Coin Bureau predicts 2023 will be big for Ethereum and Polkadot (DOT)
As markets prepare for the new year, the wildly famous crypto analyst Guy of Coin Bureau is releasing his projections for Ethereum (ETH) and Polkadot (DOT).
Guy suggests in a recent Q&A update that Ethereum’s Shanghai upgrade, which will permit unstacking of ETH, might make 2023 a landmark year for the dominant smart contract platform.
The liberation of billions of dollars worth of ETH, according to him, may inspire investors to begin staking their currencies without fear.
“They may be encouraged to start staking once they realise their ETH can be unstacked and sold without any hassle. Therefore, I believe it may go either way. Now, I wouldn’t be shocked if the short-term outlook is a little pessimistic if we do see selling. But I believe that the future of ETH is really bright, and if Shanghai goes through without a hitch, as the merging did, then 2023 may be a monumental year for Ethereum and ETH.
I cannot make a price prediction. I do not anticipate a five-figure ETH in 2023, but I believe it is completely feasible. The possibility of a flippening exists, but I am unsure. Over the course of the next year, I anticipate ETH’s price will move mostly in a single direction.”
The host of Coin Bureau believes Polkadot’s interoperable blockchain has numerous strengths, including its inventor Gavin Wood, its efforts toward decentralization, and its robust developer community.
“I believe it has two unique advantages. It has one of the biggest numbers of active developers among all cryptocurrencies. There are several individuals working on Polkadot. And of course, the man behind it, Gavin Wood, is a very intelligent individual. And in reference to Gavin Wood, I believe Polkadot has made significant strides toward decentralization, which I believe will be crucial. Any cryptocurrency project that isn’t adequately decentralized might have a difficult year in 2019, and I believe Polkadot is headed that way. Consequently, I believe Polkadot will be present throughout the subsequent bull market. I believe it has many positive qualities.
However, there are some headwinds as well. Certainly, we need to see additional use cases for DOT. We need to see more progress. There is competition from projects such as Cosmos, which is another fantastic endeavour, and all the other layer-1s available. But I believe Polkadot has solid fundamentals and am positive on the stock over the long haul.”