Leader Bitcoin Developer Announces Unbelievable Levels Etherum Will See in September and December!
In contrast, Bitcoin developer and author of the book “Programming Bitcoin”, Jimmy Song believes Ethereum’s price will drop to $ 97 by the end of 2020.
Jimmy Song: Ethereum will drop to $ 150 and $ 97, respectively, at the end of September and December
Bitcoin developer Jimmy Song suggested that the price of Ethereum will drop to $ 97 by the end of 2020. Jimmy Song said this prediction in a panel discussion about cryptocurrency forecasts held by Finder.com. Jimmy Song said that the Proof of Stake (POS) would lead to the centralization of the project, which could lead to serious problems in the future. Jimmy Song adds to his comments on the subject:
PROOF OF STAKE IS NOT SAFE. IN FACT, IT WILL CENTRALIZE ETH IN SOME SERIOUS WAYS.
Jimmy Song definitely predicts that Ethereum will drop to $ 150 and $ 97 respectively at the end of September and December.
Advantages and disadvantages of Ethereum’s transition to Proof of Stake
The year 2020 was potentially a historic year for Ethereum due to the transition from the Proof of Work algorithm to the Proof of Stake . To support this transition, several positive reasons have been shown, including the lower network maintenance cost of Proof of Stake, which allows more validators to join the network compared to PoW. A weakness of the PoS algorithm, however, is that the cryptocurrency and Blockchain are likely to be centralized.
PoS allows Ethereum traders who have a certain amount of crypto money to share their assets as a validator and receive rewards to secure the network in return. Centralization can only occur after a small number of Ethereum “whales” act as validators. This gives them tremendous power, which, among other things, can significantly compromise the integrity of the network and trigger the 51% attack. Despite this, some experts believe that Ethereum will do better after this transition.
Here are other predictions about Ethereum
While Jimmy Song was skeptical about switching to PoS for Ethereum, some key players in the industry made some positive predictions about the price. Overall, positive estimates put the price at $ 332 by the end of the year. Experts expect the Ethereum to reach $ 1,000 in the next 6 months. Ethereum is currently trading at $ 240. The transition to PoS has been delayed but is expected to happen soon.