PoS was in 2020, but ethereum increase significantly after the upgrade. I thought people were really excited about it, but not knowing it is in the way I am not thinking. I noticed that most PoS coins are not really increasing, except solana which was very volatile and was about to collapse in December 2022 when it fell to $8. Although, I think ethereum will still surpass $5000, bit I am not expecting huge increase from the coin after all-time high.
The problem with PoS coins is inflation (besides the centralization part). Supply will keep rising forever. Added scarcity on PoS would greatly change the rules of the game. I guess that's why ETH's "stuck" these days. Prices remain either static, or go down over a short period of time.
At the time of this writing, ETH is in the "red zone". In other words, it's "bearish". It hasn't gone back to $3k and beyond. The latest ATH I can remember is in 2021 where ETH was worth more than $4k. It was about to reach $5k. Will history repeat itself? We might never know due to the unpredictable nature of the crypto market. Better hold BTC instead.
That situation makes ETH encounter to much inflationary pressure, also the supply continue to rise and with that they cannot be called as scarce asset.
This is the main reason why it struggle to go up and their old investors feels, that they are been stuck since ETH is not moving well for many months.
Yeah we have seen ETH climb at $4k, but after the dump happened. We didn't see ETH recovers after many years pass. Seeing that we are in bearish situation, We have seen this coin struggling and stays above $2k.
With lots of situations we have seen on ETH, we can easily point out that BTC remains to be the safer option if we talk about long term holding compare on ETH.
