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The CEO of digital currency investment firm BKCM is complicit in the outlook for Ethereum (ethereum) just weeks before the project began a major network upgrade.
In a new episode of Fast Money, CNBC contributor Brian Kelly first Mention Ethereum investors may not get as much income from lucrative trades as expected due to Ethereum’s inflationary mechanism.
“I think it’s probably ‘selling the news,’ but in cryptocurrency you generally want to buy news, so that might not be intuitive. But everyone is buying Ethereum. Because they embarked on this merger and now they’re trying to get what they call a yield.
As you know, it’s not really yield. It’s kind of like offsetting currency inflation because it’s just the inflation rewards coming back. “
Kelly Expects Investor Excitement Ahead of ETH Mid-September switch Moving from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanisms will inevitably lead to a sale, but it could also be a disruption or a complete failure that negatively impacts the price of Ethereum. I warn you. as well as the project itself.
Events that sell news will likely go into mergers.
Also, technical glitches may occur.but also [that]but there are many questions about what will happen to the app if Ethereum splits again.
Instead of one chain fork, you can have two or three different Ethereums. So what does your DApp (Decentralized Application) do and play?
I think the Ethereum merger carries more risks than people give credit for. “
Looking more broadly at the economy, analysts discuss correlations between cryptocurrencies and the tech stock sector, highlighting fundamental differences between Bitcoin (Bitcoin) and Ethereum.
Bitcoin’s correlation with the Nasdaq is around 60%. Ethereum’s correlation with the Nasdaq is around 70%, rolling over the last 30 days. It works like a Q ETF. [exchange traded fund].
I think there is a nuance here in that Bitcoin itself is not a technology stock. It is definitely an alternative currency. It’s digital gold. You need it when your country destroys its currency, as many governments do today.
Ethereum, on the other hand, can be considered a tech stock because it disrupts much of what technology stocks do today.
As long as daily active users stay away from places like Twitter, Facebook and Google, I think Ethereum being a tech stock has something to say. “
At the time of writing, ETH is trading at $1,578 and BTC at $19,983.
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