Vitalik Buterin talks Ethereum: USD/ETH (ETH=) 2.0, DeFi, and community at ETHDenver

Vitalik Buterin talks Ethereum: USD/ETH (ETH=) 2.0, DeFi, and community at ETHDenver

Speaking at ETHDenver on Saturday – an annual blockchain hackathon conference hosted in Colorado – Ethereum co-founder Vitalik Buterin shared his views on decentralized finance, the development of Ethereum 2.0, and the Ethereum community as a whole.

On decentralized finance, Buterin stated that as it continues to grow, the simplest products will get the most users.

“I think the DeFi applications that see the most use are the simplest ones…stablecoins, synthetic assets, decentralized exchanges,” he remarked.

On the topic of Ethereum 2.0, Buterin expressed his optimism for the launch date, adding that he “definitely think ETH2.0 has been preceding quite quickly and regularly in the last few months.”

However, Buterin also notes that while Ethereum 2.0 is being tested and developed, new scaling solutions, such as rollups, are popping up that can provide some extra space for Ethereum to continue to grow.

“I hope that ETH2 gets released quickly…but even if it takes five years, rollups will give us some leeway until sharding [goes live],” Buterin says.

When asked whether Ethereum can survive without him, Buterin shared two views. From a technological perspective, Buterin said that Ethereum “definitely can” survive due to the influx of new researchers contributing to Ethereum. From a social perspective, Buterin was a bit more uncertain. 

“I’ve tried to let the community debate,” Buterin stated, adding that he has been off-hands for most debates in the community such as whether to unlock funds stuck in Parity’s multi-sig wallet.

“There is definitely evidence that the community is able to resolve [its issues],” he concluded.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 203.98.

The projected upper bound is: 279.73.

The projected lower bound is: 229.45.

The projected closing price is: 254.59.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 46.1466. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 65.63. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 51. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 18 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed up 0.360 at 252.240. Volume was 80% above average (neutral) and Bollinger Bands were 189% wider than normal.

Open     High      Low     Close     Volume___
250.700 263.650 246.370 252.240 194,744
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 249.64 179.76 176.02
Volatility: 109 77 73
Volume: 303,847 143,850 83,029

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX ETH= is currently 43.3% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into ETH= (mildly bullish). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 42 periods.

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