Sell Ethereum for “X” – only after a few years
Analysts at Into TheBlock report that 67 investors consider Ethtereum the most profitable cryptocurrency. Moreover, this survey was conducted after a massive collapse in the market, the victims of which were a third of the respondents. Such a positive opinion is explained by the early entry into trading: about 60 percent of the players managed to buy Ethereum at the rate of 1,800-2,000 dollars. Perhaps this indicator is quite enough to believe in the upcoming deep drawdown below the rate of $2,000. However, there are other signs that hint at the reverse scenario, ie. correction followed by a reversal up:
● Firstly, the amount of storage of the “silver” altcoin on whale wallets set a new record – 26.22 million ETH (according to the current exchange rate, the amount of storage is estimated at 80-91 billion dollars – the figure varies depending on the choice of altcoin storage);
● Secondly, the ARK Invest fund predicts an increase in the capitalization of ethereum to $20 trillion by 2030 (with this amount of funding, the altcoin rate should be more than $30,000);
● Thirdly, Coinbase analysts predict that ETH will be replaced by Ethereum 2.0, which will process hundreds of thousands of transactions per second and require less fees than its predecessor.
Already today there are many projects that function better than thematic altcoin. Among them are Solana, Cardano, PolkaDot. However, they are inferior to Ethereum in two aspects – insignificant sponsorship, lack of a roadmap. And although last year the closest competitors of Ethereum pleased with multiple pumps, the dependence on BTC and ETH whales makes itself felt. The capitalization of these leaders is many times greater than that of altcoins.
Exchange ethereum – how expedient is it
Most likely, in the current year, the ETH blockchain will switch to the Proof-of-Stake consensus. As part of the current updаte, the classic ETC can become a serious leverage. The latter has already managed to rise in price along with the receiver on the eve of 2022. But the desire to exchange Ethereum for Ethereum Classic or a promising altcoin may be in vain:
● First, ETC can become obsolete in a complex way, as it once happened with BTG;
● Secondly, the current panic among the players is a drop in the ocean if we take ETH whales into account (we should not compare the weekly outflow of 200,000 ETH with the storage of 26.2 million tokens);
● Thirdly, the recent collapse of the Ethereum rate was partly facilitated by the high activity of users on the OpenSea exchange (trading volumes on the thematic platform reached $4.5 billion, which caused 21,000 ETH to be redirected to Coinbase).
After any rise, there is a decline, and when it comes to cryptocurrencies, the corresponding process takes place on the eve of spring. To be convinced of this, it is enough to recall the year 2018. However, the current potential of the cryptocurrency market is so huge that after reaching the rate of 1800-2200 dollars, a sharp upward reversal can occur – the third pump in the last year. In this case, it will be possible to sell ethereum for at least $4,800.
