Since it's launch in November, The PS5 has been flying off the shelves. At the time of writing, the street price was double it's $399 retail price going for nearly $900 on StockX.
At the same time, Ethereum has been hovering around the $500-600 range since Bitcoin hit its new all-time high. So it's safe to say that the PS5's retail price is the same price as Ethereum right now. Yet, the PS5 has done a 2x in resale and Ethereum is still in the same range. Soon this will change.
As basic economics reminds us, demand increases when supply decreases. It's only natural with the recent global health panic happening, Sony can't create as much PS5's as they thought they could. Eventually, they will catch up to this demand and the resale price will begin to dip.
In my opinion, this is when the price of Ethereum will begin to rise. Around the world, there are people asking themselves should they buy 1 ETH or 1 PS5. The beauty of this situation is how it will play out in the long run. Video game consoles usually have a shelf life of around 5 years, and with that will be lower and lower prices. Meanwhile, Ethereum will build in popularity and importance.
The reason why I decided to talk about this is that it's a very fascinating situation. While people are going crazy over a video game console that will be around for at least another 5 years, a cryptocurrency that is the foundation for thousands of projects and protocols, gaming included, is quietly rising in price. Those who pay double for the depreciating asset will soon be wishing they instead waited it out and bought ETH instead. But that's just my opinion.
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