I’m pretty neutral on bitcoin but Ethereum is 90% going past 5k at some point this year though it might not end the year there. my thought process is that it would do well even if it was strictly a ponzi scheme because of the intense bitcoin halving hype cycle and recent retail mania but then you also have to consider the deflationary changes to the network and the small chance that layer 2 solutions work as advertised. if the deflationary changes drive it into the 4-5k range and then we see more retail participation then 2017, you could very well see some absurd prices before things pop because of how illiquid crypto is and the intense HODL meme.
all that said, it’s going to be 3-5 years minimum for any of this smart contract stuff to be remotely fairly valued. and that’s coming from someone who is overall bullish on crypto/DeFi
edit: retracted because if I truly thought it was 90% likely I would be much more leveraged/exposed to it
I’m pretty neutral on bitcoin but Ethereum is 90% going past 5k at some point this year though it might not end the year there. my thought process is that it would do well even if it was strictly a ponzi scheme because of the intense bitcoin halving hype cycle and recent retail mania but then you also have to consider the deflationary changes to the network and the small chance that layer 2 solutions work as advertised. if the deflationary changes drive it into the 4-5k range and then we see more retail participation then 2017, you could very well see some absurd prices before things pop because of how illiquid crypto is and the intense HODL meme.
all that said, it’s going to be 3-5 years minimum for any of this smart contract stuff to be remotely fairly valued. and that’s coming from someone who is overall bullish on crypto/DeFi
edit: retracted because if I truly thought it was 90% likely I would be much more leveraged/exposed to it