Coin Bureau Guy, the popular analyst of the channel, announced his price forecast for Ethereum (ETH) and Polkadot (DOT) in preparation for the new year.
Coin Bureau, which organized a Q&A event, touched on the Shanghai rise that will release staked Ethereum tokens. The analyst thinks that the developments in 2023 will be critical for ETH.
As we have reported as Koinfinans.com, the Shanghai rise is caused by billions of indirect Ethereumwill be unlocked. Although it is not known how this will result, Guy thinks it can reassure investors.
“There is a motivation to encourage investors to re-stake. First of all, unlocked ETHs are easy to sell, so traders will find it more sensible to re-stake. But we can see the other scenario as well. If there is a sale, I expect the price to drop. Whatever the outcome, I believe the future is pretty bright.
If you ask my price estimation, I can’t say for sure. But I don’t expect five-figure prices.”
polkadot Also explaining his views, Guy, founder Gavin Wood, says he sees multiple strong points for interoperable blockchain, including decentralization efforts and a strong developer community.
Polkadot has a special aspect in that it has more active developers than most other cryptocurrencies. Also, behind Polkadot, Gavin Wood is a smart guy. It is therefore important that Polkadot has taken steps towards decentralization and is moving in that direction. Therefore, I think Polkadot will still exist in the future. In my opinion, this is important for any decentralized crypto project, which is going to be a really tough year next year. Therefore, I think Polkadot will still exist in the future bull market.
Although Polkadot has some positive features, it also has some disadvantages. For example, DOT needs more use and development. Also, it has to compete with other projects like Cosmos. However, I think Polkadot has strong fundamentals and I believe it will be bullish in the long run.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.