Hugely popular crypto analyst Guy of Coin Bureau releases his predictions for Ethereum (ETH) and Polkadot (DOT) as markets gear up for a new year.
In a new Q&A update, Guy says Ethereum’s upgrade to Shanghai, which will allow ETH to go unstaked, could make 2023 a big year for the leading trading platform. smart contracts.
He says that when investors see the release of billions of dollars worth of ETH, it may encourage them to start staking their coins without worry as well.
“When they see that this ETH can actually be unstaked and easily sold, that might inspire them to stake themselves. So I really think it can go both ways. Now, I wouldn’t be at all surprised if it was slightly bearish in the short term if we saw some selling. But I think the future of ETH is so, so bright, and I think Shanghai, assuming it goes smoothly like the merger did, so I think 2023 could be a really great year for Ethereum and for ETH.
Price prediction, I don’t know… I don’t think we’ll see a five-figure ETH in 2023, but I think it’s entirely possible. We could, of course, see a flippening, but I’m not sure. I expect a very large sideways price move for ETH over the next year.
Looking at Polkadot, the Coin Bureau host says he sees several strengths for the interoperable blockchain, including its founder Gavin Wood, its decentralization efforts, and its strong developer community.
“I think he has two things in particular. It has one of the highest numbers of active developers in all of crypto. There are a lot of people working on Polkadot. And of course, Gavin Wood, the guy behind it, is a very, very smart guy. And speaking of Gavin Wood, I think Polkadot has come a long way and taken a lot of steps towards decentralization, and I think that’s going to be really important. Any crypto project that is not decentralized enough could have a very rough year next year, and I think Polkadot is moving in that direction. So I imagine that Polkadot will still be there in the next bull market. I think he has a lot to do.
That said, there are also headwinds. We need to see more use cases for DOT, definitely. We need to see more development. There’s obviously competition from Cosmos, which is another awesome project, and all the other types of Layer 1s. But I think Polkadot has strong, long-term fundamentals, I’m bullish on that.
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