The Ethereum 2.0 upgrade has received quite a boost over the last few days, moving the needle from below 10% to around 20% at the writing of this piece. Analysts predicted that whales would wait until the last minute to put their 32 ether minimum in. Makes sense. APY on projects usually drops the more people come in, and this one will likely be no different. The people who want to invest are probably trying to get an assessment of what the APY is really going to be before making a decision.
Can they do it?
So I'm not going to do one of those stupid articles that takes both sides and then remains completely neutral at the end, wasting your time (and mine). I'm going to give you my opinion and actually be unafraid of being wrong, unlike these other shills like Elliotrades and Bitboy.
They'll make it. This may seem like a reversal of my previous article, the first link above. Well, we have new information. I learn more about crypto every day.
Yeah, they'll make it. Whales have more than enough ETH not to care about 32, and I think the community will come to its senses soon and organize what needs to be done. If not, then that really adds credence to my surface level assessment that the Ethereum community is really a bunch of degenerates. This really is important to the world, and we're going to see if people actually believe in their ability to affect things. It's a testament to see if the community can un-brainwash itself and take primary responsibility for the world instead of outsourcing it to government.
Will the ETH price drop if they don't get the rest of the ether they need? I think so, but not because of the delay.
If you've ever watched a stock drop after a great earnings announcement, here's why: People likely bought the asset ahead of the announcement and sold the news. If you see a huge pump before a big announcement, you're probably going to get a short drop unless the announcement far exceeds expectations. Sellers are looking for anything to take profits on ether at this point. The slightest bad news will provide this opportunity. The dip will be short-lived, however.
The dip will be a short one because ETH didn't even blink after the news of the accidental-on-purpose hard fork initiated by developers in the Foundation a few weeks ago. To me, that news was much more relevant for the long-term prospects of ETH than the timely rollout of the Beacon Chain, but that's just it — the market wasn't ready to recognize any bad news from Ethereum at that point. It wanted to go to $500. Nothing can stop that.
I'm sitting back with some popcorn to watch this one — it makes for much better cocktail party conversation than boring Biden talk.
Note: See how succinct articles can be when the writer's not trying to waste your time with useless, ass-covering exposition and "take both sides while offering no real opinion" trying to sound smart?
