Why I'm watching ETH right now (but not buying yet)

[Texac]

I am still optimistic about the price of Ether. In the past, when the price of Bitcoin increased, the price of Ether also experienced a bullish movement. Various critics are now more optimistic about it. Geoffrey Kendrick of Standard Chartered predicted that its price would be $7,500 in January, even if it did not materialize, according to his long-term prediction, the price of each Ether is likely to be around $30k, especially by 2030. At the current price, $30k may seem unrealistic, but it is not impossible.

ETH is trading around $2.5k right now, with a market cap of roughly $300B and 120M ETH in circulation. So if it hits $30k each, we're talking nearly $4T in market cap.

Honestly that prediction just isn't realistic, and when it's this far-fetched the odds of it happening are even lower.

Since the price of Ether has not changed much in the past few years, there is a high possibility of a big bullish movement. That is why not only Geoffrey Kendrick but also Tom Lee, Cathie Wood and many others are expecting a lot from it.

Plenty of altcoins have been trading sideways for years too . Do you think they're all about to pump hard? 
Just because a coin has been trading sideways for years doesn't mean it's about to break out. Tbh, that argument doesn't make much  sense.

Look at real demand and what's actually driving growth, not how long it's been flat or how many famous name are calling for a leg up .

[Abiky]

If you think his $18k price target is absurd, just know that Tom Lee from Bitmine says we will get $5k this year and that it would go to $20k+ and even higher. If any of those price targets hit in the near future, I would be pleasantly surprised as I don't see it coming. We got $5k last year so if history repeats itself, we might get it there this year.

I think it's absurd. Because ETH has inflation built-in. Not to mention, there's not enough momentum to push market prices all the way up to five figures. ETH's been struggling to head back towards $5k (or close to it). The only exception would be if BTC continues to rise at a non-stop rate. That would make ETH and subsequent alts "pump" in price.

What really "killed" ETH was various L2 networks deployed by third-parties. It shifted away adoption from the main chain, into these separate chains. In other words, value moved from L1 ETH to L2s. To make matters worse, L2s relied on their own token, instead of the native L1 ETH token (with the exception of Base). Vitalik and team must come up with something that would make ETH more useful compared to the rest of its peers. With greater usability, comes greater adoption (hence, higher market prices). Please correct me if I'm wrong. We can't predict what the future holds. So expect the unexpected.

[nelson4lov]

~Snipped

I think it's absurd. Because ETH has inflation built-in. Not to mention, there's not enough momentum to push market prices all the way up to five figures. ETH's been struggling to head back towards $5k (or close to it). The only exception would be if BTC continues to rise at a non-stop rate. That would make ETH and subsequent alts "pump" in price.

What really "killed" ETH was various L2 networks deployed by third-parties. It shifted away adoption from the main chain, into these separate chains. In other words, value moved from L1 ETH to L2s. To make matters worse, L2s relied on their own token, instead of the native L1 ETH token (with the exception of Base). Vitalik and team must come up with something that would make ETH more useful compared to the rest of its peers. With greater usability, comes greater adoption (hence, higher market prices). Please correct me if I'm wrong. We can't predict what the future holds. So expect the unexpected.

I think the Ethereum protocol team is aware that their scaling via L2 plan was a flawed one. The idea was that if they channel all the adoption they had at the time to L2s and those L2s remit back to Ethereum that all would be good. They didn't know that fragmented liquidity across those L2s will become a problem.

Scroll is basically dead. Abstract shutdown last week, Zksync almost dead, Starknet is transitioning to an L1.


Btw, if market picks up again, almost no one will remember that ETH is inflationary and would either buy or go long.

[Odusko]

LT2 network migration hasn't added anything to ethereum in terms of value or scalability, but that said, we can't afford to miss out on the chance to buy ethereum at a much lower price than we have right now, even though ethereum can have a tough time adding up anytime soon, unless there is a drastic Bitcoin bull market that pushes the price of the majority of altcoins up, including ethereum.

[Delaforetnoire]

What if Ethereum don't dip anymore, are you not going to buy at all. If you don't buy, it means that you don't have confidence in yourself and in Ethereum. I wouldn't buy any shitcoin at this time but only Bitcoin.

Are you somehow calling ETH a shitcoin?

According to the market, the price of ETH going up and down is a different matter but whether you will buy it or not is entirely your personal matter.

According to the way you speak, it seems that you have no trust in Ethereum, which is why you said it with so much bitterness.