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Ethereum (ETH) well placed to gather before Constantinople Hard Fork



Ethereum (ETH) is well positioned for a rally shortly before its impending gallows of Constantinople. The word on the street is that this hard fork should give a huge boost to the price of Eth / USD. It seems reasonable to expect that, considering the purpose of this hard fork, making the transition from Proof of Work (PoW) to Proof of Stake (PoS) more effective. Ethereum (ETH) has lost its second coin position by market capitalization, but we have reason to believe that it has lost much more. Things are not the same as they were at this point during the previous cycle. In fact, Ethereum (ETH) is no longer able to define itself as the leader of altcoin or coins of the platform.
Many of the direct competitors of Ethereum (ETH) such as Ethereum Classic (ETC), Cardano (ADA), Lisk (LSK) and Quantum (QTUM) are far ahead in terms of progress made in recent months. They have actually gained in the areas where Ethereum (ETH) has lost. This is why it is not surprising that Ethereum (ETH) ended up losing its place to Ripple (XRP). The forthcoming rigid fork is expected to boost the price of Ethereum (ETH) because it will ease one of the most controversial transitions in the history of the blockchain. The decision to go to Proof of Stake (PoS) was not easy, but Vitalik Buterin believed it was worth the risk. There are still many developers in the Ethereum community (ETH) who feel excluded and betrayed in this transition.

Chart for ETH / BTC (1W)
It is still a big risk considering that there is a strong possibility that many miners and developers will return to the Ethereum Classic (ETC), the original chain. In short, it's a big bet. If Vitalik Buterin and his team succeed in this way, they will have something that nobody has achieved so far. Blockchain as Ethereum Classic (ETC) will become instant winners in the PoW space while Ethereum (ETH) will pass to PoS but will still have to face all the challenges that are posed to a PoW model. We do not yet have sufficient evidence that Ethereum Classic (ETC) or any other blockchain that follows the PoW model can make it work long term. The development teams behind these projects believe they can do it, but honestly we do not know it yet.

The transition of Ethereum (ETH) to PoS is a big risk but Vitalik is willing to take it because it does not care about its impact on the price. In fact, it was very clear on how people are more concerned about cryptocurrencies that are successful as an investment rather than a technology. Thus, it is pertinent to note that Vitalik's decision may not have the best interest of investors at heart. That said, most of the people who are still invested in Ethereum (ETH) already know that this transition is going to happen. The fact that the Fortilin of Constantinople will alleviate this transition will probably attract many new investors and make them believe that perhaps this transition is not so bad and things could work in the long run.


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