The recent pump of the Bitcoin in early 2021 and its ATH at 42 000 $ has excited the whole crypto environment. As often, most of the Altcoins have followed the way and many people migrated their portfolio to ETH. But the pump waited by everyone seems to be late. When will it happen ?
ETH 2.0 : from PoW to PoS
As you probably know it, the Ethereum Blockchain is currently using the "Proof of Work" technology, the same as the bitcoin one. To explain it very shortly, "miners" secure the blockchain by providing power with their CPU and are rewarded for it. This protocol has many limits such as the lack of scalability of the network and some very high gaz fees (gwei on the Ethereum blockchain).
The transition to the "Proof of Stake" technology has already started since a few months with almost 3 million Ether (ETH) locked for the ETH 2.0 launch. 2% of the whole ETH tokens are already locked. This launch will engender a blockchain much more scalable and with very less transaction fees. This is a turning point for Ethereum blockchain and lots of people think that the prize of the Ethereum token will rise significantly in the future due to it.
A promising chart prize
I'm not a trader, graph analyst, economist or anything like that. But in my opinion, this chart shows us a huge consolidation under the 1 400 $ that could be broken soon. If it happens, and it seems like it should happen in the following days or weeks, it might explode to (the moon ?) a new ATH much higher than in the past. If you look at the end of the chart, the skyrocket may have already started its take-off.
With all the aspects mentioned in my article, I think you should look at Ethereum carefully and maybe take a bag of it. Whether it be short-term or long-term, ETH is the leader behind BTC and is for sure a safe investment.
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