Guy, the pseudonymous host of the Coin Bureau, lists five important reasons to be optimistic at ETH and posits whether Ethereum could one day grow as big as technology giant Microsoft.
In a new video, the widely acclaimed analyst names Ethereum’s recent EIP-1559 upgrade, which is putting pressure on ETH’s supplies by burning some of the gas charges instead of passing them on to miners, as a major bullish catalyst.
He also cites the upcoming Ethereum 2.0 upgrade, bullish on-chain signals, the Wall Street launch and the very optimistic option prices as reasons to be an ETH bull.
“It’s hard to take [a] look at all of these fundamentals and don’t be incredibly optimistic [Ethereum’s] Future. The London hard fork demonstrated just how smoothly the Ethereum community can make basic protocol upgrades. It was a great demonstration of what to expect when the 2.0 upgrades start rolling out. With this proof-of-stake merger, we’ll see ETH turn into ultra-solid money, money that will have a deflationary supply year after year, day after day, block by block.
And it seems like most of the crypto community agrees with that. ETH is stacked, staked out and otherwise removed from the free market. It is held as a rare store of value that will be available in much shorter form in a year. And of course, it’s not just us trying to raise this ultra-solid money. Institutions are chewing on the bit, or should I say ETH, as they keep piling up more and more of it. This is an issue that I don’t see slowing down any time soon.
With all of these factors in mind, I can understand why options that expire next year have such high exercise prices. The market dynamics are on our side and the ETH bull is not running out of breath. ”
Guy asks his 1.24 million subscribers if it’s really hard to believe that Ethereum could have a market cap as large as Microsoft.
“If ETH were at $ 17,000, it would have a market capitalization that corresponds to that of Microsoft. Is it inconceivable to know exactly what will one day drive Ethereum? ”
Don’t Miss A Beat – Subscribe to crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Surf the daily Hodl mix
Check the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and you are responsible for any losses. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock / Ana Aguirre Perez