Vitalik calls for making privacy a standard response to major banking leak incidents, is Ethereum about to welcome new application scenarios?

Vitalik Buterin calls for privacy to be standardized in response to a major banking data breach, which has caused Ethereum's price prediction to rise due to its association with one of the most important topics in this cycle. Before panic spreads throughout the market, the concept of Privacy Coin is gradually gaining follow, seen as the next important entry point for real-world applications through Tokens like Zcash.

Vitalik's recent comment that “privacy is not a feature, but a hygiene habit” has once again sparked interest, with Ethereum becoming the focus of the discussion this time. This argument stems from recent data breaches involving customers of large American banks such as JPMorgan, Citigroup, and Morgan Stanley.

In this round of market cycle dominated by institutions, the importance of privacy topics is increasingly prominent: institutional users need infrastructure that can provide privacy protection while also meeting selective disclosure requirements. In October, the Ethereum Foundation launched a new cluster focused on privacy and released preliminary details of Kohaku, a privacy-centric browser wallet and software development kit.

This is a step towards an article written by Vitalik in April, which outlines how Ethereum addresses the widespread structural data leakage issues in traditional finance and public blockchains. As a native blockchain positioned as a potential privacy solution connecting Web 2 and Web 3, the new demand is expected to help Ethereum complete the final shoulder of a potential bullish head and shoulders pattern. With supportive momentum indicators and a strong rebound from the historical demand zone around $2750, Ethereum may have already bottomed out.

(Source: TradingView)

After several months of continuous decline, the RSI indicator has rebounded strongly from the oversold threshold of 30, and the MACD indicator is also approaching a golden cross. Historically, the golden cross usually marks a local bottom for the price of Ethereum. If the pattern breakout is fully realized, the price is expected to re-establish itself around the neckline at $5,500, breaking through the historical high, and entering a new price discovery phase with a 90% rise. However, as the bull market matures, if Ethereum plays a more significant role in the transition from Web2 to Web3, the rise could be as high as 250%, reaching $10,000. (Cryptonews)