This Monday Ethereum’s Byzantium hard fork was activated, which has initiated phase one of the Metropolis protocol upgrade, which has been planned since 2015. This upgrade brings 9 Ethereum Improvement Protocols in order to improve Ethereum network’s security, privacy, and scalability.
Next phase is Constantinople, which has no release date, however, the estimated launch is in 2018.
On Monday 16th of October 2017, when block 4,370,000 was mined, the Byzantium upgrade was officially activated. It’s the 5th time ETH network underwent a hard fork. Going a little back in the past, in November 2016, during the last hard fork, Ethereum gained in value over 3000%.
Will this be the next “pushing” factor for Ethereum price? According to our technical analysis, this could be the case, and ETH could grow from the current price ($330) up to $400, $600 or even higher.
Of course, time will tell, but at the moment Ethereum is looking forward for a healthy gain.