The market after a sudden charge during the weekend has pulled back, seeing a good number of cryptocurrencies record marginal drops. Though the last 48 hours have seen cryptocurrencies turn red, most coins seem to have strong support and have remained above key support positions. This is key for the next rally since a high support position allows prices to aim high and establish high resistance positions.
Ethereum in the last couple of hours has seen a significant drop of around 1% extending into yesterday’s drop. This at the time of press has seen the coin drop to trade for a little over $139. The stability being witnessed from around the market suggests that prices will soon pull away rather than go through a further pullback. ETH could soon get above $140 and continue its rally towards $150.
While the bearish trend continues, pundits continue to make bold predictions both in the short term and long term. Joseph Lubin, co-founder of Ethereum has been making a bold and positive prediction over the future of Ethereum. Joseph Lubin, who has been a believer in the revolutionary capability of cryptocurrencies, with his prediction, further reiterates his belief in cryptocurrencies becoming the preferred means of payment.
Ethereum Will Expand By 1,000 Times In The Next Two Years
Joseph Lubin, who was speaking at South by Southwest (SXSW), made one of the boldest predictions over the future of Ethereum. According to Lubin, Ethereum will grow by a thousand times. In his statement, Lubin reflected on where Ethereum began and stated that there plans to make it even bigger.
“Ethereum 2.0 is coming…We have 8 teams building it and we are currently in Phase 0 of the four phases of the roadmap. We continue to build the base layer of the Layer 2 expansion solution, which will be in the next 18- At least 1000 times in 24 months. After that, Ethereum will continue to expand.”
With the battle to become “king” of dapps continuing to intensify, Ethereum is in need of radical growth if it is to retain its authority. If Lubin’s prediction is correct and Ethereum grows by a thousand times, this could see it undoubtedly become the number one dapp platform. This will further see ETH prices soar throughout the development of the project and possibly set new all-time highs.