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Soon people who are complaining and selling at this correction, accumulation time will buy Ethereum when it breaks $5,000 or $10,000. They will repeat what the crowd did with Bitcoin in 2017. No one thought Bitcoin would rise to almost $20,000 in 2017.
Ethereum, this year might get a price at 5 digits, $10,000.
Those are pretty wild predictions. The last rally for Ethereum was based on the final specs for launch of ETH 2.0. I think people rushed for the 32 ETH requirement and that created this current price floor. Apart from that, there wasn't anything fundamentally new about Ethereum.
So expecting almost a 5X solely because of launching PoS is too optimistic. PoS has a different set of issues and hasn't really been done on this scale except in a fully centralized manner (as in case of Binance Chain).
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In any case thanks to this London fork I am sure that the gas fee will get a lot cheaper and thanks to that we are going to see the difficulty not be a huge problem when the bomb actually goes off. What are we scared of?
What the hell is this bomb everyone keeps talking about? I am not well versed with Ethereum and the community. So all of this is a bit new.