Trader Mayne’s Price Predictions and Why Bitcoin is “Antiquated Technology”
On Monday afternoon crypto Twitter influencer @tradermayne stopped by Benzinga’s “Moon or Bust” show to share his thoughts on the market, crypto trader lifestyle and the future of decentralized finance.
Mayne has over 188k followers on Twitter and has been actively trading Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and altcoins since 2013.
Mayne shared that his current bias is towards the downside, noting that recent price actions do not reflect a typical bottom.
In regards to the Bitcoin vs. Ethereum conversation, Mayne had something to say from a trading and technological perspective.
On trading, “When it’s alt season, Ethereum is usually going crazy, and if you want to be in an altcoin you gotta make sure it’s not [only] outperforming bitcoin, you want to make sure it’s outperforming Ethereum.”
On technology, “So, I think Ethereum’s role will continue to grow. Like [Logan] said, everything is built on it. Bitcoin is kind of antiquated technology at this point.”
Mayne is still bullish on Bitcoin’s future however, “[Bitcoin] is the standard. It’s the first one. There’s that scarcity built into it where people are always going to want it.”
On future holdings, “I’m a huge Ethereum bull. I will definitely be holding more Ethereum than Bitcoin in the next bull run.”
Mayne also gave us his take on EIP 1559, “I don’t expect Ethereum to all of a sudden just jump 20% after this happens. I think there are going to be people that are going to be trying to play that game. To me the safe bet from a trader’s perspective is to bet on the move contracts… there’s probably going to be volatility around that date, (August 4th) that way you don’t have to know if it’s up or down”
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