Ethereum 2.0 mortgage is expected to start in July, can it bring a bull market?

In the early hours of May 12th, Beijing time, the third halving in the history of Bitcoin finally came, and Bitcoin officially halved at the 630,000th block. The first block of the halving was dug by AntPool, and the block reward was halved from 12.5 bitcoins to 6.25 bitcoins.

What is interesting is that the F2Pool mining pool wrote the title of the article "NYTimes 09/Apr/2020 With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescue" published by the New York Times on April 9th ​​into the Bitcoin before the third halving. The last block (block height 629,999), in order to pay tribute to the Times front page headline "The Times 03/Jan/2009 Chancellor on brink" written by Satoshi Nakamoto in the genesis block of Bitcoin on January 3, 2009 of second bailout for banks". This makes this halving full of ritual and commemorative significance.

The third halving of Bitcoin came very quietly, and even the price did not change much. As of writing, the price of Bitcoin is still within $10,000 and remains at around $8,800. But the industry is not calm, there are two news worthy of our attention:

The first is that foreign media reported that JPMorgan Chase will begin to provide services for encrypted exchanges, and the first customers are Coinbase and Gemini.

What does it mean? In the current digital currency transaction, users must purchase bitcoins with fiat currency, and it is almost impossible to use cash for fiat currency purchases. Instead, it is only possible to transfer fiat currency to the digital currency exchange through bank transfers, and then proceed Buy.

Not only that, when users sell digital currency to obtain legal currency, they also need to transfer legal currency to traditional banks. Therefore, in this process, various associations and transactions will inevitably occur between traditional banks and digital currency exchanges.

For a long time, many banks in the United States, especially large banks, have refused to provide users with such services, that is, they have refused to have various contacts with digital currency exchanges, which has greatly restricted digital currency transactions and limited people’s access to digital currencies. way, while limiting the popularity of digital currency.

Readers who often pay attention to digital currency know that JPMorgan Chase’s earliest attitude towards digital currency was strong opposition and contempt. Its CEO said in public many times in the early years that Bitcoin is a scam. But then, especially after JPMorgan launched its own digital currency last year, its attitude has softened a lot.

Now that JPMorgan Chase has begun to actively contact digital currencies, it shows that traditional banking institutions have clearly changed their attitudes. In the future, more banks will inevitably follow up and lift the "ban" on digital currencies. This will undoubtedly pave the way for more users to access and purchase digital currencies.

The second news is about Ethereum 2.0. The news is that the beacon chain of Ethereum 2.0 may start staking activities as early as July this year, which is 2 months later.

In my article a few days ago, I estimated that the pledge of the beacon chain may not be until the end of this year or the beginning of next year, but this news shows that the progress is much faster than I expected. If the progress of the beacon chain is so fast, the staking activities of Ethereum will start to become popular immediately, and many teams in the circle will start to pay attention to and carry out various staking activities of the beacon chain.

To participate in staking on the Beacon Chain, each participant needs at least 32 ETH. How many people this event can attract to participate, and to what extent the popularity will eventually develop, is still unknown. If many people can be attracted to participate, many people will have the demand to buy Ether, which may give a certain boost to the recent price of Ether.