“It’s not what you say, but how you say it.”
Certainly something your partner might say, but there is some truth to the matter (against my own inclinations).
Besides the merge hype, it’s worth considering that markets are experiencing bearish exhaustion. And can you really blame them? Doom and gloom narratives have dominated financial markets for months on end, and ebbs and flows are only a natural part of both individual and mass psychology.
Unlike Bitcoin, Ethereum has a relatively optimistic narrative - a welcomed change given the dreadful financial and political climate we find ourselves in. As Anthony Pompliano often points out, optimists outperform pessimists, and this view scales across populations and markets.
Human temperaments differ. Some are motivated by negative consequences of inaction (i.e. if you don’t work out, you’ll be unhealthy), others more so by positive outcomes and the prospect of future glory (if you work out, you’ll be at your best mentally and physically). The trick is getting both sides of the equation correct in a given context. It’s no different with pitching ideas, raising money, or promoting an asset.
Currently, Ethereum is winning. One way to gauge this is by looking at meme culture. Eth has better memes.
Bitcoin culture takes itself too seriously sometimes. And while toxicity exists on both sides, it is currently more pervasive within the Bitcoin community. This attitude is not good, and stems from an idea of ‘certainty’ that Bitcoin will keep going up forever.
While BTC technology is a marvellous feat of human ingenuity, that’s no excuse to become complacent, hubristic and toxic. Nobody anticipated BTC/USD would fall below its 2017 all time highs because it never did that before. Certainty is an illusion - and even if it isn’t - it’s wise to treat it as if it is.
In any case, last I checked, the only certainty in life is death. It’s time Bitcoiners learned a thing or two from their competitors i.e. memes from Ethereum, and humility from Litecoin.