Burn Baby Burn (Ethereum!)

4 predictions for the future of ETH [Altucher Confidential] March 07, 2024 [WEBSITE]( | [UNSUBSCRIBE]( We’re wildly bullish on Ethereum. But we don’t think you should buy it. Here’s why. [Hero_Image] Burn Baby Burn (Ethereum!) [Chris Campbell] CHRIS CAMPBELL Dear Reader, Reporting from La Libertad, El Salvador… He goes by Hamsa. (Or @eggsitstrategy on X.) He’s a technical trader by day, but made his millions in startups ranging from 3D printing (in 2013) to drone detection and mitigation (in 2016). His specialty, he tells me, is “business development in companies catching early hype cycles.” We met up in a coastal surf town outside of San Salvador. Upon writing, the Salvadoran barista is flirting with him on the other side of the coffee shop. I call him back to the table. (I’m on a deadline, after all.) Hamsa holds a core principle: “Liquidity, greed, and fear drive the markets. Simple. Analyzing charts is like analyzing the human psyche en masse.” His trading style, he says, is a hybrid approach. He follows hype cycles, seasonality, dollar-cost averaging, and technical breakout indicators. As he sits back down at our table, he messages his partner to execute buy orders for two cryptos at critical breakout levels. One is Ethereum, the subject of today’s article. The ETH to BTC Ratio One indicator he tracks is the Ethereum to Bitcoin ratio. (Ethereum/Bitcoin = ETH-BTC ratio.) If the ratio increases, Ethereum is outpacing Bitcoin. If it decreases, the inverse is true. Since Dec. 2021, the ETH-BTC ratio peaked and has since been in a downtrend. Meaning, Bitcoin has been vastly outperforming Ethereum. But, says Hamsa, “The technicals suggest Ethereum is about to flip the script.” He shared this with me: Click here to learn more At the same time… The Ethereum network is also on the cusp of a major upgrade, known as the Dencun upgrade, set to take place on March 13, 2024. (And, no less, rumors of an impending Ethereum spot ETF -- coming to market as soon as 2025.) This upgrade promises to bring big improvements to ETH’s efficiency, capacity, and decentralization. One main feature is the much-anticipated EIP-4844, promising to reduce Layer 2 transaction fees by up to 100x. (“Layer 2s” -- such as Coinbase’s Base chain -- are blockchains built on top of Ethereum to help it scale.) This is the biggest upgrade since the Merge, which, among other things, made Ethereum a deflationary asset. I’ll get into what this deflationary mechanism means in a moment. Here are five predictions I think will come of the Dencun Upgrade: Prediction 1: Ethereum will become the dominant smart contract platform With the Dencun upgrade, Ethereum is poised to solidify its position as the leading smart contract platform. The increased block space and improved efficiency will attract more developers and users to the network, leading to a surge in the creation of decentralized applications (dApps) and the adoption of Ethereum-based tokens. As a result, Ethereum will likely capture an even larger share of the smart contract market, outpacing competitors such as Polkadot, Cardano, and Solana. Famed A.I. Expert "Do This By March 8th" [James Altucher]( Genius investor James Altucher is predicting between now and March 8, a new generation of A.I. will create a brief "wealth window" in America. It could make crypto look like pocket change... [Click here for all the details ]( Prediction 2: ETH price will reach new all-time highs The anticipation surrounding the Dencun upgrade has already driven the price of ETH to new two-year highs, with the cryptocurrency hitting $3,900. As the upgrade goes live and the network's capacity expands, it’s likely the demand for ETH will continue to grow, pushing the price to new all-time highs. My own base case for ETH is $8,000 or more in the near-term. Here’s why: Prediction 3: Ethereum will become more accessible to mainstream users The Dencun upgrade will not only improve the technical aspects of the Ethereum network but also make it more user-friendly and accessible to mainstream users. With increased capacity and lower transaction fees, more people will be able to interact with dApps and participate in the Ethereum ecosystem without being deterred by high costs or slow transaction times. This increased accessibility will drive the adoption of Ethereum-based applications and services, bringing cryptocurrency and blockchain technology closer to mass adoption. Prediction 4: Ethereum's deflationary mechanism will drive long-term value (burn baby burn) The Ethereum network's deflationary mechanism, introduced with the Merge upgrade, has already resulted in the burning of over 1.5 million ETH, worth more than $5.6 billion at current prices. As the network continues to grow and more transactions occur, the amount of ETH being burned will increase, further reducing the overall supply. This deflationary pressure, combined with the increased demand driven by the Dencun upgrade, will contribute to the long-term value appreciation of ETH, making it an attractive investment for both short-term traders and long-term holders chasing yield. DON’T Buy Ethereum Brass tacks… The Ethereum Dencun upgrade is set to be a game-changer for crypto, bringing significant improvements to the network's efficiency, capacity, and accessibility. As the upgrade goes live, we can expect to see Ethereum solidify its position as the dominant smart contract platform, with the price of ETH reaching new all-time highs. Moreover, Ethereum will play a crucial role in the development of Web 3.0 and continue to drive long-term value through its deflationary mechanism. BUT We don’t think you should buy Ethereum. James and I have a MUCH better idea. (And with much greater profit potential.) James lets you in on everything you need to know in this [brand new interview](. [CLICK for the full video.]( Until next time, [Chris Campbell] Chris Campbell For Altucher Confidential [Crypto Millionaire Reveals His #1 Coin for 2024]( Did you miss the Bitcoin boom? Don't worry - James Altucher (who called BTC success at $114 in 2013) just revealed his top crypto for this year, with the potential to turn $100,000 into $10 MILLION by 2030. 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