One of the Bitcoin (BTC) whales says he suspects that Ethereum (ETH) can reach the highest level of around $ 1,450. The anonymous trader Joe007, known to have made big transactions on the cryptocurrency exchange Bitfinex in many tweets, explains why people believe they will lose interest in the second largest cryptocurrency.
The whale says that companies that build Ethereum in the long run will likely look for alternative platforms with lower transaction fees.
“Also, there is no need or use for ETH other than the fee. As the wages rise too much, the incentive to quit Ethereum also increases. ”
Joe007 is also a critic of decentralized finance (DeFi) and describes it as a marketing campaign.
The reasons are many, how about this one. DeFi projects are are more risky than Ponzi schemes. In addition to expected exit-scam by project founders they can be unexpectedly hacked by external players. https://t.co/L6lj6v4DVJ
— All "Joe007" signals·alerts·funds are scams (@J0E007) July 19, 2020
Despite seeing a surge in Bitcoin in the long run, Joe made no predictions about where the price of BTC could go.
“Bitcoin is much more than just a currency. A completely new social technology: non-political, non-confiscable, dominant, extra solid money. I expect humanity to accelerate its transition to a completely new economic and social order that will slowly emerge over time. ”