The transition of the Ethereum blockchain to 2.0 is expected to take place by 2022. The expectation is that this transition will make blockchain mode scalable, green, and secure. Therefore, sustainable. The expectation is that this upgrade/merge will improve the demand for Ethereum. This is one of the reason for why many of them are planning to HODL despite the price trends whether high or low.
There is no fixed supply of ETH and some opine that ETH minting might slow down when the network transitions to 2.0.
Ethereum Network runs smart contracts, which are programmed contracts used by businesses. The programmed functions in the contract get executed without any kind of intervention by a third party. When a transaction is complete the payment process is automatically initiated and completed. Therefore, the Ethereum network has real world applicability to it.
NFTs (Non-fungible tokens) which are representations of ownership of original assets is also becoming famous. The real time usability of Ethereum is making it far better than BTC. Value collapse and value bounce backs are very common in the cryptocurrency space. What the market is facing now is that part of the market cycle where the value is plunging. With time, the price will recover. Those who sell are those who cannot for now afford the drama of perceived losses. Those who continue to hold are those who know the field better and they are not shaken by the plunge.
Those who are trying to buy the dip might feel like: “Every time I try to buy the dip, it dips more.” And, therefore, you have to find the “okay dip” for you to enter in to the market. There is nothing called a well-defined entry point in the dip. Those who buy ETH enter at different dip points. There is nothing called the best and the lowest as the market price keeps going up and down like the waves in the sea. Those who learn to sail through the waves are the profitable.
The Surprise reaction by the ETH community:
Good Surprise for some and bad for some.
Here is my guts feeling: ETH and ADA will dispute the first position in just few years. I don’t think BTC will stay dominant. Mark my words.
In my opinion ETH will fall when smart Contracts launch on ADA. And, when Ethereum projects convert over to Cardano using the Cardano ERC-20 converter.
The run-up that happened was true. Those who know profit making did profit. And, the original entry price for ETH for the investor made all the difference.
