🔍 Market Insights:
Even if the gods come, they can't stop the hype of Ethereum ETF and the competition of the altcoin ecosystem! Don't despair, bulls. The next low point or the rumor of the approval of the Ethereum ETF will be an excellent opportunity to turn around.
Various Ethereum news should be released next week or today. Once the ETF is approved, it will not be difficult to break the previous high. Recently, a BTC whale sold 140 million US dollars of BTC and bought 140 million US dollars of Ethereum-related tokens. As time goes by, this trend will become more and more obvious. Bitcoin's profit-taking is more like a good thing for the market. In the last bull market, the market started when Bitcoin's market share was as high as 64%, and this round of market started after the market share dropped by 8 percentage points. Obviously, Bitcoin's influence is declining. This is the data before Ethereum was recognized. Once the Ethereum ETF is approved, it will establish compliance standards for altcoins and release a huge wealth effect. Bitcoin profit-taking is a normal phenomenon, and Bitcoin holders will also be shaken in their views on cryptocurrencies by the approval of the Ethereum ETF.
The sell-off by Mt. Gox and the German government is what Bitcoin holders need to worry about, not Ethereum and other altcoin holders. We should look forward to the passage of the first altcoin king, Ethereum ETF
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