Community Trust ScoreVerified
- Scary Level of Genius of Vitalik Buterin
- Serenity a.k.a. ETH 2.0 Phase 0, 1, 2
- Trying to Understand Ethereum
- Short sellers Controlling Ethereum Price Trend
Someone commenting about Vitalik Buterin after looking into the Lex Fridman Interview said: I get scared every time I listen to Vitalik speak because every word is so well thought out, every idea is so clear. Scary level of genius and an overall awesome human being. He is brilliant but can communicate in very plain language – easy to understand.
Vitalik Buterin quote: “Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the Taxi drivers work with the customer directly.”
For those who are new to Ethereum, Ethereum 2.0 (also known as Serenity) is designed to be launched in three phases: “Phase 0” was launched on 1 December 2020, and it created the Beacon Chain, which is a Proof of Stake (PoS) blockchain which will work as the central coordination and consensus hub of Ethereum 2.0. “Phase 1” focused on creating shard chains and on further connecting them to the Beacon Chain. Finally, “Phase 2” will implement state execution in the shard chains, and the current Ethereum 1.0 chain is expected to become one of the shards of Ethereum 2.0.
Those who are trying to understand Ethereum should explore Ether as a cryptocurrency, accounts, addresses, virtual machine, gas, governance, difficulty bomb, comparison to Bitcoin, EVM, contract source code, ERC-20 tokens, non-fungible tokens, decentralized finance, enterprise software, permissioned ledgers, and performance.
Ethereum (ETH) price trends: Short-sellers control Ethereum price in the current trend. Short-sellers are here to make profits irrespective of whether the markets go high or low.
Short sellers of ETH are those who buy ETH and sell it on the open market. They are those who plan to repurchase it later for less money. It is legal for such selling to happen. Short sellers make profits from a falling market by doing so. Some buyers are looking to enter the best price go long. Sellers repeatedly take over from buyers at very logical entry levels known as Whipsaw price action.
A whipsaw is a reference made to any price movement, which is the opposite direction of a trader’s intended bet. This can result in loss, or they will optimize the fluctuations in price to maintain the investment and even to realize a profit.
There is a “red descending trend line,” and there is a long queue for short traders following it to begin selling ETH. A market filled with ETH short-sellers pushes Ethereum price below. When this happens, usually for the rest of the week, ETH is not going to and will not recover above it. This pattern typically repeats in the market at reasonable handover prices of Ethereum based on the current market sentiments, resistance, and support levels.
