Ethereum has been riding on Bitcoin‘s shoulders for far too long. And that has been the story for most other Altcoins as well. However, that might soon change for ETH.
Ethereum 2.0 would be faster and promises to offer a seamless experience. It might just be the missing potion that would help ETHUSD rally.
What is Ethereum 2.0, and when is it coming?
Ethereum 2.0 or ETH 2.0, is also known as Serenity or Sharding. Ethereum is planning to transfer its entire stake onto a new economic model. It is like the Renaissance of the cryptocurrency.
This transition of ETH will be risky and complicated. However, enthusiasts claim the change to be worth the while.
Serenity is expected to come by July 2020. It aims to upgrade the Ethereum platform (a Blockchain Platform) to make it better and faster. Analysts claim that ETHUSD will undoubtedly rally before the transition takes place.
Reasons as to why ETHUSD will rise in the near term
- The growing institutional interest in Bitcoin is not a secret. Institutions, more often than not, prefer diversification. Therefore, they would most likely make bets on Ethereum as well.
- Bitcoin’s halving has also played a significant role in pushing ETHUSD higher. It did so the last time as well, four years back during the previous BTC halving.
- ETH 2.0 will be a fundamental change in the way Ethereum systems operate. This transition might prove to be disruptive yet revolutionary.
Source: TradingView.com
If we take a look at the ETHUSD daily chart, we can see that Ethereum is consolidating around the $200 range. The fundamental changes could most certainly push ETH much higher. However, investors must wait for ETHUSD to fall to a suitable price point before investing.
