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.

[free-bit.co.in]

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.

Dunno if he is a Bitcoin maxi, but if he is, you shouldn't be surprised that he calls ETH a shitcoin.

It's not just ETH, either. In the eyes of hardcore maxis, the whole altcoin market gets slapped with the shitcoin label. To them, Bitcoin is the only thing with any real value. Everything else is shit, has no real potential, and isn't worth investing in 

[Delaforetnoire]

Dunno if he is a Bitcoin maxi, but if he is, you shouldn't be surprised that he calls ETH a shitcoin.

It's not just ETH, either. In the eyes of hardcore maxis, the whole altcoin market gets slapped with the shitcoin label. To them, Bitcoin is the only thing with any real value. Everything else is shit, has no real potential, and isn't worth investing in 

Yeah, that's what it seems like. Bitcoin is the most popular and best coin in the market and we all know more or less about it, but there is no point in seeing the altcoins around it as shitcoins or labelling them as shitcoins.

Those who understand the market and know the history of coins will never look at things randomly like hardcore maxis.

[fullfitlarry]

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.

Everyone has the right to say whatever he wants, even if some of us doesn't agree with it. So don't take it personal as well as everyone might have a different interpretation of ETH and what shitcoin are.

Maybe those who see other coins outside of Bitcoin, but in any case, the problem with ETH and for sure their supporters knows it, is that during the last bull run, ETH might have fall from the radar of investors as the prediction didn't sit well and somewhat didn't reach the hype. That's why most of us here might have to question what really happen to ETH and it if it still worth a try to buy and see if there is a potential profit.

[free-bit.co.in]

Everyone has the right to say whatever he wants, even if some of us doesn't agree with it. So don't take it personal as well as everyone might have a different interpretation of ETH and what shitcoin are.

Maybe those who see other coins outside of Bitcoin, but in any case, the problem with ETH and for sure their supporters knows it, is that during the last bull run, ETH might have fall from the radar of investors as the prediction didn't sit well and somewhat didn't reach the hype. That's why most of us here might have to question what really happen to ETH and it if it still worth a try to buy and see if there is a potential profit.

Yeah,  everyone's  got their own investment views . We should respect each other's views instead of trying to force our own opinions on other or attacking them just because they disagree with us.  That's something some Bitcoin maximalists have done in the past.

We keep saying that we should take a longterm view and invest with a 5-10 year horizon, or even longer, right? So is it fair to write ETH off as having no  potential just because  it hasn't risen  as much as people expected, or as much as it did in previous cycles?

You gotta judge a coin's potential on the fundamental, not just on the price pump you were hoping for.

[Jostern]

Everyone has the right to say whatever he wants, even if some of us doesn't agree with it. So don't take it personal as well as everyone might have a different interpretation of ETH and what shitcoin are.

Maybe those who see other coins outside of Bitcoin, but in any case, the problem with ETH and for sure their supporters knows it, is that during the last bull run, ETH might have fall from the radar of investors as the prediction didn't sit well and somewhat didn't reach the hype. That's why most of us here might have to question what really happen to ETH and it if it still worth a try to buy and see if there is a potential profit.

Yeah,  everyone's  got their own investment views . We should respect each other's views instead of trying to force our own opinions on other or attacking them just because they disagree with us.  That's something some Bitcoin maximalists have done in the past.

We keep saying that we should take a longterm view and invest with a 5-10 year horizon, or even longer, right? So is it fair to write ETH off as having no  potential just because  it hasn't risen  as much as people expected, or as much as it did in previous cycles?

You gotta judge a coin's potential on the fundamental, not just on the price pump you were hoping for.

You’re right, it’s just better to focus on what we think works for us, sometime people goes too far in their usage of words, everyone has their own investment plans and ideas, either it’s working for them or not, you have to always consider how someone else feels by trying to respect their decision and opinions, some individuals doesn’t know how to make use of words that wouldn’t make them insult someone else, I don’t have any problem someone choosing to invest in some certain type of cryptocurrency, bitcoin is there for everyone to invest, and if by chance you choose an altcoin is personally not anyone concerns, I think sometimes people should learn how to use words, which can help in being diplomatic.

[Female King]

You’re right, it’s just better to focus on what we think works for us, sometime people goes too far in their usage of words, everyone has their own investment plans and ideas, either it’s working for them or not, you have to always consider how someone else feels by trying to respect their decision and opinions, some individuals doesn’t know how to make use of words that wouldn’t make them insult someone else, I don’t have any problem someone choosing to invest in some certain type of cryptocurrency, bitcoin is there for everyone to invest, and if by chance you choose an altcoin is personally not anyone concerns, I think sometimes people should learn how to use words, which can help in being diplomatic.

Anybody can actually do what ever they want to do this shouldn't be any one business to talk about, what ever is working for you do it and don't blame anyone if things went bad. There is different coin among cryptocurrency to invest on, anyone can choose to invest on what they want, if they chooses altcoins or shitcoins over bitcoin is also their business so i believe everyone decisions and opinions should be respected, but i wouldn't advise anyone to invest into altcoins or shitcoins when we have bitcoin the most reliable and trusted coin to invest into.

