MAY CRYPTO CURRENTS | A MONTREAL CRYPTO DAY TRADER DIARY, WHAT THE ETH IS GOING ON?
When Will ETH Go Back Up?
Skip and take me to The Plan, Crypto Day Trading School. ETH is a popular Montreal crypto. Most of my friends have a few k in Bitcoin or Ethereum. This is on my mind and everyone’s mind in the crypto space… Ethereum is implicated in MOST Metaverse transactions. How many times do we see ERC-20 as we navigate the confusing NFT seas, virtual games and Day trading Coin Pairs. We were all hoping, during the brutal pandemic winter, this past 2021-2022, that the Spring would not only bring about a refreshing lift in Covid-19 restrictions, but a breath of fresh bullishness for Bitcoin’s sexier sister. Before diving into other topics, let’s see what the big crypto news sites have predicted…
What Will Ethereum Be Worth By The End Of 2022?
By the end of 2022, Ethereum could be worth $3633. This is an average of 3 different platforms. The highest predicted price of Ethereum by the end of 2022 is $4022. The price is quoted by TechNewsLeader.
The lowest predicted worth of Ethereum by the end of 2022 is $2700 predicted by litefinance and the most promising prediction that I have seen for ETH is by TIME magazine analysts with an increase as much as 400% in 2022, potentially breaking the $4,000 mark. I have placed my grid orders between $2200 and $3600, so I am able to catch the mild up and down swings, while waiting, like everyone for the bearish and boring storm to pass… what is my personal oracle telling me? I am thinking, it will go up when the new version comes out! Let’s look more into why…
What Will Happen AFTER ETH 2.0?
ETH is undergoing the biggest software upgrade yet, in order to be more scalable, secure and most importantly energy efficient. This will affect many ALT coins who transact on the ERC-20 chain and it will likely be what takes ETH back into a BEAR market!
Now for some techy-talk! Despite each part of ETH 2.0 being worked on in parallel, the delay in launching lies in the fact that they have certain dependencies that determine the big release date. These three elements are: The Beacon Chain, The Merge and Shard chains. Thanks to Currency.com, I am at least semi-familiar-with-HALF of all this stuff!
Sooo, stay with me. The Beacon Chain, which brings PoS to Ethereum, went live on 1 December 2021. This upgrade is not incorporated into the mainnet and will run in parallel until the transition, or “Merge”, takes place in the second quarter of 2022 – we’re looking at June! Meanwhile Shard chains will expand Ethereum’s capacity to process transactions and store data, and the Shard chains should ship sometime in 2023. So ETH holders need to be at least patient until Shard chains are shipped! So keep the coin in your crypto wallets this and next year for sure, don’t cash out when you see a Bearish looking spike this Summer, as there will be a MUCH larger one NEXT year.
The move will also expand the network of stakers. Staking is the act of depositing 32 ETH to activate validator software. Validators are responsible for storing data, processing transactions and adding new blocks to the blockchain. This means faster transactions from wallet-to-wallet, but also less gas fees and that would be great! Anyone who has purchased or sold an ETH chained NFT in the last few months, knows how painful the gas fees were…
What is a good coin pair for ETH While Day trading?
Well that depends on how risk-taking you are! You also need to consider which Montreal crypto is accessible for you to buy. Banks anf Credit cards often prohibit crypto purchasing, forcing Canadians to buy through Brokers. I’ll save you some time here… I have weeded out all the shady crypto brokers in Canada and can safely and strongly recommend Newton for all your crypto purchasing needs. They are FAST, Secure and The App is super user friendly! They have a great marketplace and reasonable fees. If you are looking for 2 coins that are likely to increase over time than ETH/BTC is a fun pair, however if you only want 50% of your investment to be the risky one, ETH and a stable currency would be best. I chose USDT aka TETHER, but you can choose pretty much any major currency to day trade with!
Top 3 Most Promising ALT Coins To buy in May 2022
It’s sooooo hard to pick 3! It’s like choosing which restos to try during Montreal’s Pasta Fest – when they are all great in their own way… but alas, we have to choose 3. When choosing 3, I use a plethora of techniques from education, to intuition and of course a ton of research. Here we go. I suggest you Google these coins and do your own due diligence.
APE
AVALANCHE
ALGO
If you want to see how my Montreal crypto day trading bots are doing, CHECK THEM OUT HERE! If you missed my last issue and want to learn about how I got started in all of this, take a look at April’s Crypto Currents HERE.
Are you less into raw crypto and MORE into NFTs? Check out Lord Of The Files. He has some truly rare NFTs that will be worth a fortune some day. Firstly, the artist Marcus Macdonald has been creating digital art since before most of you were born (1979!) and it’s more unique than all the shiny 3d tits and spaceships that litter the metaverse.. It’s raw, it’s analog, it’s manual-frame-by-frame hand painted pixel ART. Get out your ETH and snag a L.O.T.F NFT today!
Ciao for now and see you in the green lines!
-Foxylee
