The second largest cryptocurrency in terms of volume is today higher on the chart by over 100 percent. if it compares its current price to that of March, when it dived during the great crash that took place then (it fell to just over USD 100). One analyst claims that ETH may still positively surprise investors. However, there are also fears that this will not happen. However, they concern more the foundations and not the technical issues on the chart.
Ethereum looks like BTC today in 2014 and 2015.
The analyst hiding under the pseudonym IamCryptoWolf recently shared the chart below, showing that the Ethereum rate from the 2018 peaks looks almost identical to what we saw on the Bitcoin chart in 2014 and 2015, before a sharp increase to USD 20,000, i.e. ATH cryptocurrency.
If you don’t see an accumulation, we can’t be friends. pic.twitter.com/MHTpuVqe87
– Wolf (@IamCryptoWolf) June 8, 2020
Hence, he predicts that in the coming weeks the ETH price will definitely exceed USD 270, and then start a sharp upward move. The same would suggest that the cryptocurrency will somehow break away from the BTC rate.
It sounds beautiful, but it is not so certain …
Managing partner of Multicoin Capital, Kyle Samani, in turn explained last week that the DeFi market “There are many real challenges”, which, however, prevent its development so far, and thus may prevent the adoption of Ethereum technology.
Samani believes that the very assumptions of the Ethereum reform, or Ethereum 2.0., Are wrong.
– You simply can’t build global multi-user transaction systems based on POW chains. It just won’t work. A long delay means all sorts of second order negative effects – argues. He adds that the issue of adoption is still poor.
Let’s also remember that Ethereum’s Achilles heel is still scalability, as investors learned about the 2017 bubble period, when the cryptocurrency network was clogged (similar to BTC blockchain).
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