{"id":381215,"date":"2019-05-07T19:00:31","date_gmt":"2019-05-07T19:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=381215"},"modified":"2024-06-11T21:14:30","modified_gmt":"2024-06-11T21:14:30","slug":"price-action-favor-ethereum-eth-bulls-joseph-lubin-not-happy","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/price-action-favor-ethereum-eth-bulls-joseph-lubin-not-happy\/","title":{"rendered":"Price Action Favor Ethereum (ETH) Bulls, Joseph Lubin Not Happy"},"content":{"rendered":"
In a public chain, development is slow, and that is what is bogging down Ethereum. However, the idea of improving everything disappoints Joseph Lubin, the founder of ConsenSys. Joseph is upbeat and an Ethereum (ETH) bull maintaining that prices will increase 1000 folds in three years.<\/em><\/p>\n There is optimism around Ethereum. Not only is this innovative platform decentralized, with a team of developers willing to take it to the next level, but it is the network\u2019s value proposition and their approach towards coin emission and inflation control that is interesting.<\/p>\n Over time, Ethereum will shift from a proof-of-work to a proof-of-stake consensus algorithm. Then, the network would, if there is proper implementation, be scalable and secure. That alone is positive and with Vitalik Buterin affirmation, the path of least resistance in Ethereum (ETH) evolution towards an alternative store of value, is northwards.<\/p>\n Even so, Joseph Lubin, the founder of ConsenSys is not happy. Although Diar reports that Ethereum is firing from all cylinders, registering an uptick of volumes which took it to new highs, that there is a need for \u201cimproving virtually everything<\/em>\u201d is deflating. While talking to the Chain Reaction podcast\u2019s founder, Tom Shaughnessy, Lubin said<\/a>:<\/p>\n \u201cIt could be argued that [Ethereum is moving] too slowly as an ecosystem\u2026 Certainly, everything about Ethereum needs to improve, and there are lots of people that are working to improve virtually everything about Ethereum.\u201d<\/em><\/p><\/blockquote>\n Nonetheless, and despite his disappointment, the entry of big players as Samsung, Amazon, and others would demand a flawless network that is scalable, outperforming competitors.<\/p>\n <\/p>\n At spot rates, Ethereum (ETH) is up 12 percent from last week\u2019s close. However, like in our iterations, we expect prices to edge higher in coming days partly because of Bitcoin\u2019s resurgence\u2014they have a positive correlation\u2014and mostly because of fundamental factors.<\/p>\nEthereum Price Analysis<\/h2>\n
Fundamentals<\/h3>\n
Candlestick Arrangement<\/h3>\n