Ethereum's value has been moved by a number of factors; the main of which has driven high expectations as a decoy from Ethereum's current price action. Unfortunately, the decoy "Proof of Stake" or "Merge" or "Docking", is merely a decoy.
U.S Infrastructure bill. Passed in November 2021; it contained a number of budgetary measures with the aim of taxing crypto-currencies. A long standing debate between Washington lobbyists and Senators ensued, the battle between Lummin's and Portman's amendments. At last amidst the fog of the money printer that was the main goal of the Infrastructure Bill. Neither amendments passed and the bill remained in it's original state. The bill is due to come into effect in January 2023. Once implemented; exchanges, brokers, node runners; virtually all within the chain of custody of a crypto transaction will be forced to file 1099 forms with the IRS . Whilst this is technically impossible in PoW networks, it is possible within a PoS system.
I believe ETH's fair price is anywhere from 170$ to 560$. Of course, I could be wrong and for this reason, I propose a DCA plan within this idea. However; in terms of macro, fundamentals and taking into account that ETH proof of stake is no technical challenge, but a trinket that has been dangling in the face of potential investors since 2017. It is in my view, that it has become unrealistic to expect a significant retrace to its previous valuation at least in the short term.
U.S Infrastructure bill. Passed in November 2021; it contained a number of budgetary measures with the aim of taxing crypto-currencies. A long standing debate between Washington lobbyists and Senators ensued, the battle between Lummin's and Portman's amendments. At last amidst the fog of the money printer that was the main goal of the Infrastructure Bill. Neither amendments passed and the bill remained in it's original state. The bill is due to come into effect in January 2023. Once implemented; exchanges, brokers, node runners; virtually all within the chain of custody of a crypto transaction will be forced to file 1099 forms with the IRS . Whilst this is technically impossible in PoW networks, it is possible within a PoS system.
I believe ETH's fair price is anywhere from 170$ to 560$. Of course, I could be wrong and for this reason, I propose a DCA plan within this idea. However; in terms of macro, fundamentals and taking into account that ETH proof of stake is no technical challenge, but a trinket that has been dangling in the face of potential investors since 2017. It is in my view, that it has become unrealistic to expect a significant retrace to its previous valuation at least in the short term.