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Ethereum About To Follow Bitcoin – Not Lagging Anymore

Ethereum about to follow Bitcoin – Not lagging anymore

**Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet**

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Ethereum about to follow Bitcoin – Not lagging anymore

Usually I leave the charting for weekends but now Bitcoin is flying and there is literally nothing to stop it. At the moment of this post there is no person on planet earth who bought before today that is on the red, even the ones who bought the 2017 absolute top and hold are on green right now for over 5%, the question in hand is “When altcoin season?”. Recently when Bitcoin took a rest we saw some altcoins starting to move but Ethereum was lagging behind a bit compare to some of them, you might say that’s odd because it usually sky rockets and everything else follows, well it was also taking a rest from that move of $380 to almost $600 and today Ethereum broke $600.

-Even if you havent putting much attention to Ethereum before 2020, as I didnt, this year Ethereum has a accomplish many things, not only been the father of DeFi, we now have multiple projects if not hundreds chasing the idea of Decentralize Finance, with prices going crazy high as we saw this year $YFI reaching $40k+ at it’s all time highs, there are a few facts that will catapult Ethereum to new all time highs:

-Ethereum 2.0 launch, main point of this announcement is staking, this is what media talks about but there is more to it as now Ethereum will be able to scale using Sharding, is Sharding good enough that’s a topic for another day.

-The end of Ethereum POW, for miners this will be sad but I’m sure there will be many other coins to mine, recently 4GB Video Cards are going out of the network with most recent size increase of the DAG, making a lot of cards obsolete but there are a few miners that you can still use and mine, the point is that Ethereum mining will slowly die, we probably have two more years before it goes away, this is good because most mining operations is just a waste of resources.

-Ethereum futures on Chicago Mercantile Exhcante CME, this is big as it opens the door for new traders to jump in, new blood to the market, more liquidity on the long run and advertisement as when Ethereum breaks all time highs all this new traders will tell others that are still not involve.

-Privacy features on the Ethereum ecosystem, not only through INCOGNITO now with UNISWAP biggest Decentralize Exchange but recently another protocol announce that they will bring privacy features to the Ethereum network including ERC-20 tokens, Zcash level privacy through smart contracts.

-DeFi is just starting, different to other phases of crypto like staking, masternodes, dapps, DeFi brought into Ethereum what all this others couldn’t and that’s Institutions, along with the crazy volume.

-wBitcoin, even though this is a DeFi creation now you can trade “Bitcoin” on Ethereum DeFi apps with Wrapped Bitcoin, I think this is important to mention because this is something that was not possible and interoperability at its 100% is coming between blockchains.

This is just a few things to mention that Ethereum and some of its ERC-20 has carry out on 2020, it’s just a few projects that have accomplish this much on 2020 also take in consideration that this is still the second biggest important crypto currency in the world.

Ethereum Daily Chart
Ethereum about to follow Bitcoin - Not lagging anymore
Click Here Full Size Image

Price has also move, since March 13, 2020 dip, price has move over 550% with a bottom close to $85, currently the price action looks very healthy and just to break December monthly opening of $638, there are other aspects of the charts that look extremely positive, MACD getting out of the negative, I don’t like using RSI during this market conditions since crypto assets can stay overbought for days on bull market, last and I would say most important how spread the 200, 20 and 50EMA are away from each other. During this market conditions for me 20EMA turns out to be the most important indicator combine with monthly and weekly opening as shown on the chart, yes it sounds dumb but this are then times when you just buy the dip and long your longs until it doesn’t work anymore, going short is very risky and I can’t denied sometimes I try.

There are some ERC-20 tokens that will rip your faces in 2021 with how high they will go in price, there is one that has a “questionable” reputation by many people online but for me at this moment is a low risk since I got in few months ago so I’m on the green.

Celsius Network (CEL)
AAVE
Compound (COMP)
Ampleforth (AMPL)
PancakeSwap (CAKE)
UNISWAP (UNI)
HEX (HEX)

This is still very cheap alternatives as to Ethereum price that will move along with Ethereum most of them will do 10x as many other altcoins but having the backup of the second biggest crypto asset Ethereum, considering that a vast amount of the circulating supply will be getting locked on a daily basis to stake and now it’s not only ppl running full ETH nodes, now other platforms like exchanges have staking pools where you can jump in to stake with as low as 0.001 ETH so mathematically ETHEREUM price on 2021 can’t be stop from going up, yes there will still be hacks, dumps and ppl loosing money on DeFi but that has nothing to do with the price of Ethereum. Also remember crypto is still the wild wild west, anything can happen at any moment, all this can go to zero and trading/investing is not about predicting the future its about be prepare to react based on previous events and now situation based on probabilities.

If the Bitcoin ship sale for you as for many of us because it’s just a bit expensive now and a lot of institutions own large amounts, IMO is not the crypto currency of the people anymore, Ethereum and ERC-20 tokens could be your second chance.

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