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A short thread on why I think $ETH is long-term bullish.
Reason 1: Daily Market Structure. Notes in the chart.
Likes, RTs, comments and feedback are appreciated!
Reason 1: Daily Market Structure. Notes in the chart.
Likes, RTs, comments and feedback are appreciated!
Reason 2: The Weekly Retest.
Speaks for itself, really. Notes in the chart.
Speaks for itself, really. Notes in the chart.
Reason 3: Total Value Locked in Defi
Even though the DeFi hype has slowed down, more $ETH is being locked into DeFi. This is bullish for DeFi as a whole, but especially for ETH as the DeFi space runs on ETH.
Supply goes down, demand goes up. You do the math.
Even though the DeFi hype has slowed down, more $ETH is being locked into DeFi. This is bullish for DeFi as a whole, but especially for ETH as the DeFi space runs on ETH.
Supply goes down, demand goes up. You do the math.
Reason 4: Institutions are buying.
Let's look at @Greyscale for example. They hold close to $1B in Ethereum and are adding more. Big players like them know what they're doing. I'm not going to countertrade institutional money.
Let's look at @Greyscale for example. They hold close to $1B in Ethereum and are adding more. Big players like them know what they're doing. I'm not going to countertrade institutional money.
Reason 5: Ethereum 2.0
$ETH 2.0 is coming, with phase 0 launching this year. It will allow staking but on a one-way basis. Withdrawing your ETH won't be possible until phase 1.5 (2021) when the $ETH mainnet becomes a shard. https://ethereum.org/en/eth2/#roadmap
$ETH 2.0 is coming, with phase 0 launching this year. It will allow staking but on a one-way basis. Withdrawing your ETH won't be possible until phase 1.5 (2021) when the $ETH mainnet becomes a shard. https://ethereum.org/en/eth2/#roadmap
I'm not sure how many people will actually stake considering they'll have to wait until phase 1.5 to get their ETH back, but any ETH being locked into the contract will decrease supply.
Once again, decreased supply while demand increases means a higher price.
Once again, decreased supply while demand increases means a higher price.
Reason 6: Transaction Volume
Transaction volume recently hit an all-time high. This underlines that demand for $ETH is there, even with the network being congested.
ETH 2.0 will alleviate congestion and probably drive demand through the roof.
Transaction volume recently hit an all-time high. This underlines that demand for $ETH is there, even with the network being congested.
ETH 2.0 will alleviate congestion and probably drive demand through the roof.
Summary & Disclaimer:
Both the chart and fundamentals point in the same direction, upwards.
This does not mean the price will simply go to the moon from here. I am not telling you to FOMO into Ethereum while we're at resistance.
Both the chart and fundamentals point in the same direction, upwards.
This does not mean the price will simply go to the moon from here. I am not telling you to FOMO into Ethereum while we're at resistance.
In the coming months, there will be a big dip. A scary one, perhaps the one I pointed out in the weekly chart (Reason 2).
Those dips are where you want to buy. Have patience. This is a long-term outlook and a long-term game. You'll get there if you play your cards right.
Those dips are where you want to buy. Have patience. This is a long-term outlook and a long-term game. You'll get there if you play your cards right.
Thanks for reading, I enjoyed doing the research and building the charts. Let me know your thoughts, and be sure to leave a like / RT on the top tweet if you like these type of things.
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