Ethereum Popularity in China on the Rise as Vitalik Says No Unsolved ETH Research Challenges Left
- A Twitter user predicts that Ethereum’s price will rise by 50%.
- The prediction is based on the increased searches for Ethereum within China lately.
Trends around the world change as the crypto market evolves, and one Twitter user noticed an interesting surge in interest regarding Ethereum. Based on data collected from Google Trends, the user pointed out that the searches within China for the word “Ethereum” have increased exponentially over the last couple of days. As a result, the account projects that the price of ETH will go up very soon.
Ethereum is at higher peak interest in trends than any other crypto. Also China at one of the top for interest… Something big coming for ETH?? I would be surprised if we don't see at least 50% increase for ETH in next 5 days.#Ethereum #ETH $ETH #Crypto #Bitcoin pic.twitter.com/YIDPSy4hwt
— Journey to 100k 🚀 (@Journeyto100k_) July 17, 2019
During the last week, Ethereum has fallen from $350+ highs to $200 lows. At the time of writing, Ethereum is trading at $216.02, rising by 6.66% in the last 24 hours.
Ethereum is often used as a way to measure the confidence in the altcoin market, though Bitcoin often the subject of less damage. Presently, Bitcoin is priced at $9,760.70, rising by 2% in the last 24 hours. Even when Bitcoin was experiencing the greatest gains recently, ETH predominantly failed to follow. If the value of ETH increased by 50%, as the Twitter user predicts, the change would be dramatic and unlikely, though it would challenge the resistance at $300.
This new interest comes just after Ethereum developers hosted an Ask Me Anything session this weekend. Overall, the vibe was positive, but the big topic of discussion was on Ethereum 2.0, led by co-founder Vitalik Buterin. Buterin voiced bullish support and faith in the future of the project, saying,
“I really honestly think that there are no unsolved research challenges at this point.”
Unfortunately, reactions have been mixed, based on other developments for Ethereum. One of those developments is Buterin’s plan to partner with Bitcoin Cash, another altcoin. At the time of writing, Bitcoin Cash was at $295.84, and it had risen by 4.77% in the last 24 hours. While the plan would be to use the blockchain of Bitcoin Cash as a solution for scalability issues within Ethereum, this idea was met with disdain.
One advocate for Bitcoin, Francis Pouliot, stated,
“The shitcoin (Ether) has hit a (two-year) low versus Bitcoin.”
“The founder has all but declared the project a failure today by proposing a humiliating (Bitcoin Cash) integration to delay the (yet unsolved) scalability (sic) crisis.”
The shitcoin $ETH has hit a three-year low versus Bitcoin. The founder has all but declared the project a failure today by proposing a humiliating bcash integration to delay the (yet unsolved) scalibility crisis.
tHe fLiPpeNniNG iS nEaR pic.twitter.com/DzKxW4O6F4
— Francis Pouliot ☣️ (@francispouliot_) July 15, 2019
The backlash seems to come from the issues in publicity that developers with Bitcoin Cash have been dealing with since 2017. When the coin sustained a hard fork in November 2018., the Bitcoin price dropped drastically by 50%.