Ethereum 2.0 upgrade and hard fork could be a free money grab for crypto investors

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Avatar for Fexonice1
1 year ago

The anticipated September 19 Ethereum 2.0 upgrade that the Ethereum Foundation is likely to publish in the coming days was one of the catalysts I identified in the post about future events that could trigger the start of the next bull market.

It was evident to me after reading @Pantera article in which he described the upgrade's nature in depth that it will probably result in a hard fork on Ethereum, and as a result, investors may want to keep an eye out for the impact on the crypto market in the coming weeks.

I recall what transpired when Bitcoin Cash had a comparable update two years ago, which ultimately resulted in a fork on the network with the Bitcoin ABC fork. Everyone who understands the technology made sure their BCH was secure in their personal wallets before the upgrade date so they could earn more from the fork, and that is what actually happened. Some even stacked extra BCH before the upgrade date. I anticipate the Ethereum update to be similar.

As a result, I think most financial institutions and crypto whales are preparing themselves for the hard fork and it will be a win-win for them and a loss-loss for people who are not prepared for the fork or for people who simply do not understand what the fork means.

The best way to learn is through experience, so let me share with you why I think this is might be a free money grab for crypto investors.

When Bitcoin ABC forked Bitcoin Cash two years ago, I had about $250 in BCH at the time. I then did some research to learn how I could profit from the fork, which helped me to understand everything about a Hard fork and what would happen to the BCH I hold in my wallet. As a result, I ended up stockpiling more BCH, reaching a total of $450 in Bitcoin Cash before the chain split. I did that after realizing that, regardless of the value of the forked coin, I would receive the equivalent of all of my BCH in it in a ratio of 1:1, and I eventually received $45 worth of the new coin, which at the time was known as BCHA.

The Ethereum chain hard fork will be very similar to the Bitcoin Cash fork, so, everyone who holds Ethereum will be entitled to the equivalent of their ETH. They will get for example 1 ETHW for every 1 ETH in their Ethereum wallet with the ratio being 1:1 (ETHW to ETH). This means that anyone who owns ETH is automatically entitled to 1 ETHW in their Ethereum wallet which they can convert to ETH or sell for profit when the chain hard fork takes place on September 19. This could amount to a huge amount of free money if the ETHW/ETH price ratio looks very attractive after the fork, and since it's going to be free money, whatever the price ratio looks very attractive to me.

From all indications, there may be a price spike for Ethereum leading to the day of the fork with the ETHW/ETH price ratio looking extremely attractive once the fork takes place. This will probably lead to a rise in the ETH price and the trading volume will probably also spike due to the increase in demand for ETH.

In the meantime, people who do not own ETH can buy ETH and hold it for this hard fork, which could give them a significant profit when the fork happens, and at the same time, it will be much easier to sell it if the price crashes post-fork and they can still convert it to ETH.

Now, everyone should understand the importance of knowledge and the need for preparation and investors should be prepared for the hard fork in Ethereum and the alternative coin.

I feel like this is another free money grab similar to what happened in Bitcoin Cash, but this time with a much higher potential of profit for all participants. I think it will be a very volatile week leading to the fork and I expect the price of Ethereum to go up or down, and any investors who take profit from the hard fork before September 19th will also have to more profits from the fork in Ethereum.

So, if you are thinking about investing in Ethereum to participate in the hard fork, just stay tuned, there is still a lot to learn and all the good stuff will be coming up soon, and by the way, I am having second thoughts about buying Ethereum because I think that in the end, I will be able to profit from the hard fork. I hope the analysis I've done has been helpful and I hope I am not the only one having second thoughts, I hope the price will peak before the fork, and then take a significant fall leading to the hard fork with me taking profit while still holding some ETH, so that I can get the hard fork coins to convert to ETH as soon as the fork is completed.

Stay tuned for more updates, and good luck in your crypto investment!

Disclaimer

Please note that this article is meant for informational purposes only. It is not an offer to buy or sell any financial instrument and should not be regarded as financial advice in any way.

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1 year ago

Comments

This kind of information should be spread among crytpo enthusiasts and for most people who are willing to learn more about cryptocurrency.

$ 0.00
1 year ago

Proof read the title 😆 🤣 😂 Laughing so HARD

$ 0.05
1 year ago

Just changed it. I actually checked the meaning of the word"cum" before using it, I didn't look at the alternative meaning about it with sss🤓🤓

-cum- preposition UK / -kÊŒm-/ US / -kÊŒm-/

used to join two nouns, showing that a person or thing does two things or has two purposes; combined with:

https://dictionary.cambridge.org/

$ 0.00
1 year ago

Like a double-Dutch 😆

$ 0.00
1 year ago

Anything and any new prediction can be made. I agreed previously results predicted what you had said. But I don't think hard fork of ETH will perform well. Thanks for sharing good information to all of us.

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1 year ago

Why do you think so? I think you should read Pantera article about the matter to be able to make a sound judgement on the matter.

$ 0.00
1 year ago

I have read his article with all facts. After reading your Article I successfully revealed what I think.

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1 year ago

Trade carefully with this.. could be a good investment.. I could take a deep look on this seen it but havent actually taken a deep thought

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1 year ago

Yeah, you are right, things can go either way. However, the only way that it may fail completely is if the fork does not take place, but as it is right now, everything seems to be going in the direction leading to a fork. Poloniex exchange already promoting the fork and making plans to add the pre-fork coin to their futures trading pairs.

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1 year ago

then thats a good one.... I think its going to be massive

$ 0.00
1 year ago