- Analysts say ETH is bullish for the short term only.
- This reasoning is based on various facts pertaining to the delay of Ethereum 2.0.
- Amid the rising gas fees on the Ethereum network, users may migrate to other blockchains.
Tensions are high as Ethereum 2.0 is delayed. Investors and Ether (ETH) hodlers alike are restlessly waiting for its launch and the inevitable price surge it will most likely bring. However, due to varying reasons, we may not see the crypto hitting $5,000 anytime soon.
At the moment, ETH is showing bullish signs. Most analysts believe this is just for a short time. Many factors could soon contribute to the price staying at its current position for a while. Ever since Ethereums’s launch, its founder — Vitalik Buterin, has been teasing an eventual update.
Specifically, this update will bring Proof-of-Stake (PoS) consensus to the blockchain. According to Buterin, this update was thought to take a year’s time to accompl...