Mike McGlone is a senior commodities analyst at Bloomberg intelligence. Recently, the strategist produced an analysis of the Ethereum network. He explained how the second largest blockchain by market capitalization has revolutionized financial technology. He also made predictions about future Ether prices.
Ethereum will have everything for the pool phase chain!
During a recent interview with Bloomberg Intelligence Strategist Mike McGlone praised From the Ethereum blockchain. He said that the network is doing very well and that the demand as well as the price of ETH could increase.
Mike McGlone too Certain As the leading smart contract network, Ethereum will revolutionize financial technology. In this context, he predicted several hikes for ether (ETH). Added that the blockchain is almost Become a collateral for the Internet Significantly reduce its energy consumption.
Then a Bloomberg intelligence strategist explained:The main thing about Ethereum is that it makes it possible to trade the most traded cryptocurrencies on the planet which are tokenized versions of the dollar. In fact, the dollar is the most traded cryptocurrency. It is traded more than ether and bitcoin combined. This is because ETH tokens make this possible.“.
Can Ether (ETH) Overtake Bitcoin (BTC)?
Mike McGlone thinks so Ether’s value in the end a plus compared to BTCWith supply shrinking and demand increasing. “The trend of Ethereum outperforming Bitcoin remains the same. So ETH has been hovering around a nice support at $1000 and a good resistance around $2000, but what it has done this year has been somewhat groundbreaking.explains the strategist.
McGlone recalls that the blockchain has moved to proof of stake (PoS). He specifies that this allows him to consume practically no energy while facing an energy crisis. He concludes by saying:Obviously, supply is declining […]and demand and dependence are clearly trending, so my view is that unless something changes in those directions, the price should go up over time“.
According to Bloomberg Intelligence Strategist Mike McGlone, ether (ETH) is expected to rally and continue to outperform bitcoin (BTC). McGlone added that ETH “Migrate to the main stream with maturity“.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.