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Ethereum: Real or Fake? Former Wall Street broker believes the token is a scam

Ethereum

TL;DR Breakdown

• Max Keizer attacks Ethereum while the token recovers its value.
• The second best-quoted cryptocurrency in the market, Ether, has gained over 6 percent of its value in the last week.

A top Wall Street strategist, Max Keizer, said that the Ethereum cryptocurrency could be a vile scam. Keizer agrees that the crypto Ether and some altcoins would be involved in a pyramid scheme where anyone could be harmed.

Cryptocurrency trading has been flat over the last 24 hours, with even ETH gaining 4 percent in value after weeks of the bearish streak. The tech cryptocurrency appears to recover despite being branded a fraud by speculators like Keizer.

Former stockbroker believes Ethereum is a scam

Ethereum

There are two types of people in the cryptocurrency market: those who blindly support their trade and those who believe that some tokens are scams, and Max Keizer is in the last group. After going through an online report about finances, the ex-stockbroker has just said that Ethereum is a pyramid cryptocurrency.

But Keizer says that Bitcoin is decentralized, scarce, and with a lot of resistance that could be boosted with crypto mining. The strategist feels that investors have learned of this theft method with alternate tokens, so they have stopped buying them. However, the graphs indicated by CoinMarketCap break Keizer’s claims because each Altcoin has risen its price along with Bitcoin.

Keizer attacked Ethereum believes these projects are not regulated, so they fail and insist that Bitcoin investment is preferable.

Max Keizer: A total Bitcoin fanatic

While Max Keizer speaks badly about Ethereum on the one hand, he indicates that Bitcoin was the preferred cryptocurrency to solve many problems during the year. According to Keizer, the best-quoted crypto changed the financial scheme and economically benefited several companies.

When Keizer was asked about Bitcoin’s current landscape, the strategist hints that it is a passing thing, the ex-broker believes that the cryptocurrency will replace gold, so all his holdings have been changed to Bitcoin. To conclude the report, Keizer said that BTC could reach $220000 by 2022, being its closest ATH.

Bitcoin is trading at $37,424, up 1.04 percent in value over the last 24 hours. But the crypto that Keizer attacked, Ethereum, is trading at $2,534 with a week-long bull run of 6.86 percent. Both cryptocurrencies came out of the bearish streak after reaching their ATH in November 2021.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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