1. Positive views and potential benefits:
Matrixport has a positive outlook on Ethereum ETFs, expecting the US SEC to approve a spot Ethereum ETF this week, which could drive a rebound in ETH prices. Although the decision may be postponed to the week of July 8 due to the July 4 holiday, ETH prices are expected to rise once the SEC takes action.
Block founder Jack Dorsey firmly believes that BTC has the potential to replace the US dollar and predicts that it will reach $1 million. He emphasized that over time, people will gradually recognize the value and power of BTC.
Blockstream CEO analyzed the bull market from a historical perspective and advised investors to buy on dips as the drop was not that big this time.
The head of research at Fundstrat Global Advisors predicts that the BTC price will rise to $150,000 as the Mt. Gox distribution is completed, citing this as a reason for a sharp rebound in the second half of the year.
10x Research pointed out that Bitcoin appears to be oversold in the short term and has a rebound trend, and emphasized the positive market impact that the US SEC may approve the Ethereum ETF.
GSR Lianchuang remains optimistic about the prospects of Bitcoin and believes that Bitcoin may still reach new highs before the end of the year.
Analysts see a clear bullish divergence signal from Bitcoin’s RSI indicator, signaling a possible rise in prices.
The founder of CryptoQuant emphasized that the sources of funds for this round of Bitcoin cycle are different, and there is a lot of institutional capital waiting to enter the market, which shows the maturity and potential of the market.
CryptoQuant analysts observed that the Bitcoin miner capitulation indicator is close to the bottom after the FTX crash, which may indicate that the market has bottomed.
Rekt Capital believes that the longer Bitcoin consolidates, the better it will resynchronize with the traditional halving cycle, which also suggests the possibility of price increases.
Other positive factors include: reduced selling pressure from Bitcoin miners, FTX's repayment to creditors, and the potential impact of former President Trump's possible return to the White House on cryptocurrencies.
2. Negative views and potential negative factors:
Gold advocate Peter Schiff is pessimistic about Bitcoin and Ethereum, believing that the BTC bear market will continue and ETH may fall to $1,500.
Andrew Kang warned investors that more than 98% of altcoins have peaked in this cycle, and buying the bottom too early may be a wrong investment choice.
Overall, although there are differences in the market, whether it is bullish or bearish, it reflects the volatility and uncertainty of the cryptocurrency market. Investors should consider various factors comprehensively when making decisions and carefully assess risks.
3 Cryptocurrencies to Watch
TON
TON is a Layer 1 smart contract network designed for financial applications. The project was originally launched by Telegram co-founder Nikolai Durov as "Telegram Open Network", but was later renamed "Open Network" under the promotion of the TON Foundation. It aims to provide strong underlying support for innovative applications in the financial field.
RNDR
RNDR tokens are the core currency of Render Network, a platform designed to enable fast and low-cost rendering of digital content. Created by OTOY, the platform uses blockchain technology to effectively utilize idle GPU computing power to provide rendering services to artists and creators. The introduction of RNDR tokens not only promotes the development of Render Network, but also brings new possibilities for change in the field of digital art and 3D content production.
ICP
ICP is the governance token of the Internet Computer project, which proposes the cutting-edge blockchain concept of "world computer". ICP token holders will participate in the governance of the Internet Computer network and jointly decide the development direction of the network. Through advanced encryption technology, the Internet Computer project attempts to build a decentralized, secure and efficient global computing network.
Club Recent Situation Review
ACRE
As a small-cap token with only spot but no contracts on Binance, the club is very optimistic about this type of target.
At the same time, AKRO has recently proposed a new roadmap and updated the new economic model, further intensifying the club's layout.
When AKRO was at 0.00477, the club recommended opening a position, and then it began to rise straight up to 0.0085, which was a 90% increase from the club's recommended position, nearly doubling. It is currently stable at 0.007, also a 50% increase.
ARKO has successfully topped the Binance growth list. Anything produced by Wujie must be a high-quality product.
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