HIGHEST Ethereum Price Prediction Summer 2021 (ETH Holders Will LOVE) - YouTube

Ethereum, the no. 2 overall cryptocurrency, is charging,

laying waste to both haters and doubters,

but one person and one community never lost faith.

That-- that's us, guys.

You and me.

The BitSquad has been HODLing ETH all year in hopes of that $2500 prophecy.

It's being realized as we speak.

Find out what we should be expecting from Ethereum this week, this year and beyond.

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because V-day is coming soon.

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In this video, we're going to be talking about what's next for Ethereum,

and at the end of this video, I'll be giving you guys some non-holiday-related price predictions for Ethereum.

I believe Ethereum will be the coin of this bull cycle,

and by the end of it, it will be considered to be a household name.

The FUD and the hate was real.

Narratives ranging from Ethereum is dead to miners were going to destroy it

to ETH 2.0 won't fix the gas problems

to basically anything you can think of to make Ethereum look weak.

And I respect the hustle of these other communities.

Going after other projects though isn't really my style

because I want us all to make money no matter what you're invested in.

Ethereum's time though has come.

Breaking a new all-time high of $2400 last night,

it's poised for the final ascent above the elusive $2500 level.

The price though isn't going up for no reason.

It's not a coincidence.

There are big things happening for Ethereum that are leading to this monumental move.

We've all been so focused on today's Coinbase IPO in regards to the price of Bitcoin

that we didn't stop to think how much this would also be affecting Ethereum.

ETH was Coinbase's No. 2 listing back in 2017.

The listing had a monstrous effect on the price of Ethereum and on Coinbase's bottom line.

I was shocked to find out that Ethereum accounted for an equal percentage of profits for Coinbase

as Bitcoin.

So the price of Ethereum has a direct effect on the Coinbase valuation

just like Bitcoin does.

More than we imagined though.

According to Forbes.com,

investors in Coinbase must be aware

that the firm's heavy reliance on Bitcoin and Ethereum create unique concentration risks.

In 2020, Bitcoin Ethereum accounted for 56% of Coinbase's trading volume

and equal percentage of transaction revenue.

Should demand for these two cryptocurrencies decline without an offsetting increase in new cryptocurrencies,

Coinbase could see significant cuts to its trading volume and transaction revenue.

And I'll tell you this,

it makes you wonder if this Coinbase IPO will completely change the game for crypto.

The Coinbase value will be determined by how much volume Ethereum and Bitcoin are trading at.

So they've got a huge incentive to keep demand for trading up.

Usually, that means a price increase.

So we'll have to see what happens.

The Coinbase IPO, as big as it is, for BTC and ETH, isn't the only gigantic thing occurring at the moment.

We also have the Berlin upgrade for Ethereum.

While everyone is focused on the London upgrade coming to ETH in July that will include EIP-1559,

the Berlin upgrade also carries with it some interesting additions to the network

that should help solve some of the Ethereum problems.

The upgrade is happening today,

so we could see some dramatic effects on the network

which could subsequently have an effect on price.

But that, of course, isn't promised.

So let's go and take a look at the Berlin upgrade

and what it's going to do.

First and foremost,

all the components of the upgrade will play a role to move Ethereum down the line in the ETH 2.0 roadmap.

ETH 2.0, of course, is the full upgrade of the network that would change ETH from proof-of-work to proof-of-stake,

giving those holding 32 Ethereum and up the opportunity to earn rewards

by running what are called validator nodes.

Some of the individual components of the upgrade includes several EIPs.

These are Ethereum improvement proposals.

Basically, proposals submitted to the developer community to vote on.

It's actually kind of similar to how the NFL rules are voted in.

Every year, there are some crazy proposals for rule changes.

Some get rejected immediately,

some get a table for another year,

and some get implemented.

Often, the rule changes that get implemented got proposed several times before acceptance.

It's kind of like EIPs for the Ethereum network,

except instead of teams submitting the proposals,

it's nerds!

But the Berlin upgrade includes:

EIP-2565

This proposal will reduce the cost of the ModExp precompile.

No idea what that is.

But it will assist the network to calculate gas prices more efficiently.

EIP-2929

This proposal will increase certain gas costs--

crazy, right?

--when it is the first time it's used in a transaction.

Back to that in a second.

EIP-2718

This proposal will introduce a new transaction module that will be able to support multiple transactions.

EIP-2930

This proposal is actually a counterbalance to EIP-2929.

You may have been confused since EIP-2929 increases some gas prices,

but overall, the Berlin upgrade should lower gas fees.

EIP-2930 seeks to control the transaction types with optional access lists.

I know from a novice's perspective,

none of the wording of those EIPs may make sense to you.

That's okay. To be honest, I don't even understand it all.

These are the last hanging branches keeping me from falling all the way down the nerd tree.

But here's what we know.

The combination of these EIPs along with a few other small changes will assist in lowering gas fees.

And this is hugely important.

I told you guys many times before,

in my opinion, I don't think the institutional investors care a lick about gas fees,

and they're driving the price,

but the narrative has been the gas fees are crushing ETH.

It certainly slowed down the network and made it harder for smaller traders.

It's definitely a problem.

But I just don't believe it has affected the price that much.

The narrative has been strong enough though and has given a boost to ETH competitors for sure.

And listen,

if ETH 2.0 can't solve gas fees or scalability, Ethereum is in trouble long term.

But I have faith though that they will solve those problems.

In the short term, lower gas fees can help the network and small traders,

along with killing this entire narrative.

Now, you have to understand, the markets are purely psychological.

So if everyone is telling people that gas fees are choking the ETH price,

retail investors get scared away, and that keeps the price from going up more.

Once that ammunition is taken away and we see clear progress toward lowering gas prices,

the moon is only one call away.

So, where does the Ethereum and go from here?

Well, if you look back at the 2017 bull run, over the summer,

Ethereum went through a several month-long bout of sideways action

before finally breaking out in November.

It seems to me like this is just what we experienced---

a period of sideways action still marked by high volatility in the short term,

but over a period of months, it basically stood still.

But what happened when it did break out?

Well, a mere 368% gain over the next three months.

Now, if we were to see something similar to that for Ethereum,

we could be looking at a $12,000 Ethereum by the end of the summer,

which would put us about exactly where we need to be

to hit our supposedly crazy year-end price prediction for Ethereum of $27,000

landing somewhere between Halloween and Thanksgiving.

And if you're new to crypto, this sounds insane.

But if you were here in 2017,

you know that everything we predicted for four years has come true.

And it feels very surreal honestly.

There are tons of things out there that could happen between now and Thanksgiving though

that could derail Ethereum, Bitcoin and the entire crypto bull run.

There are unknowns we can't account for and then there are known unknowns.

Like, could the stock market crash? Or the economy tank?

But one thing is for sure.

So far, this year, we were right on track.

We missed a few dates of course, but generally, this bull run has gone exactly according to plan.

And I see no reason right now to believe it won't continue.

But this is crypto,

where you've got to expect the unexpected.

Let me know what your Ethereum price predictions are.

Drop those down below in the comments.

That's all I got.

Be blessed.

BitBoy out.