Even though top cryptocurrency experts claim that the crypto winter has already thawed, it doesn't necessarily pertain to Ethereum, the largest altcoin whose price is struggling to pick up steam.
According to cryptocurrency expert Chris Burniske, Ethereum is currently in its very first ‘mainstream’ bear market. He compared the current bear market to that of Bitcoin, which took place in 2014-2015.
The price of Bitcoin plunged to $250 back in 2015 after peaking at $1,149 in 2013.
At the time of writing, the coin’s price is sitting at $189,38 after a 5 percent drop, but another Burniske’s tweet suggests that investors shouldn't be blindsided by the bearish price action given that the network is experiencing active development.
2/ To objective observers, the network’s momentum was clear despite the bearish price action; those pre-disposed to dislike based on perceived vested interests, were blinded by biases & missed the bus.— Chris Burniske (@cburniske) August 20, 2019
What happened to $BTC then is happening to $ETH now.#StackSats, #EarnETH
As reported by U.Today, Ethereum 2.0 will mark the much-anticipated transition from proof-of-work (PoW) to proof-of-stake (PoS).