Ethereum prices rebound with proposals of a major network upgrade

With all the hype about crypto currencies we tought it was time to highlight something else but Bitcoin. We do not believe that all the small new crypto’s will be here for thelong run. They might be but they will not be worth as much as the Bitcoin. We invest only in the bigger 4 coins and the rest we will leave for the less serious traders. We think that in 25 years there will only be a handfull of coins and the rest will all be worthless or forgotten. We have been buying bitcoin since 2014 and some Ethereum since 2018. And we think Ethereum rises faster than the bitcoin.

Ethereum prices rocketed back above $1,700 over the weekend, hitting a multi-week high  after a major upgrade to the network was announced. The Ethereum Improvement Proposal 1559 will be implemented as part of the planned  London hard fork coming this July for the network, and will see a major shift in the way users  transact. 

Currently, users pay a gas fee to a miner for a transaction to be included in a block, which  make up a substantial part of miners’ overall income. However, under the new proposals – which have gathered support from users and  application creators – gas fees will be sent to the network instead in a new fee structure  called a “basefee”. Miners will only be given an optional tip by users, with the basefee set by  an algorithm and thus easier for users to understand and check if they are paying a fair fee  or not. 

Ethereum and bitcoin prices have both bounced over the weekend amid the news and the  latest expectations of further government stimulus. Ethereum climbed to a peak of $1,739  before pulling back marginally to trade around $1,683 this morning, while bitcoin also jumped  to a multi-day high above $51,000 before settling just under $50,000 this morning.

Over the Wiseguy

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