Long Stretched Bull Run ahead for Ethereum – Best Price Not Reached YetMay 18, 2019
The several thousands of dapps and tens of thousands of smart contracts on Ethereum will be migrating from the second largest decentralized network in the world. The transition will be from the proof of work platform to a proof of stakes blockchain network. This migration will improve on the transaction speed and the reliability level providing for improved expansion potential.
John McAfee, Founder of MacAfee Internet Security firm, stated, “Folks asking my opinion of Ethereum: Well . . . Frankly, I prefer one syllable coins and am not fond of Ethereum’s spelling. Additionally, many of my friends who hold Ethereum dress oddly. And, of course, Buterin looks underfed to me. But do not take this as investment advice.”
In the current Bull Run, Ethereum is holding a strong position in the current Bull Run next to Bitcoin. The Bollinger bands are indicating a surge in the volatility. The Awesome Oscillator showed a bullish buying opportunity. It indicates that the short-term momentum was rising faster than the long-term momentum. The RSI indicated high buying pressure by crossing the 70 line mark.
Earlier this year, several critical security flaws were noted. However, patches were not made available to fix the critical security flaw.
Karsten Nohl stated, “According to our collected data, only two-thirds of nodes have been patched so far.” He further added, “Our research suggests that there was a time window when a 51% attack was more likely to happen — just after the security patch for the DoS vulnerability was released.” However, he clarified that patch problems are very common with Blockchain clients of all types and not only Ethereum.
About 50% of the blockchain projects of Deloitte are on Ethereum. Recently, announcements stated that Deloitte moved to VeChain.
Antonio Senatore, Global CTO for Deloitte’s Blockchain, stated, “Deloitte believes strongly in multi-platform development, and 50% of our projects are built on Ethereum.” Further added, “We will launch an extensive project by the end of the year on the Ethereum platform.” The use cases in blockchain are different, and not all are looking for the same use case.
Ethereum has not reached its best price until date.
Ryan Selkis, CEO of Messari, stated, “Proof-of-Stake and Ethereum 2.0 to happen before the end of 2021 at the earliest.” Selkis further noted that we will see yet another Bull Run, which will be a long stretched Bull Run as opposed to a regular shorter bull run.