Ethereum Bitcoin Killer after Ethereum ETF
On Oct 22, 2015, before 8 years ago this coin was trading at $0.4209 and after 6 years ago on Nov 16, 2021, it was trading at $4,891.70 almost 1162161.90%. This coin is none other than Ethereum. Till now, ETH has gain immense success and made many people millionaire. Ethereum is the 2nd largest cryptocurrency after bitcoin and its market dominance is almost 17%.
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. In 2022, Ethereum plans to switch to proof-of-stake with its Ethereum 2.0 update.
After the ETF approval of Bitcoin, which proved as immense success in the world of crypto and Bitcoin made all time high of $73800 before 2024 halving, the road is clear for Ethereum ETF which will bring huge success for ETH. Many people are predicting that it will surpass even Bitcoin.
Here are Some reasons that I believe can make Ethereum as Bitcoin killer after ETF approval.
1.Increased Accessibility: ETFs make it easier for investors to gain exposure to Ethereum without needing to directly purchase and store the cryptocurrency themselves. This increased accessibility could attract more investors.
2.Institutional Investment: Many institutional investors, such as pension funds and hedge funds, may be able to invest in ETFs due to regulatory approval.
3.Market Sentiment: The approval of an Ethereum ETF could signal to the market that regulators are becoming more comfortable with cryptocurrencies. This could boost investor confidence and sentiment in Ethereum.
4.Speculative Trading: The availability of an Ethereum ETF could attract speculative traders looking to profit from short-term price movements. This increased trading activity can create volatility in the Ethereum market and potentially lead to price pumps.
