Some traders are predicting that Ethereum will see massive growth against Bitcoin and fiat currencies in the coming months.
There’s plenty of reason to believe that Ethereum’s various scaling initiatives will eventually reinvigorate interest in the platform.
As this reporter has previously written, Ethereum currently operates in a world full of alternatives. Many of the blockchains that have sprung up in the wake of Ethereum can process transactions faster, and ultimately cheaper, than the first major token platform. That notwithstanding, the vast majority of all decentralized applications are built on Ethereum.
Ethereum’s Network Effect Is Nothing To Mess With
This isn’t a mistake. It’s the “network effect” at work.
Nevertheless, in technology, tides can change.
This likely explains the fervent work being done by Ethereum developers to scale the blockchain so that it can handle the existing mass of decentralized applications – and more.
The future of Ethereum has to be a powerful “global computer” which can process millions of transactions per minute. This will be necessary because thousands more decentralized applications will be added to the network over time.
It’s worth noting that alternative blockchains such as Tron, EOS, NEO, or Aelf can all still function just fine in a world where Ethereum thrives. Each of them has a specific niche, along with specific goals, in mind, or they’re focusing on regions where Ethereum’s dominance may be less apparent.
Ethereum: The Real Silver to Bitcoin’s Gold?
Asian blockchain developers, for example, have a number of local alternatives to select from – all of which can get the job done equally well, and many for perhaps a lower cost.
In the grand scheme of things, transaction fees, speed, and capacity will all play a part in the decisions of companies and developers choosing a blockchain to develop on.
Nevertheless, one trader believes that Ethereum is about to make a serious comeback. Taking to Twitter to make his prediction, the trader said:
$ETH hopium
I posted this a few months ago but can't find the post anymore.
Playing out magically so far.
The ETH fractal – dump it into mega moon. pic.twitter.com/UZHZ5Xa8zY— DonAlt (@CryptoDonAlt) July 10, 2019
Many people seem to believe that the current trend of Ethereum versus Bitcoin means that a serious profit opportunity will be coming soon.
Following the charts, as the next trader notes, seems to point to some good chances in the wind.
$ETH / $BTC 4H
ethbtc short setup pic.twitter.com/2vH5M25M3W— Suprematic Wassie (ex_hermit) (@GothBtcSinner) September 10, 2019
Whatever way you look at it, Ethereum is much like Bitcoin in that it’s an asset which is likely to appreciate over time. For long-term investors, it’s an obvious must-have. Those looking to make money in the short run should likely consult a full scale investment community such as TradingView.
