Human stupidity is directly proportional to the rise in price, Eth network uses 256 bit of VM as its consensus node, in other words your smart phone is more powerful than whole ethereum network (10 tx/s, congestion, high fews), vitalik said they released caspers protocol on test net and price went to $1200 from $1000, did it solved scaling issue? NO, does developers going to deploy their app on ethereum now? No so what caused price surge? SPECULATION and human stupidity of over estimation, yes price of eth will rise till people are stupid to understand core of project (no hate, I am invested in eth as well cuz you are intelligent if you think eth is overpriced, but dumb if you don't invest).
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