bitcoin maximalist Max Keizer recently twitter.com/maxkeiser/status/1798426555024372222?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener nofollow”>reiterated his stance on ethereum, predicting a disastrous future for the cryptocurrency against bitcoin. Keiser's latest critique, shared on social media platform
According to Keiser, ethereum is “heading to zero versus btc,” citing fundamental differences in their underlying technologies and legal classifications.
Commodity situation and decentralization concerns
Keizer's argument revolves around the idea that ethereum is not centralized and lacks commodity status and a decentralized proof-of-work algorithm that “reinforces” bitcoin's appeal.
He notes that in countries like El Salvador, where he advises President Nayib Bukele on bitcoin initiatives, ethereum is considered an unregistered security rather than a commodity, a status that bitcoin has maintained in US regulatory circles.
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eth is not decentralized
It is not a commodity (like btc)
It is not proof of work
Heading to zero against btc
It is classified as an unregistered value in El Salvador. https://t.co/KQ3oezLHo5
—Max Keizer (@maxkeiser) twitter.com/maxkeiser/status/1798426555024372222?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener nofollow”>June 5, 2024
Despite criticism from bitcoin proponents, eth continues to maintain a substantial position in the market, trading above $3,800 with slight gains of 0.8% in the last 24 hours and 2% over the past week.
While bitcoin maximalists like Kaiser remain critical of the altcoin, many experts maintain a positive outlook, anticipating that eth could mirror bitcoin's historical performance of a parabolic rise.
Notably, eth's recent performance comes amid positive forecasts from leading financial analysts, including those at investment firm VanEck, who recently adjusted their prediction on ethereum's long-term price potential.
Contrasting View: VanEck Predicts Bright Future for ethereum
In a recent eth-2030-price-target/” target=”_blank” rel=”noopener nofollow”>mail In updating its forecast for eth, investment firm VanEck has offered a more optimistic view, projecting that the price of eth could reach $22,000 by 2030. This bullish outlook is based on eth's role in the smart contract platform space , its continuous development and its ability to alter traditional ones. markets.
VanEck's report attributes ethereum's “robust” framework for developers and its potential impact on finance and big tech as critical factors for its future valuation.
VanEck analysts also point to the imminent approval of spot ethereum exchange-traded funds (ETFs) as a key factor for eth adoption and price growth. They argue that such developments will improve the accessibility and demand for eth, which could lead to a significant increase in market capitalization.
VanEck analysts especially noted:
Driven by a strong value proposition for entrepreneurs, the ethereum network is likely to continue its rapid market share growth by traditional financial market participants and, increasingly, large technology companies. If it does so while maintaining its dominant position among smart contract platforms, we see a credible path to $66 billion in free cash flow for token holders backing a $2.2 trillion asset, or $22,000 per coin. , by 2030.
Featured image created with DALL-E, TradingView chart
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