It's pretty clear now that we're at the beginning of the next bull cycle. I drew an uptrend from the bottom of the market on December 15th, and so far its been respected. That hammer candle just nailed it in, 8 months later. (no pun intended)
ETH looks like it will have 3 parabolic waves up to its current ATH. So at the time of writing, ETH looks like its entering its 2nd wave of accumulation until it spikes up again early October. That means the price should be hovering around $600 by EOY.
January will be a quiet accumulation month while the developers finish up ETH 2.0, staking rewards, and scalability issues. From there, Feb. through the summer will be a movie. We'll see a $1200 ether in April.
There will only ever be 120,120,120 ETH ever created, making it intrinsically one of the most valuable assets in the world. Retail investors will buying up crazy amounts of ether after ETH 2.0 and staking is released end of January, there could be a supply shortage. Meaning theres not enough ether to go around.
Based on that alone we should see a rise in price, but ether has more. The 200MA is about to cross the 100MA this month, for the 1st time since the last bull run 2 years ago. You can build your own coin on the ether network, you can tokenize your dog, I can view all the tokens created on eth and the blocks mined, its all right there in the blockchain.
Vitalik, creator of eth, is a very smart dude. He is a genius that shows up to conferences in a purple Unicorn t-shirt. I can view his ether balance on etherscan.io ; the whole project just feels very open and fun to be involved in.
Back in 2015-2016 Vitalik added a Unicorn token to Ethereum, and if you donated 2.014 or more ether to that donation wallet you get a Unicorn ERC-20 token sent to your wallet. You can view that token and the holders on the blockchain too, theres a little over 3000 Unicorn holders.
Enough fundamental analysis .. price will ATH summer 2020, from there I guess we'll see those $2500+ dreamer prices by the end of the year.
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LegendOfSea
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is this still valid?
kyer
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@LegendOfSea, still on track; it’s in an accumulation period right now