Ethereum price is ready to go, will the launch of ETF be a booster?
The cryptocurrency market has continued its recent correction trend, with both Bitcoin (BTC) and Ethereum (ETH) prices under pressure to fall. Note that ETH has been relatively strong recently, falling only 3.5% on the weekly chart, while BTC has fallen 5.8% during the same period.
After in-depth analysis, the wealth of the ETH/BTC trading pair is expected to make a major breakthrough before the upcoming spot exchange-traded fund goes online.
Several analysts are optimistic about the prospects of Ethereum (ETH):
Cryptocurrency analyst Ali Martinez pointed out that ETH/BTC's breakthrough of the 365-day moving average is an early signal of the upcoming Altcoin Season.
Cryptocurrency analyst Michael van de Poppe believes that the bull market capacity will further accelerate if the ETH price breaks through the 0.06 BTC mark.
Analysts are optimistic that the launch of the Ethereum ETF will bring a lot of funds to Ethereum. Poppe bluntly stated that the Ethereum ETF is a major event that has been underestimated and underestimated this year.
Unlike the launch of Bitcoin ETF, the approval process of Ethereum ETF is relatively low-key. Poppe believes that this may bring unexpected surprises. Due to the large amount of ETH being staked and Ethereum's own deflation mechanism, Ethereum has less circulating supply than Bitcoin, so the potential impact of Ethereum ETF may be greater.
Poppe expects that the rise in ETH/BTC prices will benefit the entire Ethereum ecosystem, attracting more users, liquidity and developers to join. He also pointed out that the altcoin cycle usually performs weakly in the first half of the year, but will usher in a reversal in the second half of the year, bringing more profit opportunities to investors.
Risks and opportunities coexist in the currency circle. If you haven't found the right team and leader yet, click on the avatar to view the top to find me, and share dry goods and strategies with you. Remember, opportunities are always reserved for those who are prepared.