Could Ethereum Ever Surpass Bitcoin?
As many people know too well, COVID-19 has greatly damaged the global economy. Unfortunately, Crypto Currencies such as Ethereum have not gotten the chance to rebound. Ethereum had a tragic year in 2019 as prices went as low as $130, and now in 2020, it is hardly breaking $200.
I remember a time, back in 2018, when ETH skyrocketed over $1000. Those kinds of enormous price surges is what we should expect from Bitcoins runner-up. And despite the recent economic downfall, Ethereum has managed to remain the second largest Crypto Currency by market cap.
Do you know what is happening with Ethereum today?
Similar to other Crypto Currencies, Ethereum is awaiting an upgrade called Ethereum 2.0 and is also known as, Phase Zero. This upgrade is scheduled to take place on June 30th, 2020, however, there are many speculations that the transition will be pushed to 2021.
Over the years, Ethereum has grabbed a lot of attention and continues to surprise us all. I just recently came across a very intriguing statistic, reported by dapp.com. In 2019 there were a recorded 1.4 million dApp users, and in 2018, the recorded dApp users was 800,000. I believe that statistics based on the number of users can be very reliable, more users equals more demand. Also, for user basis to double within a year is very impressive and will only continue.
The crazy part is that Ethereum has the potential to surpass the price of Bitcoin. Getting in on ETH is the perfect opportunity for anyone who missed the early Bitcoin trends. I have no doubt that ETH will return to $1000 and then break its limits over and over again.
If you have ETH price predictions of your own, please post them in the comments below.
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Just a small correction about this... It wasn't a COVID that damaged the economy... It is the humans' bad reaction to it that has made the damage... So, responsible for the economic collapse are governments around the globe...
And I'm bullish about ETH... Staking is coming soon, so I expect that that will also pump the price as people will FOMO... Of course, all the other things that you have mentioned will be a big push in the future...
I think there are a lot of potential ETH buyers out there who are waiting to see what happens in the aftermath of ETH 2.0.
I believe that they will be late to the party on Ethereum though. Many people (myself included) are stacking ETH in anticipation of the potential for a more scalable, versatile and compatible blockchain as ETH 2.0 takes effect. I’m also watching closely to see what happens with the staking capabilities — I’ll likely use 32+ of my ETH to create a staking node and earn some of those PoS rewards 🚀
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ETH has a bad code base.
If they could fix the code / gas problem. Then they could grow, but they are stuck in a rut with current code.