Ethereum: Chris Burniske's crypto prediction

The Ethereum update is a highly anticipated event within the community. In particular, it will spawn the unlocking of crypto staking, which Chris Burniske believes could boost ETH’s growth. The crypto analyst explains his point of view.

I’m shocked it’s a debated question that *de-risking $ETH staking by allowing for unlocks* is bullish. And unfortunately for doubtoooooors, the fact it’s even a question makes me more bullish.

— Chris Burniske (@cburniske) April 3, 2023

Ethereum’s next update: a crypto event not to be missed

We’re referring to the upcoming Shanghai and Capella updates that are highly anticipated by Ethereum users. They are more commonly known as SHAPELLA.

The deployment of Shapella will indeed cause a number of changes within the Ethereum blockchain. In this case, it will allow investors to withdraw ETH stored in the Beacon Chain smart contract. Statistics show approximately 17.6 million ETH unlocked when Shapella was executed. That would be the equivalent of $32 billion.

The Shapella update: a bullish event

Many analysts agree: the unlocking of Ethereum staking will generate a bearish trend. According to them, this event will promote significant selling pressure on the asset.

Crypto analyst Chris Burniske, however, does not share these views. According to him, this event will instead boost the value of Ethereum. The Shapella update will indeed allow stakers to make withdrawals via staking contracts. This means that they will again have control over their investment. This will result in improved price performance.

Chris Burniske’s analysis is therefore based on investor confidence. According to him, this is a key driver of market performance. When investors have control over their funds, they are more likely to have confidence not only in their investments, but also in the ecosystem in general. This increased confidence will drive interest in the Ethereum network. This will boost the growth of this cryptocurrency in the long run.

Finally, is the Ethereum update an event to be feared or beneficial for investors? Only time will tell. Anyway, this is one of the most awaited crypto events.