Greetings, Fellow crypto enthusiasts and just good people!
Recently, our cryptolaboratory has switched its gaze to "our lesser brothers" - to the TOP 20 cryptocurrencies, having studied them carefully, along and across, token by token. However, we completely forgot how things are with the older comrades - Mr. Bitcoin and Mr. Ethereum.
After studying our reviews, we were horrified to discover that the last review on the Ethereum was already a year ago!
By the way, he worked well:
Etheric Triangle (ETHUSD) - will we support Vitaly?
It's time to fill in the gaps and see what new Vitalik Buterin is ready to give to the crypto world now.
And there really is something to profit from!
Ethereum 2.0
For quite a long time there has been talk in the circles of the ether community (confirmed by the statements of the developers) that the creators of the blockchain will switch from the Proof of Work validation system to Proof of Stake (PoS).
In simple terms, they will refuse the services of a large army of miners and begin to validate the block chain due to the ownership share belonging to this participant of the units of account of this cryptocurrency from their total number. This method is an alternative to the Proof of Work (PoW) principle, in which the probability of creating another block is higher for the owner of more powerful equipment.
At the moment, the ether blockchain uses a symbiosis of methods. There is also classic mining, but the PoS method is already available: any owner of 32 coins can use the Beacon Chain parallel network for quite a long time, where everything works according to the PoS algorithm. Crypto investors have already transferred 10 million coins to the Beacon Chain network, which is equal to $ 30 billion at the current exchange rate.
But what will happen when the PoW method sinks into oblivion? And what can such a change in the vector of development lead to?
Moreover, it is not long to wait (according to the developers) - about several months.
Many experts agree that after this event, the Ethereum will significantly drop in price.
Firstly, according to rumors, there is no consensus among developers on which way the cryptocurrency should go, which means scandals, intrigues, investigations are not excluded.
Secondly, no one canceled the "friends" of all new projects - bugs, because transferring an already functioning cryptocurrency to a new algorithm is an extremely difficult procedure. And thirdly, the human factor: the nerves of large investors may not stand looking at the descending chart of the ETH flowing through their fingers...
HOWEVER, not everything is so bad!
There are also positive factors. Due to the cessation of mining, Ether will become deflationary (it will gradually become more expensive), as coins will continue to be burned, and there will be significantly fewer new ones than usual. Plus, if the new approach to validation (without physical mining) proves its viability, it can remove almost all transaction costs associated with token mining. Well, no one has canceled the principle: "The Winner Takes It All".
Usually the cream is taken off by the pioneers, those who were the first to invent a new technology, to move to a newer path of development.
And a little technical analysis in the end.
Where should I look at the purchases of Ether?
Now the price, as a year earlier, is in a triangle - the question is where we will go out of it.
To purchase, it is advisable to use the following levels-values:
The lower boundary of the triangle + the level of accumulation of maximum futures market volumes (Point of Control) ~ $ 2600
If the price breaks the triangle down and is fixed under it - we are waiting for the touch of a powerful psychological level - 2000 and the formation of a reversal pattern 123 from it*;
Well, the crypto whales of the Ether "hid" at the mirror level - $ 1400 - we are also waiting for a reaction (reversal pattern) and begin our swim with goals:
$2600, $4000 and $ 5000 per coin.
*- I told you more about the 123 pattern in this video:
https://ru.tradingview.com/streams/gRrpeN1oB_3SU9m_uWrKl/
Good hunting to all, Friends, I will be glad to discuss the idea in the comments!