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Ethereum To Brake All Time High – Higher Price And More Adoption

Ethereum to brake All Time High – Higher Price and More Adoption

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**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 to brake All Time High – Higher Price and More Adoption

I keep saying this over and over and over but things have change, different from 2017 bull market this time the market is focus on other type of users, now we have institutions with large amounts of capital starting to buy very large amounts of crypto to the point its taking over a vast amount of the supply of Bitcoin as it’s currently the largest part of this tiny market called crypto.

On 2017 what happen was a buzz that exploded across social media and this got social media users to jump in as they say how fast crypto currencies pump in price, we say Bitcoin going from $1500 to $20k, depending on the exchange. same for some other altcoins but the most notorious IMO was Ethereum going from $10 (January 2017) to $1,448 (January 2018) also pushing the price for many of the ERC20 token results of ICO mania so it was clear that retail investors would go crazy for this kind of gains wile institutions and other large investors would call it a scam, a one time thing and maybe if any of use was in their place after making millions of dollars running many businesses like they have may be I or you would think the same

“this crypto thing is a scam, is a bubble, it will go dead”

But we already know they were wrong, crypto as usual had its bear market period until this year where is actually trying to brake all time highs starting with Bitcoin but as I mention things have change, we now have large entities like PayPal, Microstrategy, Cashapp and many others, but it still fells retail investors are not here. Currently there is a big part of Ethereum that is focus to the retail sector meaning the small buyer and its DeFi, crypto currencies were created to cut the middle man meaning the institutions in between, a free network for users to transact 24/7 without someone to tell with who you can transact, when and charging fees without explaining why. Many people think PayPal was the catalyst to this market rally but I have to disagree on that, not because I like Ethereum, this market was already going up without PayPal if we look at the different charts after Corona crash the markets same as the stock market, crypto was recovering very fast and keep in mind that 2017 bull market happen without institutions.

Bitcoin Weekly Chart
Ethereum to brake All Time High - Higher Price and More Adoption
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Ethereum Weekly Chart
Ethereum to brake All Time High - Higher Price and More Adoption
Click Here Full Size Image

DeFi started this market, after a short period yes this small sector bubble of the market pop and then came bullish news for Bitcoin like Microstartegy and PayPal buying large amounts of Bitcoin, although nobody talks about the large amounts of Ethereum that is been locked up on multiple smart contracts related to DeFi and all the Ethereum that is locked for staking, with all time highs of $1400 and now only at half of it $600 for anyone who miss the boat on Bitcoin this is a huge opportunity.

Here some of the things Ethereum has carry out directly and indirectly since it was created:
– Increase security on crypto projects, this is because of all the exploits/hacks, more audits are happening since ETH was created
– Make Smart Contracts popular
– Decentralize Finance
– Made crypto games popular, cryptokitties
– Crypto Interoperability
– Finally push DEX to the trader masses, UNISWAP

Consider ETHEREUM achieve al this without proper changes to scale.

This is just a few that we can talk about without going to deep into the project, there is an article from Da Hongfei on cointelegraph that also talks about how Bitcoin is falling behind Ethereum in many ways not only in tech but also in adoption.

https://cointelegraph.com/news/the-butterfly-effect-why-defi-will-force-btc-to-break-its-21m-supply-ceiling

There are other smart contract projects that keep contributing to the space but with the #2 spot in market cap, probably also have one of the largest adoption rate and activity.

Data from Blocktivity.info
Ethereum to brake All Time High - Higher Price and More Adoption
Click Here Full Size Image

Ethereum is a serious candidate to skyrocket in price in the upcoming years, when I talk about go up in price Im not even referring to this bull run, if you hate the fact that never bought Bitcoin back in the day when it was at $100 or even $1000 I think for many of us Ethereum is one of the opportunities between our hands. Early this year Ethereum low was $110 putting an ETH node price (32 ETH) at $3,520, at current price of $602 a full node cost $19,264 very significant price change.

There are a few things that blockchain projects struggle with and Ethereum is no exception, decentralization and scalability, same as Bitcoin it has not achieve the proper way to scale to become faster, cheaper and efficient (POW) . Until them IMO Bitcoin will remain as the top crypto currency despite all Ethereum achievements, in the crypto space this achivements are not enough to take over Bitcoin in adoption and market cap, its true that now Bitcoin looks like this big old tech that people just buy and don’t use so it becomes very expensive, I think the main reason is both are still slow and become very expensive to use when everyone tries to do something with them, for this main reason I would say that there is no crypto currency now on the market that will surpase Bitcoin, they are still slow “decentralize” databases.

The main point of this article was to express my opinion of how much I think Ethereum has done for the crypto space and at the same time pointing out why it wont take over the number one spot in the crypto currencies rank by market cap.

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Good Luck, Thanks

DISCLAIMER: The information Cryptoxicate.com or its media channels not limited to Twitter, Telegram, Discord, Instagram, Facebook, or any upcoming social media platform or internet search engine results is not financial advice. This information is for informational and entertainment purposes only. Any information provided are only and simple thoughts and opinions, you must not follow any of this thoughts and look for a professional financial advisor since we are not any type of advisors. Dont not get into crypto currencies since its a high risk investment if you do not have the proper guidance and any investment that you made is your own responsibility and no one else.

#bitcoinhalving #bitcoin #ethereum #cryptocurrency #blockchain #crypto #tron #nuls #hive #binance

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