Ethereum (ETH) co-founder Vitalik Buterin thinks his influence on Ethereum has waned over the past few years. Speaking in a recent interview, Buterin thinks that the pressure and anxiety on people should decrease in order for the offers to be accepted.
Vitalic Buterine Loses Its Effect
While Ethereum price has been trading without posting any changes in the last 24 hours. Creator of Ethereum Vitalic Buterinenoted to American tech entrepreneur and investor Naval Ravikant that its impact on Ethereum is not the same as it was six months ago.
Buterin stated that he clearly feels that his influence on Ethereum “continues to wane” and that the Ethereum Improvement Proposals he promotes require more effort to gain approval from the community. According to Buterin, this is a challenge and he needs to alleviate people’s concerns about updates to the ETH network.
“I feel like my influence in Ethereum continues to wane every six months. I have less now than six months ago. Six months ago I had less than a year ago. And a year ago, I had less than I had 18 months ago.”
Buterin added that people in the Ethereum community need to be persuaded to push ideas in a particular direction.
The Ethereum community believes that Vitalik Buterin’s waning influence on ETH could negatively impact investor sentiment. Also, the Ethereum Foundation recently announced that 80% of its assets are made up of ETH. Experts question the lack of stablecoin and FIAT support in the asset, and fears of a potential price drop in the short term persist.
Still, the percentage of short-term holders of Ethereum (more than three months old supply) has reached a new low, and historically, when the indicator is near the bottom, it is considered a bearish sign. Therefore, Ethereum price is closer to bottoms than tops by the behavior of the holders.
A crypto analyst at @IncomeSharks has the opposite opinion. Analysts have identified a double-sided supertrend and Ethereum may have the strength to rise faster than people expected.
$ETH – 4h double bullish supertrends. If we have strength we are going to see a move up quicker than people are expecting. Stop losses below the bottom supertrend support in case it gets invalidated. pic.twitter.com/Co5IHWXSqM
— IncomeSharks (@IncomeSharks) April 21, 2022
FXStreet analysts believe that Ethereum price is on its way to burst and hit the $3,700 target. Analysts have identified a triple tap setup on Ethereum and an upside target of $3,700, with the downside capped at $2,800.
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.