Ethereum 2.0 is a Double-Edged Sword! Only Loss Awaits
The Ethereum 2.0 launch might not work exactly the way ETH fanatics are hoping it would
Ethereum is one of the most popular altcoins in the market, but the crypto is experiencing massive volatilities in its market value, especially after Bitcoin plummeted right at the end of 2021. Currently, Ethereum investors are quite anxious about the prospects of their future investment in crypto as its volatility has increased by leaps and bounds. After the massive Terra crash, ETH tried to recover from its losses, but the cards have been reversed yet again as Bitcoin fell and Ethereum went down with it. Experts have related this market crash to that of the stock market, which fell simultaneously due to increasing inflation, and various other macroeconomic factors. Several crypto investors have almost lost hopes for Bitcoin regaining back its value and rooted for ETH to take over the crypto market. Since the Ethereum 2.0 upgrade is due for its launch, it is quite expected for Ethereum to upsurge in value, but it currently seems like investors are hardly curious about it anymore. Even after the Ethereum Merge upgrade is expected to be launched this year itself, the current volatility of the market has made things worse Ethereum and the Ethereum 2.0 upgrade are nowhere near causing any hype in the market.
According to coinmarketcap, the current value of Ethereum, at the time of writing this article is somewhere around US$1,100, which clearly demonstrates that Ether has failed to inspire the appetite for investment among Ether investors. Besides this, the delay in the transition is also one of the many reasons which might eventually lead ETH 2.0 to take the same road that was taken by LUNA 2.0. Recently, Ethereum's lead developer Tim Beiko tweeted that the core developers have decided to yet again delay the launch of Ethereum 2.0. The developers wish to recheck the numbers and eradicate any complexities or bugs that are present in the network's difficulty bomb. This announcement ushered in a wave of hopelessness and disinterest in the new Ethereum upgrade, which might also be one of the major reasons why that led the Ether price to slide so drastically.
Will Ethereum 2.0 become a replica of LUNA 2.0?
Ethereum, like crypto, has gained immense popularity, over the past couple of years. Crypto still remains one of the dominant forms of cryptocurrencies, but its price actions have been quite bearish since late 2021. The value of the ETH tokens has been consistently declining over the past several weeks. This week, Ether fell to its lowest levels since January 2021. But ETH investors are eagerly hoping that the new upgrade might help its indisposed price action.
Recently, crypto experts reported that Ethereum 2.0 might not be a hit and instead will turn out to be just the opposite of what everyone is expecting. Crypto fanatics generally tend to appear more enthusiastic when the market is producing a new launch. Back in 2021, the price of Bitcoin skyrocketed after the first Bitcoin Futures ETF was approved by the SEC in the US. But unfortunately, Ethereum's upgrade has failed to cause such a buzz in the market and is experiencing massive sell-offs by its investors. It is quite evident that investors are spooked by the continuous blows from the market, one after the other.
So, is it safe to buy Ethereum right now?
According to experts, the Ethereum Merge upgrade is like a double-edged sword. If in case the upgrade has a successful impact on the crypto market, then Ethereum might reign at the top of the market and can also take Bitcoin along with it, but if it fails to appease investors, Ether might turn into another one of those crypto nightmares and might shortly follow LUNA 2.0. Either way, investor sentiments are key to the project's success, and only time will tell how they will react to the new launch.
