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My Ethereum Price Prediction for 2021 (Money Making Crypto Flipping Bitcoin) - YouTube
Channel: BitBoy Crypto
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it's all eyes on bitcoin right now after
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a super bullish couple of weeks yep
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rocktober is more than living up to the
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hype talking etf mania the highest
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weekly closing market history
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and actually by the time this recording
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we just smashed through resistance
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making an all-time high for bitcoin
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there's no denying that bitcoin is king
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right now dominance is climbing the
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stairway to heaven while the alts are
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biting the dust on the highway to hell
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but don't worry you gotta remember the
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market cycles we're in phase one right
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now meaning if bitcoin is king then
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ethereum is queen biding her time before
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a face melting solo in phase two
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the beginning of a kind of call and
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response with the rest of the large cap
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alts it's only october and mercury is in
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retrograde so while your altcoin
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portfolios might be looking a bit static
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right now you might be feeling under
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pressure to go all in on bitcoin but
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you've got to be patient hold on and
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buckle up this party's only getting
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started let's get it
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welcome to bitboy crypto the largest and
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greatest crypto community and all the
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interwebs my name is ben everyday on
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this channel i show you how to make
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money in crypto if you like money and
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crypto be sure to hit that subscribe
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button in this video we break down the
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latest on the ethereum blockchain and i
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update my 2021 price prediction for
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ethereum
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ethereum is evaporating into the ether
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right now and i'm not just referring to
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the two billion dollars worth that's
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been scorched since the ip1559 no i'm
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talking about a massive drop in ethereum
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exchange reserves that can only mean one
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thing an incoming supply shock why
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because people aren't selling in fact
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they're taking their precious ether off
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the exchanges and saving it for a rainy
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day
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that's in spite of the fact that over 97
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of all ethereum holders are in profit
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right now
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meanwhile the whales are hungry check
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out this data from coinbase showing a
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huge spike in outflows last week to the
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tune of 400 000 eth or 1.5 billion
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dollars that's not just a whale that's a
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monstro
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levels of institutional activity we're
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seeing right now are huge
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unchained data shows serious amounts of
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ease being moved around most likely
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being split up into multiple wallets
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so when the big boys are scooping up
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billions of dollars worth of ease and
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putting it in cold storage
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while almost every single token holder
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is clearly in the green well you don't
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have to be a genius economist figure out
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what happens next speaking of great
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minds someone who's selling their
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ethereum right now is
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tv host and leading candidate as a
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potential lizard person jim cramer he
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recently announced that he'd be selling
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off a portion of his eth as the upcoming
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launch of a bitcoin futures etf in the
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us
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could mark a near-term top for crypto
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markets look i'm all in for taking
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profits but then this is the guy who
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sold almost all of his bitcoin in june
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june when we were telling you to hodl
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and who begged his viewers to sell their
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crypto in light of the evergreen fudge
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just a month ago
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i mean he's got such paper hands i'm
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amazed he can even button his shirt
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however he's not the only crypto pundit
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weighing in on ether this week as dallas
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mavericks under mark cuban said he
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believed that out of all the crypto
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assets it was ethereum that clearly had
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the most upside potential i agree with
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him that's because as he put it vitalik
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will figure it out
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i mean it's hard not to agree with cuban
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on this one after all the human super
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computer elian and ethereum founder
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recently made time magazine's 100 most
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influential people of the year for his
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innovation
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to the rap genre proof of stake is hard
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but what i do know is when we learn a
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shard we'll
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but let's get serious for a second it's
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hard if not impossible not to be bullish
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as ever on ethereum given that 2.0 yo
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could be coming sooner than expected
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according to tim vico the code might be
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complete by february next year with a
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merged proof of stake on the beacon
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chain likely to follow four months later
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which is why the nerds at ethereum have
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voted to delay the difficulty bomb until
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june 2022 a proposal that will
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effectively make mining unviable at that
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time
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this all comes only a week or so before
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the altair upgrade is due to take effect
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later this month the first mainnet
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upgrade to the beacon chain which
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according to a recent official blog post
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offers a kind of warm-up in advance to
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the merge
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so what's that upgrade going to mean
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from a user perspective well as outlined
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in a recent article from coindesk not
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only will e 2.0 make ethereum way more
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energy efficient it will also mark your
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transition away from economies of scale
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what does that mean
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well it'll allow users with smaller
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investments to become validators on the
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network which in turn should reduce
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centralization and improve security as
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they become more widespread
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and while the mood proof of stake won't
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necessarily have an immediate impact on
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gas fees or speed
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it will lay the groundwork for sharding
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which will ultimately see the network
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load shared across 64 separate chains
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massively increasing throughput and
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speed
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speeds that could reach as high as 100
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000 transactions per second
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in short the merge is going to be scary
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stuff for the so-called eath killers
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yep it's hard to believe that this guy
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created a coin that's going to at least
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eight thousand dollars this cycle at the
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time of this recording
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just crossed over 4k
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there's no doubt about it in spite of
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the many delays confidence in 2.0
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remains high as ever with a deposit
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contract now showing approximately 28
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billion dollars in east being staked
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and zooming out into the wider device
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space
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ethereum is capturing a huge 69 percent
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of total value lock across all different
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chains
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totaling no less than 130 billion
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dollars this is all super bullish you
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can be sure that as soon as we interface
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two of the market cycle
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money starts pouring into ethereum well
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it's gonna break break free in a serious
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way
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and yes it's still totally possible
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we'll see the market cap flipping at
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some point this cycle
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a possible catalyst could be rumors of
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an upcoming ethereum etf i know i know
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it's literally been a few days since a
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bitcoin futures etf was approved
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but already people are getting excited
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about the prospect of the sec allowing
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an
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eth tf
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after all they've already said ethereum
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is in a security and while i'm not sure
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it'll happen that quickly it's clearly
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the next in line
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so much so that the applications with
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the sec are currently pending including
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one from krypton and gemini trust
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company who've offered to serve as
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custodians and hold the trust ethereum
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yup this isn't even futures etfs we're
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talking about it's a spot etf which
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means that given dirty gary ginsler is
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in charge of the show wouldn't it all be
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surprised to see it rejected the current
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time but here's something to think about
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forget outcomes the hype alone around a
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possible ethereum etf could easily send
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ethan to the stratosphere in the coming
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months
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talking north of 10 000 possibly it's
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high 12 14 15 000
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and what if an eventual rejection from
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the sec is the killer blow that sends it
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crashing back down
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clear-cut case to buy the rumor and sell
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the news which is exactly what happened
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to bitcoin back in 2018.
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who knows but i can totally see it
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happening definitely something we'll be
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keeping an eye on in the next couple of
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months
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in the meantime i'll just say this
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don't be like jim craig and definitely
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do not sell your ethereum when it's
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still off its all-time high when this
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thing pops
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it's going to be like getting full-sized
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candy bars on halloween that's all i got
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be blessed
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[Music]
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you
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