"Past performance is no guarantee of future results" - We all know this famous phrase...
Nonetheless, Ethereum still has a very bright future in the next decade.
*Why I'm bullish on Ethereum:*
- Every competing "superior" and newer blockchain (Fantom, Avalanche, Harmony, ...) includes EVM (Ethereum Virtual Machine) Compatibilty.
- These types of products that are always compared with often have a long future, because they are the golden standard every competing company wants to be (Apple, Bitcoin, Tesla, ...)
- Ethereum's transition to PoS will ensure lighter regulation compared to PoW Blockchains in the coming years, where sustainability and net zero emission is a core element of the global agenda.
- Bankers & Wallstreet LOVE Ethereum because it is the backbone of every major DeFi Application that replaces traditional Financial Instruments (AAVE - Lending, UMA - Insurance, SNX - Derivatives, UNI -Exchanges, DAI - Stablecoins, LINK - Infrastructure, YFI - Asset Management)
- The majority of the Web3 Economy builds upon Ethereum (Metaverses, DAOs)
- ERC-721 (NFT's) are revolutionizing the art market.
- ERC-1155 is revolutionizing the entire gaming Industry. (Enjin, Axie)
- It is completely open source.
*Possible bearish scenarios:*
- Eth2.0 (if it ACTUALLY ever launches) is completely underwhelming.
- Cryptocurrency gets banned in the United States as well.
- "Black Swans" (Pandemics, Terrorism, War)
- Vitalik Buterin gets caught in money laundering (?) and his holdings will be confiscated by the government.
- Satoshi Nakamoto returns from the dead and dumps his entire BTC stack on the market, which will drag Ethereum with it.
- Ethereum gets exploited.
- Global Internet outage.
To wrap it up: I'm bearish in the short term due to the extreme correlation with US Stocks and ETFs. ETH is still completely overbought on the monthly chart.
I'm looking at price levels around $1'200, if there is a black swan event, even around $700 is a possibility.
I hope you enjoyed my thoughts and analysis on Ethereum. May the fortune be with you :)
-CYANE
Nonetheless, Ethereum still has a very bright future in the next decade.
*Why I'm bullish on Ethereum:*
- Every competing "superior" and newer blockchain (Fantom, Avalanche, Harmony, ...) includes EVM (Ethereum Virtual Machine) Compatibilty.
- These types of products that are always compared with often have a long future, because they are the golden standard every competing company wants to be (Apple, Bitcoin, Tesla, ...)
- Ethereum's transition to PoS will ensure lighter regulation compared to PoW Blockchains in the coming years, where sustainability and net zero emission is a core element of the global agenda.
- Bankers & Wallstreet LOVE Ethereum because it is the backbone of every major DeFi Application that replaces traditional Financial Instruments (AAVE - Lending, UMA - Insurance, SNX - Derivatives, UNI -Exchanges, DAI - Stablecoins, LINK - Infrastructure, YFI - Asset Management)
- The majority of the Web3 Economy builds upon Ethereum (Metaverses, DAOs)
- ERC-721 (NFT's) are revolutionizing the art market.
- ERC-1155 is revolutionizing the entire gaming Industry. (Enjin, Axie)
- It is completely open source.
*Possible bearish scenarios:*
- Eth2.0 (if it ACTUALLY ever launches) is completely underwhelming.
- Cryptocurrency gets banned in the United States as well.
- "Black Swans" (Pandemics, Terrorism, War)
- Vitalik Buterin gets caught in money laundering (?) and his holdings will be confiscated by the government.
- Satoshi Nakamoto returns from the dead and dumps his entire BTC stack on the market, which will drag Ethereum with it.
- Ethereum gets exploited.
- Global Internet outage.
To wrap it up: I'm bearish in the short term due to the extreme correlation with US Stocks and ETFs. ETH is still completely overbought on the monthly chart.
I'm looking at price levels around $1'200, if there is a black swan event, even around $700 is a possibility.
I hope you enjoyed my thoughts and analysis on Ethereum. May the fortune be with you :)
-CYANE
Comment:
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