If you missed the $ETH 🚀
Dont fomo in now, recent history shows we could see great entries in the weeks to come.
Rewind to Jan 10th 2024, the $BTC ETF was approved🥳, Fomo was opening 100x long leveraged positions with dreams of Champagne, Yachts and beautiful models off their $100 investment.(It didnt go well)
The days after were a bloodbath for leveraged longs as bitcoin price dropped and dropped, dropping over 10k(20%) in the following 11 days.
There was a reason for this and it will happen again with $ETH .
*I will try keep this simple.*
Before the BTC approval, Grayscale had a Bitcoin Trust.
The Grayscale BTC trust was backed by its underlying asset, Bitcoin, it allowed investors to buy shares of the Grayscale trust and have partial ownership of the underlying asset( Bitcoin) through their brokerage accounts.
When the Bitcoin ETF was approved the underlying asset(Bitcoin) became available for clients to sell, and sell they did!
The exact same sittuation is happening with ETH, Grayscale ETH Trust currently holds $10 Billion worth of ETH, should the ETF be approved this will become liquid and could hit the market.
Want some advise,
Firstly we have no clear indication when the final(S-1) ETF approval could happen,it could be days or up to 90 days.
I expect it will happen sooner rather than later as this was a political move.
If you dont own ETH and want to be involved, now is the time to wait, when the approval happens, set a buy order at 15-20% less what the price is and wait for it to be hit, it might drop a little more but in the following months you will have an amazing entry.
Please dont rush into leverage longs because of this ETF news, recent history and $10 Billion of liquidity waiting to be sold should be enough warning to you.
As i said i have no idea when this final approval could happen, this post might be 2 months early for all i know, regardless now you know what you are facing when the approval happens.
If this was helpful please give it a like😊
Peace