The crypto market has been looking great lately, and despite massive volatility, there are all kinds of bullish predictions popping up in the crypto space.
Ethereum is one of the stars of the crypto market and the optimistic predictions are surrounding this coin as well.
5 reasons to be bullish on ETH
It’s been just reported that the pseudonymous host of Coin Bureau is listing five big reasons to be bullish on ETH. He also addressed whether Ethereum could eventually become as big as tech giant Microsoft.
In a new video, he addressed Ethereum’s recent EIP-1559 upgrade, which puts pressure on the supply of ETH by burning a portion of the gas fees rather than giving them to miners, as one important bullish catalyst.
He also addressed the upcoming Ethereum 2.0 upgrade, bullish on-chain signals, Wall Street adoption, and the highly optimistic options prices as reasons to be an ETH bull.
“It’s hard to take [a] look at all these fundamental factors and not be incredibly optimistic about [Ethereum’s] future,” he explained.
“The London hard fork has shown just how smoothly the Ethereum community can execute fundamental protocol upgrades. It was a great demonstration of what we could expect to see when the 2.0 upgrades start being rolled out. With that proof-of-stake merge, we’re going to see ETH become ultrasound money, money that will have a deflating supply year on year, day by day, block by block,” he said.
He continued and pointed out that “And it seems as if most of the crypto community agrees. ETH is being stacked, staked, and otherwise removed from the open market. It’s being held as a rare store of value that will be in much shorter supply one year from now. And of course, it’s not only us that are trying to Hoover up that ultrasound money. Institutions are chomping at the bit, or should I say ETH, as they continue to accumulate more of it. This is a theme that I don’t see slowing down anytime soon.”
He concluded by saying that the ETH bull is far from being over.