For his part, the Bitcoin continues the rally after the collapse and gives impetus to the rest of the market of the cryptocurrencies. During these hours he managed to recover a flat of $21,000.
The transition journey from Ethereum to PoS-based ETH 2.0 began on December 1, 2020, with the launch of the Beacon Chain, kicking off Phase 0 of the transition. The launch of phase 1 of the program was planned for mid-2021, but was delayed until the first quarter of 2022 due to unfinished work and the complexity of the code audit.
Ethereum’s transition to a PoS-based network is expected to reduce its power consumption by 99% and the introduction of sharding (planned for Q1 2023) would make the network highly scalable and up to par. centralized payment processors.
The debate between PoS and PoW goes back a long way, with PoS advocates claiming that it is more environmentally friendly and just as secure, while PoW advocates, including Jack Dorsey, have called PoS centralized and less secure.
Is the crypto winter over?
According to specialists consulted by the Bolsamanía site, most analysts believe that the price of Bitcoin will fall to US$13,000, to end the year close to US$25,000.
For analysts, it is still too early to know if this trend is a market recovery. Experts point to the lows of June, when bitcoin dipped below $18,000, as the level to watch for possible falls.
Glassnode analysts wrote that bear market “still requires an element of duration” as long-term holders (LTHs), who tend to have greater confidence in Bitcoin as a technology, increasingly bear the largest unrealized losses
They added that the market may need more “downside risk to fully test investors’ resolve, and allow the market to establish a resilient bottom.”
But the worst thing is the catastrophic forecast on Wall Street that predicts that the debacle will be deeper than it was until now.
Since Bitcoin peaked at $65,000 in the middle of last year, the highest-value cryptocurrency has been steadily falling below $20,000. There are not a few investors who expect additional falls of up to 50%, up to $10,000.
According to the MLIV Pulse survey, 60% of the 950 investors surveyed believe that $10,000 price could be coming for BTC. But the remaining 40% believe bitcoin will gain 50% from here to $30,000.
Jared Madfes, a partner at Tribe Capital, a venture capital firm, told ‘Bloomberg’: “It’s very easy to get scared right now, not just in crypto, but in the world in general.” Expectations of a further drop in bitcoin reflect “the inherent fear of people in the market.”
Source: Ambito
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