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BTC drops below 30,000, trend relatively weak compared to ETH! Crypto influencers on Twitter debate, which one should you hold onto?

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BTC drops below 30,000, trend relatively weak compared to ETH! Crypto influencers on Twitter debate, which one should you hold onto?

In a tweet yesterday, cryptocurrency influencer Adam Cochran raised doubts about the lackluster performance of BTC compared to ETH, suggesting that BTC Maximalists seem to have run out of ammunition, leading to BTC falling below the key price of $30,000. This post prompted disagreement from BTC Maximalists towards Adam's comments and also attracted attention from well-known cryptocurrency trader Cobie, who explained why he is willing to hold BTC this year.

BTC Criticized by Adam Cochran: Its Only Remaining Asset Is Its Notoriety

In a tweet, Adam Cochran bluntly stated that despite working for BTC exchanges as early as 2013, he currently holds no BTC because he believes that the development vision of BTC has stagnated and it is typically held by those who push the price through harmful narratives.

On the contrary, Adam believes that there are now many better options available based on anti-centralized censorship, which align more with the actual vision of Bitcoin pioneer Hal Finney.

"The only thing BTC has left is its notoriety," stated Adam Cochran.

Despite several upgrades and applications in recent years, such as the Taproot upgrade at the end of 2011 and the recent popular Bitcoin NFT protocol Ordinals, Adam believes that these are essentially things we can achieve in a Turing complete environment, just implemented in a less efficient manner.

Nevertheless, Adam also acknowledged that this does not mean that the price of BTC will not rise, as the price of anything can increase, especially when driven by the devaluation of the U.S. dollar. However, he also believes that Bitcoin does not provide any real value, some values that cannot be replaced by anything else.

"I'd rather hold onto something I think has more potential and push forward in decentralized currencies," stated Adam Cochran.

BTC Advocate Cobie: Its Failure Risk Is Lower Than ETH's

In response to Adam's statements, renowned crypto trader Cobie took the opposing view, stating, "After not holding BTC for a long time, 2023 is the first time I'm interested in holding BTC for the long term."

The reason behind this decision, according to Cobie, is a question he pondered: "What does Ethereum need to achieve in 10 years to prove its valuation and potential? And what about Bitcoin in comparison?"

Cobie believes there is a significant difference in scale between the two,

"Clearly, Vitalik can make ETH and cryptocurrencies bullish in the long term, but Ethereum could fail, while the risk of Bitcoin failing seems smaller to me."