Ethereum has just undergone its latest update, which has brought it to new all-time highs for the value. Last Friday marked a new high above a significant $ 4,458 per ether. And there it is with all the possibilities to break records immediately. At the moment the experts of the crypto market are looking at Altair, the first Ethereum Beacon Chain update, since it was launched almost a year ago, in December 2020.
We are talking about a very significant update that occurs in the process of changing Ethereum and we explain the reasons. Right now Ethereum 2.0 operates with a model called PoW In its acronym in English, that is, a proof-of-work model where miners must solve certain complex challenges to validate transactions and verify them, something similar, but much more difficult of course, to the captchas that websites ask us to do.
But in the next exercise Ethereum hopes to change its dynamics towards, also in English, the PoS, that is, a proof of stake model, the place where the asset has always wanted to be, getting it to grow through updates, although we are talking about a great challenge, a type of consensus mechanism that blockchain networks use to achieve consensus. And in this case, users can only validate transactions according to the amount of ether cryptos they have.
And that step from one system to another, whatit will be long in time, go one step further with this update because next year Ethereum will progressively merge with the Beacon Chain to get to the PoS model, which, by the way, reduces your environmental impact by no less than 99%.
In its stock chart we see how highs are pulverized, increasing, which we will see shortly break due to its trend. The asset rises 4.17% in five sessions, 26.7 in the month, 78.5% is its revaluation in the last 3 months and a round 500% so far in 2021, to exceed 1,000%, up to 1,058.38% since November of last year
But the thing does not seem that it is going to stay there, because Goldman Sachs’ projections are spectacular. $ 8,000 this year alone. Its managing director of global markets, Bernhard Rzymelka highlights that cryptocurrencies have been traded in line with inflation limits since 2019. And he considers that the pressure on its all-time highs that occurs now may be a sign of exhaustion, a spike or a starting point of an accelerated rally after its bullish breakout, and opts for the latter. So if the historical future correlation with inflation persists, the price of Ethereum could hit $ 8,000 in the next two months.
The premium indicators prepared by Investment Strategies place Ethereum, in bullish mode and with an improvement of two points, with a total score of 8.5 points out of 10 possible for the asset. Among the negatives, the business volume in the medium term stands out, which is decreasing and the volatility of the value in the medium term, which is increasing for the asset.
Meanwhile, on the positive side we find the medium and long-term trend that is bullish for Ethereum, the total moment, both slow and fast, which is positive, the long-term business volume, which shows increasing, while the volatility of the asset, measured in terms of its range of amplitude, is decreasing in the long term.
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Disclaimer: This article is generated from the feed and not edited by our team.
