Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-proponents-against-elon-musk-following-heated-dogecoin-vs-bitcoin-tweets/

ETH developers calculated how to defuse the difficulty bomb because if they leave it untreated, they will slow down the network as we can see more in our Ethereum news today.

Ethereum’s encoded difficulty bomb is set to explode this summer and James Hancock as well as Tim beiko said that the ETH developers calculated the time needed to delay the bomb and this could the last time the developers need to take that action. Ethereum developers agreed on Friday how to delay the difficulty bomb ad if that is left untreated, the entire network could be slowed down. The difficulty bomb is an old piece of code that makes mining on ETH slower and less profitable over time by increasing the lag between the production of blocks.

We just wrapped up #AllCoreDevs 113 😁

Agenda: https://t.co/54AacjzpFO
Recording: https://t.co/PM8CVZ7daL

Recap below 👇🏻 https://t.co/wDU2vlNnBS

— Tim Beiko | timbeiko.eth 🦇🔊 (@TimBeiko) May 14, 2021

Ethereum 2.0 switches the network from proof of work as a way of validating transactions with powerful mining computers to Proo of Stake which rewards the ones that pledge the coins to the network. It takes an average of 13 seconds to mine a block on ETH right now and without delaying the bomb, it could take more than 20 seconds to validate the block by the end of the year. Ethereum developers agreed on how many blocks were quite necessary to delay the bomb until December. The calculation for the delay was proposed by the ETH core developers James Hancock as he said:

“The bomb’s always there, and we defuse it by turning the blocktime back just for the bomb.”

He later said that the proposal will delay the bomb by 9,700,000 blocks. Tim Beiko, the ETH core developer also said that the developers dismissed a proposal to delay the bomb next spring but that won’t be necessary. The developers expected that by December, the network will update to allow the ETH 1.0 the network that relies on PoW to communicate with ETH 2.0 as the new network relies on PoS and this is known as the Merge:

“If the Merge is ready by December, we won’t need to do anything about the bomb because we will move away from mining entirely.”

If the merge plans remain unimplemented, the Shanghai fork is expected to go live and will delay the bomb once again. The Bomb has been delayed three times so far.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.dcforecasts.com/ethereum-news/eth-developers-calculated-how-to-defuse-the-difficulty-bomb/

TL;DR Breakdown

• VET retests 0.618 Fib retracement level.
• Closest major resistance at $0.22.
• Closest support at $0.16.

Today’s VeChain price prediction is bullish as the market continues setting higher lows over the past days in preparation for a push to the upside next week. 

The overall market trades in the red today as Bitcoin has lost almost 2 percent, while Ethereum trades with a 5 percent loss. Solana (SOL) is one of the best performers as it trades with a gain of 15 percent. Alternatively, Polkadot (DOT) is among the worst performers, with a loss of almost 9 percent over the last 24 hours.

VET/USD opened at $0.172 today after a bearish push yesterday. Over the past hours, VET/USD retested the local high at $0.19, from which the market moved lower once again and currently looks to set another higher low.

VeChain price movement in the last 24 hours

The VET/USD price moved in a range of $0.1701 – $0.1925, indicating a moderate amount of volatility. 24 hour trading volume has increased by 9.5 percent, totaling $1.7 billion. The total market cap trades around $15.5 billion, resulting in a market rank of 17th.

VET/USD 4-hour chart – VET consolidates in an increasingly tighter range over the past days

On the 4-hour chart, we can see bulls picking up any further selling pressure around the $0.175 mark, indicating that another slightly higher low will be set.

Overall the market continues retracing from the $0.25 swing high set on the 7th of May. A total loss of 35 percent was seen over several days, indicating that further selling pressure is likely exhausted.

Currently, the VeChain price action builds a base from which to move higher over the next week. Both a higher low and a lower high were established over the past 24 hours, indicating an increasingly tighter range. Therefore, once VET/USD breaks above the $0.19-$0.195 mark, we expect the market to rapidly move forwards to the next major resistance target around $0.215 – $0.22. From there, bulls will likely pick up momentum and push the market towards the current all-time high resistance around $0.27-$0.28.

Alternatively, Vechain cannot move any higher and breaks below the current local swing lows around $0.17, we should see another push lower over the next 24 hours. In this scenario, VET/USD will likely continue moving lower next week towards the next major support area around $0.12-$0.13.

VeChain Price Prediction: Conclusion 

VeChain price prediction is bullish as the market continues to consolidate in an increasingly tighter range after a sharp drop earlier this week. Therefore, we expect VET/USD to push higher early next week to regain some of the loss.

While waiting for the Vechain price action to reverse, read our guides on other great altcoins – Monero, Ethereum Classic, and Ripple.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/vechain-price-prediction-2021-05-16/