Cryptocurrencies were developed prominently to eradicate the problem of double spending, in which a particular virtual currency would be spent two times at different places. Many other virtual currencies existed before the existence of Bitcoin also but didn’t gain much popularity due to their inefficient technological implications. with the Inception of Bitcoin in the year 2009, many other cryptocurrencies followed the trend, and as a result of which, currently there is 1500 variety of them available in the market. The decentralization of cryptocurrencies is the backbone of the technology which provides with amazing security and none other forms of currency could be compared with.
It seems that the Ethereum market prices have been plummeting in the past few months and many of the cryptocurrency professionals are recommending to sell ethereum the users can buy Ethereum after some time maybe when the prices are even low. A number of specific reasons have been outlined, as to why the native cryptocurrency of the ethereum blockchain is absolutely not important, also the how the gas price is affecting the ethereum prices. Also, the Ethereum network is highly susceptible to fork as well as copy, as the developers can effectively create another cryptocurrency which is competitive with that of Ethereum.
Due to its high competitiveness and susceptibility of getting copied very easily the high prices of the ethereum token is highly unsustainable in the current market conditions. The Ethereum network recently made a great move and its history as the whole community members along with the architectural blockchain decided to implement the Proof of Stake algorithm and drop the Proof of Work algorithms, as it was proven to be highly inefficient. But even the Proof of Stake consensus algorithm doesn’t seem to be that reliable in the case of the Ethereum blockchain, as it would indirectly cost the investors, in order to be successfully implemented. Therefore it is highly advised to sell Ethereum at the current point in time.
There are a number of reasons which provoke the users to sell ethereum. It is very well known that the Ethereum network is not scalable enough, to accommodate all of its smart contracts and decentralized applications run on the ERC 20 protocol. The ethereum blockchain even lacks a number of prominent use cases, therefore, we must consider to sell ethereum. Amidst its rising competitors in the market, even the Proof of Stake consensus mechanism is consistently being criticized by the experts in the field, which marks the downfall of ethereum and it is one of the greatest reason to sell ethereum. Therefore, one must consider such allegations in a serious manner on the world’s second most popular cryptocurrency.
According to statistics, it has been estimated that the Ethereum blockchain doesn’t prove to be an effective asset class. Therefore, one might sell Ethereum at the current point of time and may buy them back, after sometime when the prices fall further. The experts even believe that the Ethereum blockchain is still immature and cannot handle its popularity and widespread adoption. These were a number of reasons that outline the inefficiencies of the ethereum blockchain and the vigilance of the investors as well as day traders towards the Ethereum blockchain.
Many of the prominent figures in the cryptocurrency industry, like Nick Szabo who is alleged to be the former Bitcoin creator, Satoshi Nakamoto but he has constantly been denying all such allegations on him. According to him, the noble Ethereum network is highly inefficient in nature and is headed towards a great disaster or a bureaucracy.
We can never understand or predict the future of the cryptocurrency market but with certain calculated predictions and by utilizing the wisdom of crowd as well as the experts, some amount of prediction can resonate with the future market conditions of the ethereum network. According to the current market situations and all the calculations, it leads to only one conclusion that the investors may sell ethereum and buy them, maybe after a few months when the prices are even low up to $30. the ethereum coin is listed on various cryptocurrency exchanges has Binance, Coinbase, Bitfinex, Kraken, KuCoin, etc which can be utilized to sell Ethereum.
Note: None of the above is a financial advise and we do not encourage that you take any decision based on the article. The article is only the opinion of the writer and you must do your research before buying or selling any digital asset including ETH.