3 Reasons To Be Bullish on Ethereum Right Now

3 Reasons To Be Bullish on Ethereum Right Now

The average $ETH trading volume during the past week has been 4 times larger than the average volume for the second half of 2019. Somebody has been buying a lot of $ETH. pic.twitter.com/haWJ4JO6W0 — Alex Krüger (@krugermacro) February 18, 2020

So what is driving all the ETH bullishness? Low Price From ATH Ethereum is still at a very low level from its all-time high and can really be considered as still in a bear market until it breaks $400. At today’s prices ETH is still 80% down from its peak whereas bitcoin is less than 50% down. Even after its recent rally, Ethereum prices are still viewed as a good buy with a lot of potential to go higher. ETH 2.0 Hopium During late 2019 Ethereum was under fire from all angles for delays in pushing Serenity out and the Muir Glacier fork which extended the difficulty bomb. Developers were frustrated and investors annoyed as prices slumped as low as $120. 2020 has brought renewed optimism for the network with promises that at least the first stage of ETH 2.0 will be launched this year heralding in a new era of staking opportunities on Ethereum. Other PoS tokens such as Tezos have done extremely well recently as exchanges have offered staking rewards, making it easier for the layman to get involved and earn from crypto. Ethereum Use Cases Ethereum is no longer just the fuel for ICO war chests, it has advanced since 2017 and has so many more use cases today. A burgeoning DeFi market has reinforced the notion that ETH is the money of the internet as if becomes the foundation for this new financial landscape. There have been a few hiccups with DeFi this week but all new technology goes through teething pains so this is perfectly normal despite what the bitcoin maxis say. ETH is also being increasingly used in the crypto gaming industry and is the standard platform for non-fungible tokens. Notwithstanding the claims of rival platforms such as Tron and EOS, Ethereum is still the industry standard for smart contracts and decentralized applications. After a two year bear market, 2020 will be the year Ethereum recovers and shines again. Will ETH prices reach $400 this year? Add your predictions below. Image from Shutterstock

 

source: https://bitcoinist.com/3-reasons-to-be-bullish-on-ethereum-right-now/

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