Here’s a prediction – ETH will be $99 in next 7 days
Here are 5 Crisp reasons that ETH will soon be worth nothing:
1. From $20 to $1100 and back to $20 – ICO Dumping
ETH was mere $20 until last year. A growth of 1 year to $1100 was sure to get breakdown at one point of time, and now is that time. Not all ICOs are officially out of ETH. There is huge Dumping still remaining.
The only reason for Ether’s growth last year was ICO funding and when these ICOs want to liquidate their funds into real money, ETH had to come down, without a doubt.
2. Ethereum GAS is worthless – ETH can be replaced by any ERC20 Token
The GAS used in the ether network DOES NOT necessarily have to be in ETH, it can be in any ERC20 token if the miner agrees to accept it. This makes ETH worthless and having no real value at all.
3. ETH is “extra” work for dApp developers
For all ethereum developers, ETH is extra work, since all applications are based on ERC20 tokens and ETH is not a token itself, building an app “just” for ERC20 tokens is much easier to code, making ETH useless.
4. ETH mining is now 0% profitable
Mining ETH has become next to non-profitable for miners. Mining equipment, software and the setup takes far more cost than the value of ETH.
5. Ethereum is no more “The Best” decentralized software
With new market innovation, projects like EOS are far more better than Ethereum, making ETH valueless.
The above was the opinion of the writer and you are required to do your own market study before investing in an cryptocurrency.