Altseason 2022 is already here! Ethereum, Dogecoin and other altcoins are rising to new highs.
After the release of the Berlin hard fork (update), Ethereum transaction fees dropped to 2022 lows, unloading the entire network. After all, as we know, all NFT and DeFi tokens are mostly created on the basis of the Ethereum network, and an increase in projects created on Ethereum increases the number of transactions, and accordingly the commission for it.
All these are problems of the so-called network scalability, which will be completely resolved with the advent of Ethereum 2.0 and the transition from POW to POS, but even the reduction in fees caused by the Berlin update had a significant impact on the price of Ethereum. And the upcoming Lonodon Ethereum hard fork with the EIP1559 will reduce transaction fees by another 30% - 50%, poor miners, and increase the Ethereum rate to $5,000 - $7,000 and even $10,000 in 2021.
Ethereum rate 5000$ - Growth of the Ethereum (ETH) rate to 5000$ - 7000$ in 2022
The price of ETH, the flagship altcoin, has increased by more than 65% over the past 30 days and is currently trading at $3,700 per ETH.
Ethereum price forecast
All this results in the token's annual return exceeding 1,500%, as it traded in the $215 range last year. The surge in Ethereun prices caused its market capitalization to exceed $400 billion for the first time, making Vitalik Buterin (the creator of Ethereum) the youngest Ethereum billionaire.
What are your goals for Ethereum in the near future?
The next stop for ETH can be considered the mark of $4250 and $5000 for 1 ETH.
The ruling class gets the taste
After some time, they decide that some rules need to be changed in order to correct shortcomings and optimize. Another hard fork. This was not a surprise.
But at the same time, something previously unexpected happened.
One of the promises when the community was created was that the working class would receive five units of currency for every unit of work performed. That is 5 ethers per block. But the ruling class now decides that this is too much for such work. Therefore, the ruling class exchanges 5 ether for 4 ether per block. Consequently, compensation to the working class is reduced by 20%.
Some, especially in the working class, are unhappy. They are told that they can either accept the reduction or leave. However, the work is still lucrative, so many stay.
At the same time, the ultimatum “accept the pay cut or leave” was set not only by the ruling class. This change pleased the majority both in the rich class and among the subjects. Why? This change reduces the creation of new currency units that they themselves do not earn (since they do not do any work). Consequently, this gives them a larger piece of the overall money pie than it would have had without this change.
No one has seriously considered the moral issues of whether changing this rule violates the promise made when the community was created.
So the change was made
Ethereum (ETH) $5000 in May 2021 – Ethereum movement in an ascending channel
As we can see from the graph below, in the next 30-50 days the Ethereum rate will reach the coveted $5,000 per 1 Ethereum.
Ethereum Rising Channel
