Popular Crypto Analyst Explains Why He Is So Bullish on Ethereum ($ETH)


Recently, popular crypto analyst and influencer “Coin Bureau” talked about Ethereum (ETH) and how the ETH price could “skyrocket” even if the DeFi part of its ecosystem managed to replace just a small percentage of traditional finance.

In a video released on YouTube channel “Coin Bureau“, the show’s pseudonymous host told the channel’s over 1.13 million subscribers about Ethereum and why he was so excited by its potential to disrupt traditional finance.

As reported by the The Daily Hodl, he said: 

“Unsurprisingly, the banks have been performing pretty poorly over the past decade. From the US banks, to those of China, Japan and Europe, an abysmal performance from a once-towering industry. Just try to picture that: this is the sector that caused the 2008 financial crash. They have honed the craft of privatizing gains and socializing losses. However, despite this, they have still been unable to capture any value for their shareholders… So the question then becomes: what services are these banks providing and can they be replicated in DeFi?“

His closing thoughts were as follows:

“Ether has a unique investment case that’s not really met by many digital assets in the space. It is a utility token that’s been used to fuel a decentralized finance revolution, a DeFi future which will clearly expose the inefficiencies of traditional finance and, as shown, and if it can capture only 0.5% of TradFi’s market share, demand for ETH could skyrocket as people demand more of it to pay for fees on the network.

“This realization is the reason that institutional investors are lapping it up. This realization is the reason that Goldman has dived right into Ether options before offering them on Bitcoin. Now, of course, a lot of it does hinge on the upcoming updates. Pushing forward such fundamental upgrades won’t be an easy feat on a network worth over 300 billion dollars, but they are necessary.

“And if they are fully implemented, who knows how much this could impact the price of ETH. EIP-1559 will see millions of ETH burned every year, and ETH 2.0 could actually supercharge that number and not only will 2.0 further this ultrasound money narrative, but it will make using the Ethereum network a breeze, quick, cheap, and infinitely scalable.

“This is the reason why I’m so bullish on ETH and why I’m so excited about the next few months. It’s not hopium though. I know there will be challenges. I know there could be delays. And there’s always that tiny black swan risk that could see ETH go to zero tomorrow.“

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Image by Miloslav Hamřík from Pixabay



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