As all are speculating the merge for ETH, are we gonna see ATH for ETH in the crypto market? Thoughts?
I don't know if it's right to say this, but I've seen some popular accounts on Twitter talk about the $20,000 target in the long run. Ethereum has revolutionized the cryptocurrency industry with its smart contract feature. If you ask me, it definitely deserves to be $20,000, but I don't find it right to talk about such prices. We need to talk more realistic prices.
Possible, but not so realistic currently. That is like a prediction for Bitcoin to reach 6 digit figure (though Bitcoin is much closer to it). There will be a right time for that to happen. Though we can't blame these people for being to optimistic as we all consistently witnessed how ETH has improved their project every year, but there are also these people who's just hyping things up for their own personal gain, especially in Twitter.
I believe that when we turn into PoS then we could see 20k. Because, by that time we would probably be in a bull run which would mean that the price would go up and that alone is a good enough reason that we could see 10k probably. Secondly when we turn, miners who mine ethereum will end up not mining it, it will be rewarded for "holding" it and that means people will want to buy as much as possible and hold it instead of sell it.
This should increase the price to 20k or at least increase it to a high level even if it fails to do it for 20k. That’s the important topic here and that’s why I believe that being bullish on ETH is not a wrong move to do right about now.
It's unlikely that Ethereum will reach the price you say this year or next year, it can reach the price you say only when bitcoin reaches 6 figures or more. It will take many years for ETH to really mature, and the significant supply burn will help Ethereum reach the price of 10k or 20k as you say.