Pseudonymous trader and analyst Roman has made a bold prediction regarding eth Pricesuggesting that investors should reduce their short-term expectations. This comes amid a drop in hype around the ethereum-spot-etfs-trading/#:~:text=Bloomberg%20analyst%20James%20Seyffart%20has,approval%20would%20come%20this%20week.” rel=”nofollow”>ethereum Spot ETFand these funds are currently experiencing significant outflows.
What to expect from the eth price
Roman mentioned during a bitcoin-price-prediction-ethereum-altcoins-crypto-trader-roman-hall-of-flame-cointelegraph/?” rel=”nofollow”>interview with Hall of Flame not seeing ethereum “performing all that well” over the next few months. The analyst believes eth will suffer a similar fate to the rest of the cryptocurrency market like bitcoin absorbs all the liquidity While altcoins continue to trade sideways due to this.
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As such, Roman does not expect the price of eth to enjoy any parabolic rally until traders begin to rotate their capital from bitcoin to altcoins, with ethereum ethereum-breakout/” rel=”nofollow”>He will probably lead the group when that time comes. The analyst also noted that this period will likely come when traders think bitcoin is at or near its level. bitcoin-price-past-halving-cycles/” rel=”nofollow”>top of the market.
The analyst highlighted the period in 2020 where ethereum “didn't really do well” until bitcoin-to-40000-blockstream-ceo-tackles-mt-gox/” rel=”nofollow”>The flagship cryptocurrency hit $40,000He noted that the price of eth is down 80% from its all-time high (ATH), while bitcoin broke ATH. In fact, ethereum is currently suffering a similar fate. bitcoin hit a new ATH earlier this year, while eth is down over 33% from its current ATH of $4,890.
Meanwhile, Roman explained how ethereum will rise from the ashes when bitcoin is almost or already at its peak. He stated that when bitcoin starts to experience a significant price correction, after reaching a ethereum-will-trade-for/” rel=”nofollow”>Target price of $120,000bitcoin traders are taking profits and rotating them into ethereum and other altcoins.
Interestingly, the crypto trader suggested that ethereum’s success is highly dependent on bitcoin. He claimed that the flagship cryptocurrency needs to keep breaking new highs and go much higher for money to flow into eth and other altcoins. Meanwhile, Roman believes that the liquidity shift will happen before the end of the year.
How much money could flow into ethereum spot ETFs?
Expectations for spot ethereum ETFs have since diminished ethereum-spot-etfs-trading/#:~:text=Bloomberg%20analyst%20James%20Seyffart%20has,approval%20would%20come%20this%20week.” rel=”nofollow”>They started trading On July 23, analysts such as Sygnum Bank's research director Katalin Tischhauser suggested that ethereum-etfs-record-341-million-net-outflow/” rel=”nofollow”>tickets Income from these funds may be lower than expected.
Table House ethereum-spot-etf-yearly-inflows-could-be-as-low-as-15-of-bitcoins-sygnum-bank-analyst-says?utm_source=rss&utm_medium=rss” rel=”nofollow”>said The block that spot ethereum ETFs could witness is as low as 15% of bitcoin flows, with around $5 flowing into these funds in their first year of operations, while $30 billion flows into the bitcoin-etfs-900000-btc/” rel=”nofollow”>bitcoin Spot ETF.
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The analyst made this prediction based on the “lower name recognition of ethereum” and the market cap of eth compared to bitcoin, suggesting that ethereum Spot ETF It will likely see lower adoption and lower liquidity.
These ethereum Spot ETFs have seen significant net outflows since they began trading thanks to Grayscale ethereum Trust (ETHE)However, these funds broke this streak of net outflows on July 30, with x.com/FarsideUK/status/1818493784943923219″ rel=”nofollow”>data from Farside Investors showing that they recorded a net inflow of $33.7 million.
Featured image created with Dall.E, chart from Tradingview.com
