Ethereum’s Future: Can It Compete with Bitcoin?

There are many investors who talk a lot about #Ethereum and also make its price predictions. I know some analysts who say that the price of #ETH can reach $20K or even compete with Bitcoin.

I do not agree with them at all, and there is a reason for this. In this post, I will share with you the good and bad points about #Ethereum so you can evaluate for yourself how much potential this coin holds.

As we all know, Ethereum is used for paying transaction fees and providing other facilities. After the recent update, it has shifted to proof of stake and has now become centralized. Before this, Ethereum's consensus mechanism was proof of work.

Despite its update and SEC approval, there hasn’t been a significant price increase as seen with Bitcoin. From what I’ve observed, there has only been a 100% price pump, and its value hasn’t grown much beyond that.

The main reason is that investors have not yet fully trusted this coin. Firstly, Ethereum can never compete with #Bitcoin because its nature has changed, and it has now become centralized. Investors do not have confidence in this coin.

Secondly, its gas charges are the highest and not instant. For any transaction, at least $12 has to be paid, which investors will never like.

Additionally, its transaction speed is not as fast as Bitcoin's, which is a major drawback. These are the reasons why its price has only reached its all-time high so far.

However, one major advantage of this coin is that its centralization can lead to its development. Perhaps in the future, its gas charges will decrease, and its transaction speed will become faster. If it is made similar to Bitcoin, its price will rise significantly at that time.

Do you think Ethereum will grow well in the future? Can its price ever reach the level of Bitcoin? I would be happy to see your answers in the comment section.

I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.

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