Ethereum predictions and why you should consider it
Hey guys, welcome back to my channel, I’m stockped. Today we’re doing something different and i’m going to be talking about Etherium, yes the lovely Ether which is really going mainstream as did Bitcoin not long ago.
As always, before we get started, can i get 100 subscribers before the end of January, that would be super cool. It does take quite some time to prepare these videos and research.
Lets get into it !
Some of you might be wondering why on earth have i switched from talking about Salmon (AQB stock) to Ethereum, well the answer is diversification. Although i am not a financial advisor, personally i can tell you from experience, it’s good practice to spread your investments and not just put all your eggs in one basket. Approx 10% of my investments are in crypto, mostly Ethereum. Let me tell you why i believe Ethereum is good enough for my portfolio and why im personally excited about it.
So what is Ethereum, well for those who know all about ethereum, feel free to skip past this but, but i think it’s important to understand what you are getting yourself into and putting your hard earned money into.
Ethereum is in a nutshell is a decentralized network, much like a standard network we think when we think about networks controlled by a server admin, ethereum is not controlled by a single person or persons, it’s controlled by logic. You can create dapps which is another version of an app and dapps again are run by logic coded into them. Once a dapp is uploaded on ethereum network, it can’t be taken down, changed or manipulated by anyone and the code written into it dedicates what happens. The code is a smart contract which will give the users of the dapp exactly what they want once the conditions are met.
The other benefit to using ethereum to create dapps on is there is no need to then source third party online payment services like PayPal for example as ethereum has its own currency and its extremely secure.
Despite the altcoin market existing for around a decade now, and Bitcoin coming into play in 2009, the only cryptocurrency player ever mentioned in its league is Ethereum. Ethereum is a public, peer-to-peer network, with its own cryptocurrency called Ether. It’s biggest difference to Bitcoin is that, while Bitcoin aims to become a globally adopted currency that could replace conventional money, Ethereum is a world computer upon which smart contracts (digital contracts which automatically execute when their terms are met) and decentralised apps can run.
In 2016 there was hype surrounding Ethereum in the sense that people predicted it could even overtake Bitcoin as the most popular crypto asset. Since then, Ethereum’s price has fallen quite considerably against Bitcoin, but it still plays a considerable role as a popular altcoin (Tech Radar - S.Kopleman 2020).
Ethereum is essentially about to touch all time highs and i personally think it we will see this push past the previous all time high of $1416 or there abouts very soon. A few reasons why, first this is very much a case of supply and demand, like fiat currency (which keeps being printed like it’s going out of fashion).
Firstly, we can see the exchanges that sell ethereum are running out of supplies, which is same thing that happened to bitcoin, and look what happened to that. Ethereum does more or less follow the same footsteps historically speaking as Bitcoin. With the reserves running low when this article was published, 27% left on exchange with the remainder of it going to offline wallets, meaning this is selling like hotcakes.
I dare say when this reaches critical low levels, we are definitely going to see the price of ether push past all time highs possibly beyond 2k per ether to begin with. Long term this could once pushing past previous all time highs reach 25 - 27k in this current bull market.
Well, with the new update to the ethereum network “Ethereum 2.0”, part of this changes the way ethereum rewards it’s miners for processing transactions on the network. Gas is used as a fee to process the transaction and normally the miners set the price of gas, however with the new update, the gas fee which is paid in ether will be used up meaning there will be less and less ether supplies meaning obviously demand will outstrip supply - that equals higher prices of ethereum and we all get stupid rich (in therory).
I hope you enjoyed you the quick intro to Ethereum for those who are new to it, i would urge you to do some home work and see if its for you. Remember anything below the previous all time high of $1416 is still a good price, obviously if it dips below that, its even better.
But dont be one of those guys or girls who in 2 - 4 years looks back and thinks wow, i thought 1200 was high but now at 26000 its super high and that point you will be kicking yourself (much like i did with bitcoin).
Have fun, stay safe and i’ll catch you all on the net video!