[Abiky]

Dunno if he is a Bitcoin maxi, but if he is, you shouldn't be surprised that he calls ETH a shitcoin.

It's not just ETH, either. In the eyes of hardcore maxis, the whole altcoin market gets slapped with the shitcoin label. To them, Bitcoin is the only thing with any real value. Everything else is shit, has no real potential, and isn't worth investing in 

I guess it's because most altcoins are centralized. I mean, no other crypto can outmatch Bitcoin's level of decentralization and resiliency. ETH used to be a good coin back then, but now it's "ruined". Especially after the switch to PoS. Of course, other coins are in a worse state than ETH. Among the zillions of centralized "shitcoins", ETH stands on top. What's "killing" its ability to reach higher market prices, is huge competition in the "De-Fi" space. It may be less centralized than rivals, but it's sluggish and expensive at times. Competitors such as Solana and BSC are cheaper and faster to use.

We'll have to see if "Wall Street" picks up ETH. Their capital inflows might be able to move things into the right direction. Whenever you'd buy ETH now or just wait for lower prices, that's entirely up to you. For long, ETH has been struggling to reach a new ATH. It must get past $5k. Otherwise, investors will simply look elsewhere. We'll see what happens...

[bangjoe]

Dunno if he is a Bitcoin maxi, but if he is, you shouldn't be surprised that he calls ETH a shitcoin.

It's not just ETH, either. In the eyes of hardcore maxis, the whole altcoin market gets slapped with the shitcoin label. To them, Bitcoin is the only thing with any real value. Everything else is shit, has no real potential, and isn't worth investing in 

I guess it's because most altcoins are centralized. I mean, no other crypto can outmatch Bitcoin's level of decentralization and resiliency. ETH used to be a good coin back then, but now it's "ruined". Especially after the switch to PoS. Of course, other coins are in a worse state than ETH. Among the zillions of centralized "shitcoins", ETH stands on top. What's "killing" its ability to reach higher market prices, is huge competition in the "De-Fi" space. It may be less centralized than rivals, but it's sluggish and expensive at times. Competitors such as Solana and BSC are cheaper and faster to use.

We'll have to see if "Wall Street" picks up ETH. Their capital inflows might be able to move things into the right direction. Whenever you'd buy ETH now or just wait for lower prices, that's entirely up to you. For long, ETH has been struggling to reach a new ATH. It must get past $5k. Otherwise, investors will simply look elsewhere. We'll see what happens...

Yes, that's a very correct assessment of how Maxi Bitcoin sees alternatives, it's just that we need to realize that most altcoins are businesses with different business models, obviously in principle it will be different, so with ETH, the developers have their own way of making their business schemes, as well as other alternatives, the most important thing for them is how the community can use the existing network and protocol to get transaction fees as their source of income.

Defi is becoming widespread and diverse because everyone has a different way of making a feature, logically if we make a coin that resembles bitcoin, will it be interesting? of course not, because the winner will still be bitcoin, we have already seen how many developers are replicating bitcoin.

Speaking of institutions in investing I don't understand what makes them interested in an altcoin project, what is important for them is whether it will provide profits or not, just what analysis details are prioritized, we can't guess, and for me ETH is not the only altcoin with a good way of working, there are better ones in the price movement of the coin.

[free-bit.co.in]

We'll have to see if "Wall Street" picks up ETH. Their capital inflows might be able to move things into the right direction. Whenever you'd buy ETH now or just wait for lower prices, that's entirely up to you. For long, ETH has been struggling to reach a new ATH. It must get past $5k. Otherwise, investors will simply look elsewhere. We'll see what happens...

WS is already in on ETH, and heavily too. BlackRock's ETHA hold an estimated 3m ETH, while US spot ETHETF collectively hold around $17b worth. Then there's Tom Lee's BMNR, holding 6 million ETH, or roughly 5% of the total supply. Plenty of smaller companies are holding ETH too.

The big players are pouring billions into it, but it's funny that retail guys like us are the ones calling it a shitcoin, useless, or a project with no potential left

[nelson4lov]

WS is already in on ETH, and heavily too. BlackRock's ETHA hold an estimated 3m ETH, while US spot ETHETF collectively hold around $17b worth. Then there's Tom Lee's BMNR, holding 6 million ETH, or roughly 5% of the total supply. Plenty of smaller companies are holding ETH too.

The big players are pouring billions into it, but it's funny that retail guys like us are the ones calling it a shitcoin, useless, or a project with no potential left

We can't blame retail lol. The reality is that retail has been burnt one too many times that's why there's skeptism from retail about ETH. Nobody even believes "this time will be different" anymore. Actually, retail did believe last year when eth moved a lot when Tom Lee first started the Alchemy of 5% ETH accumulation. But retail got burnt again in that round because ETH went to sub 2k six month later.