There’s all sorts of buzz surrounding Ethereum and the upcoming Constantinople hard fork but is that buzz backed by anything substantial? We’ve seen how easily hype can affect the crypto market before but analysts are saying this time, it’s different. So let’s do a deep dive into the details of Constantinople and what it means for your ETH investment.
ETHEREUM (ETH) IS GEARING UP FOR BIG RALLY
We are already seeing the results of an Ethereum rally taking place. At this point, the price increase is mostly based on excitement for the Constantinople hard fork. However, if the hard fork is as successful as everyone thinks it will be, then we could very well see ETH/USD pair rally upwards and onward of $200. Both technical and market conditions seem perfect for this sort of move and while $200 is a far cry from its all-time high, breaking past that resistance point could prove to be very significant for Ethereum. But why are people so excited about Constantinople and what does it really mean?
IS THE HYPE SURROUNDING CONSTANTINOPLE REALLY WORTH IT?
ETH supporters love the upcoming hard fork because it will kick start the buttery, smoother transition from Ethereum’s current proof of work (PoW) model to a proof of stake (PoS). Of course, there are always doubters with a big move like this. Some say that a move to PoS is not the right way to go but supporters of PoS struck back. It’s rumored that these very same people launched a 51% attack on Ethereum Classic (ETC) that exposed many faults of a PoW model and garnered a lot of support for this new hard fork. Regardless of where you personally stand, the hard fork is happening and it has massive potential.
WILL YOUR ETHEREUM INVESTMENT BE SAFE AFTER THE HARD FORK?
As we have seen in the past, hard forks can impact the market both positively and negatively. At the moment, it seems like a pretty safe bet that if you buy ETH now, you’ll make a little bit of profit after the hard fork. Is it enough to retire off of? Absolutely not, but it’s something.
A safe option would be to put up your ETH as collateral on YouHodler in anticipation of the hard fork. This essentially freezes your assets. If the hard fork goes well, then you can use the cash loan from us to quickly buy more ETH and capitalize on its success. If it doesn’t go well, you can invest in another rising crypto and then receive your ETH back at its original value. That way, you can keep your crypto but get cash when you need it.
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