Ethereum hasn\u2019t done too well over the past year. Since peaking at $1,400 and nearly \u201cflipping\u201d Bitcoin, the cryptocurrency has embarked on a steep downtrend, shedding a large majority of its value as demand has tapered off.<\/p>\n\n\n\n
In fact, one ETH is now valued at under 0.02 BTC \u2014 a level not seen since the pre-ICO bubble levels, which is crazy to think about.<\/p>\n\n\n\n
This collapse has coincided with an overall decline in altcoins, which itself lines up with a mass conversion to Bitcoin maximalism in the cryptocurrency community. After 2017’s flavors of the months failed to ship products, many former “altcoiners” have likely lost faith in anything but Bitcoin.<\/p>\n\n\n\n
What’s more, Bitcoiners have become even more impassioned. Case in point, Michael Goldstein, the President of the Satoshi Institute, recently presented an anti-“s**tcoin” speech at a Bitcoin-centric conference, in which he made reference to some Ethereum proponents. Youtuber Rob “Crypto Bobby” Paone, the founder of Proof of Talent, says said presentation has \u201cruffled some feathers\u201d across the industry, including those in the Ethereum space.<\/p>\n\n\n\n
Despite this, there remain some outspoken ETH bulls that aren’t fearful just yet. In fact, they claim that now may be the best time to purchase the cryptocurrency, not sell it. <\/p>\n\n\n\n
In a recent three-part tweet thread, Patrick McCorry, an industry commentator and admin at fintech-centric PISA Research, argued that “Ethereum feels like Bitcoin in the midst of 2015”, having sunk from $1,400 to $175 in a massive downturn, even with a “consistent flow of developers and startups just building (alongside ever-increasing attention from researchers.” <\/p>\n\n\n\n