Ethereum

Future

Swing

Renowned trader and investor Peter Brandt has recently <a href="https://x.com/PeterLBrandt/status/1735433545458520178?s=20" target="_blank" rel="noopener nofollow">voiced</a> a surprisingly pessimistic view of Ethereum’s future. Brandt, known for his trading acumen, has expressed doubts about Ethereum’s longevity as a major digital currency, especially when contrasted with Bitcoin (BTC). 
<h2 id="ethereum-s-uncertain-future-according-to-brandt">Ethereum’s Uncertain Future According To Brandt</h2> 
Brandt’s forecast for ETH, which he shared in a post on X, centers around his belief that ETH lacks the attributes of a <a href="https://bitcoinist.com/ethereum-whales-changing-tides-eth-losing-favor/" target="_blank" rel="noopener ">solid store of value</a>. Unlike Bitcoin, which has garnered widespread acceptance as a digital gold equivalent, ETH’s functionality and escalating gas fees cast shadows on its long-term viability. 
Brandt went as far as to describe Ethereum as a “piece of junk,” a bold statement considering Ethereum’s status as the second-largest cryptocurrency by market cap. 
Notably, Brandt’s skepticism particularly stems from ETH’s underlying technical challenges and high transaction costs, which have been a point of contention within the <a href="https://bitcoinist.com/ethereum-insider-sec-completely-rogue/" target="_blank" rel="noopener ">crypto community</a>. 
<blockquote class="twitter-tweet"> 
 Ether <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> is not comparable to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> as a store of value. Why hodl ETH when you can hodl BTC And the functionality and gas price of ETH make the crypto a piece of junk My prediction is that ETH may not even be a listed asset in 10 years <a href="https://t.co/4WQ7wnFWEO" rel="nofollow" target="_blank">https://t.co/4WQ7wnFWEO</a> 
 — Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1735433545458520178?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 14, 2023</a>
</blockquote> 
The trading guru argues that these factors significantly hinder Ethereum’s potential as a reliable investment vehicle, especially when compared to Bitcoin’s more stable and widely accepted financial narrative. 
<h2 id="mixed-perspective-ethereum-as-a-swing-trading-vehicle">Mixed Perspective: Ethereum As A Swing Trading Vehicle</h2> 
Brandt’s bleak outlook on Ethereum doesn’t stop at its long-term viability. Delving deeper into his analysis, he turned to the ETH/BTC chart for further insights. Brandt noted that if ETH/BTC manages to sustain above the $0.48 level, ETH’s ‘funeral’ might be postponed. 
<blockquote class="twitter-tweet"> 
 Hey ETH bulls, from a chart standpoint you need to hope <a href="https://twitter.com/search?q=%24ETHBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETHBTC</a> can hold above .048xx. If this level holds, then the funeral for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> will be delayed. <a href="https://t.co/u4keL5Elqv" rel="nofollow" target="_blank">pic.twitter.com/u4keL5Elqv</a> 
 — Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1735502588072870244?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 15, 2023</a>
</blockquote> 
This observation suggests a potential window for Ethereum to regain its footing or at least stabilize in the near term. 
Interestingly, despite his overall bearish stance, Brandt acknowledged a <a href="https://bitcoinist.com/celsius-and-ftx-deposit-ethereum-on-exchanges/" target="_blank" rel="noopener ">silver lining</a> for Ethereum. He concluded his analysis with a more optimistic note about its <a href="https://bitcoinist.com/ethereum-metaverse-game-immortalizes-biggie-smalls/" target="_blank" rel="noopener ">potential</a> as a trading instrument. “One final note and then time to move on to different topics,” Brandt <a href="https://x.com/PeterLBrandt/status/1735649659551658459?s=20" target="_blank" rel="noopener nofollow">expressed</a>: 
<blockquote>
 I view ETH as a legitimate SWING TRADING vehicle. It charts decently well and has adequate liquidity.
</blockquote> 
In stark contrast to Brandt’s gloomy prediction, several <a href="https://bitcoinist.com/ethereum-experts-predict-trillions-inflow-spot-etfs/" target="_blank" rel="noopener ">industry experts and analysts</a> hold a more optimistic outlook for ETH. Recent insights from JPMorgan analysts, for instance, predict a rosier future for ETH, predicting that the <a href="https://www.newsbtc.com/news/banking-on-ethereum-jpmorgan-says-ether-will-rise-above-bitcoin-in-2024/" target="_blank" rel="noopener nofollow">altcoin will surpass Bitcoin</a> in 2024. 
The prediction comes in light of the anticipated EIP-4844 upgrade. Known as Protodanksharding, this upgrade, scheduled for the first half of 2024, is expected to significantly enhance ETH’s network efficiency and functionality. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/OCtCtZBJ/" alt="Ethereum (ETH) price chart on TradingView" width="2770" height="1496"> 
Featured image from Unsplash, Chart from TradingView

Ethereum In Peril? ‘ETH May Not Even Be A Listed Asset In 10 years,’ Says Legendary trader

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