Chris Burniske, believes the current bearish market of Bitcoin and Ethereum may be the best time to invest in the ecosystem.
According to the fundamental analysis of Chris's market, both Ethereum and Bitcoin have had a much lower spiral than any reduction of key fundamental indicators. Placeholder, the co-founder of the New York-based Venture Capital company, says that digital currencies can be assessed fundamentally by measuring demand and supply indicators, such as the estimated daily value of transactions, hash rates and unique daily addresses. He said that "the fundamentals of quality cryptography networks are lower than prices, and significantly".
In his blog post on Medium, Chris has clearly outlined the three main reasons for the fundamental fundamentals of Bitcoin and Ethereum compared to the suggested price.
Hash rates
The hash rate for BTC and ETH is now higher than ever, which Burniske says is a delayed indicator. He adds that "both Bitcoin hash rates and those of Ethereum are on negative slopes that require us to observe them closely, it would be nice to see the number of nodes that support the network and the miners' income for both networks (transaction fees) + blocking subsidy). "
Daily transactions
Although the value of both tokens has decreased considerably, the number of daily transactions has been marginally stable. Illustrate in the post:
"From the peak, the network values of Bitcoin and Ethereum are down respectively by 81% and 93%, while the daily number of transactions is only down by 41% and 52%."
Used ether gas and transaction value
Burniske explains that although ETH has lost its value by 93% from its peak, the use of gas shows that the demand for its native functionality has decreased by only 7%.
Main image: BigStock
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