Ethereum Blockchain Will Be a “World Computer” if All Goes Well

By Maheen Hernandez October 22, 2019 Off
What is Ethereum

Justin Drake from Ethereum Foundation has been working on the scalability and sharding of Ethereum 2.0 to support the Ethereum Ecosystem and to enable newer use cases for the network.

The current Ethereum version will be able to handle only a dozen transactions in a second.  However, when the sharding happens, the computing load will be partitioned, and this will lead to an increase in the performance of the Ethereum.

Years of research have gone into the update by the Ethereum Community concerning Ethereum 2.0. To ensure the finality of the transaction, the project will be rolled out in different phases.  If everything about Ethereum 2.0 works well, this can turn out the Ethereum blockchain into a kind of a “world computer.”

A conference in this regard is set to happen on December 11, 2019, and December 12, 2019.

The price of the Ethereum meanwhile continues in a bearish trend, and it is trading sideways.  The cost of a Bitcoin is declining.  For as long as the $170 support holds, the price of the ETH might bounce back. The amount of the ETH spiked a little above $178, but it did not succeed to continue higher.  The MACD for the ETH/USD is in the bullish zone. The primary support level is seen at $170, and the significant resistance level is seen at $178.

There is strong psychological support seen at $170.

When it is about Bitcoin Peter Schiff, Bitcoin Critic opines that the BTC might collapse to $2,000. The analyst opines that the technical picture for the Bitcoin is very horrible. In his twitter account, he recently wrote:  “We are close to completing the right shoulder of a head and shoulders top, with a $14K head, and the neckline just below $8K, that projects a collapse to below $2K!”

However, Bitcoin enthusiasts are not in agreement, and many of them required that he prove his statement with words and appropriate actions.

Schiff does not consider the Bitcoin declining to $2,000 to be an excellent buying opportunity.  He feels that this kind of price movement will make Bitcoin dangerous and not ideal for some serious investment.

The price of the Bitcoin falling 90% down to $2K is not a decent bargain. And it can quickly further drop down to $200 from $2000.

Bitcoiners are getting desperate. Yet another technical tune-up shows that Bitcoin volatility is all set to come back and that a dramatic price swing is on the card.