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Ethereum (CCC: ETH-USD) is hitting new highs, topping $4,500 for the first time on November 2, but for all investors who are making plans to take their profits and run, I have a piece of advice for singles.
Jajaja
Not yet, at least. Or maybe never.
Just a year ago, ETH-USD could be bought for less than $400, but in January, Ethereum and other popular cryptocurrencies started a race that would leave many cryptocurrency enthusiasts stunned.
Bitcoin, of course, gets the most attention. And thanks to the Reddit crowd and Elon Musk, Dogecoin (CCC: DOGE-USD) is also attracting attention, but for the casual investor, Bitcoin is the reference.
And Bitcoin had a smart year. It has outperformed by more than 300% over the past 12 months to succeed at $63,000 based on the piece.
This kind of far-fetched expansion may continue for the foreseeable future, according to analysts at British bank Standard Chartered, who say Bitcoin’s value may simply triple, seamlessly crossing the $100,000 mark.
What about Ethereum? These analysts say that the value of Ethereum can be multiplied by 10.
According to Forbes, the bank says that at some point in the future, the value of ETH-USD will surpass Bitcoin.
Ethereum is undergoing a lot of adjustments in those days that I think will help propel ETH-USD into the mainstream. This is the beginning of the adventure that helps Ethereum challenge Bitcoin for the supremacy of cryptocurrencies.
So Ethereum 2. 0 is moving from PoW to evidence of stake (PoS) that solves those kinds of problems.
The first component of this replaces the launch of the Ethereum tag chain, then the Beacon chain will be combined into the Ethereum mainnet and then over the course of 2022, Shard Chains will split the network to enable greater transaction processing capacity and knowledge storage.
Once done, Ethereum deserves to have greater scalability and speed for more transactions, it deserves to consume less electrical power and have a reduced carbon footprint, and it will have greater security.
The Ethereum platform is already a major player in non-fungible token (NFT) and decentralized finance (DeFi) applications, and this will be consolidated with the deployment of Ethereum 2. 0.
So, you can expect Ethereum to have some resistance and while it is unreasonable to expect a return of more than 1000% of Ethereum each year, I expect ETH-USD to take place. The best.
Cryptocurrencies, by nature, are much more volatile than the entire inventory market. You can get massive returns, but you can also suffer significant losses in the blink of an eye. And don’t forget that cryptocurrencies are not regulated, this would possibly replace at some point.
Personally, I’m left with around 5% of my total cryptocurrency wallet, but Ethereum is in my first pick in the space.
Patrick Sanders, a freelancer and editor in Maryland, from 2015 to 2019, led the investment advisory segment at U. S. News.
Attention Bitcoin! Ethereum’s bold rise is just beginning. made the first impression on InvestorPlace.