crypto Kaleo Cryptocurrency Analyst has explained why he believes bitcoin will continue to outperform ethereum in the near term. He made this statement based on his belief that the ethereum Spot ETF will not instantly have the impact that many expect it to have on the price of eth.
bitcoin will continue to outperform ethereum for now
crypto Kaleo is indicated by an x (formerly twitter) x.com/CryptoKaleo/status/1814001396758528194″ rel=”nofollow” target=”_blank”>mail who does not believe that the hype around the launch of ethereum Spot ETFs next week will lead to ethereum/ethereum–crypto-analyst-1900/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.” rel=”nofollow noopener” target=”_blank”>ethereum Overtakes bitcoinInstead, he predicts that eth will fall against its bitcoin peer next week. He noted that the hype around the launch of ethereum spot ETFs is justified, but suggested that they won't cause ethereum to outperform bitcoin “until a couple of months later.”
Cryptocurrency analysts like it Michael Van De Poppe had previously predicted that these ethereum Spot ETFs would lead to massive moves for ethereum while also suggesting that these funds could boost altcoin season as ethereum and other altcoins outperform bitcoin. Cryptocurrency analyst Linda has also ethereum/ethereum-price-headed-to-4000/#:~:text=crypto%20analyst%20Linda%20has%20made,to%20such%20a%20price%20surge.” rel=”nofollow noopener” target=”_blank”>foretold that these ethereum ETFs will send the price of eth to $4,000 very soon.
However, crypto Kaleo suggested that the market should not get too hopeful about an immediate price increase as these spot ethereum ETFs launching next weekThe cryptocurrency analyst raised the possibility that this launch follows the same scheme and is another news sale eventHe hinted that this would likely be the case, stating that such events often happen that way.
crypto Kaleo believes there is no need to worry if the launch of ethereum spot ETFs turns out to be another event that serves to sell the news. He commented that such a development would be an “absolute gift” for those who are truly bullish on this market cycle. He added that the market is still headed “much higher” from here and that market participants might need a little more patience before “the fun really begins.”
There is no doubt about ethereum's bullish outlook
Based on predictions made by various cryptocurrency analysts such as Tyler DurdenThere is no doubt about ethereum's bullish outlook. The crypto token is expected to rise much higher in the later parts of The confinement.Durden ethereum/ethereum-price-to-hit-10000/” rel=”nofollow noopener” target=”_blank”>He suggested that ethereum's rise to $10,000 is inevitable and attributed this parabolic price rise to ethereum Spot ETFs.
Cryptocurrency analyst Altcoin Daily also already indicated that ethereum’s surge to $10,000 is “on schedule” and highlighted ethereum spot ETFs as one of the reasons why the second-largest cryptocurrency by market cap will enjoy such price gains. ethereum spot ETFs are expected to bring new money into the ethereum ecosystem, which will help boost the price of eth.
Matt Hougan, Chief Investment Officer (CIO) at Bitwise ethereum/bitwise-cio-spot-ethereum-etfs/” rel=”nofollow noopener” target=”_blank”>Recently predicted that these funds could attract up to $15 billion in their first month of trading. Meanwhile, research firm K33 foretold that these funds could attract up to $4.8 billion in their first five months of operations.
Featured image created with Dall.E, chart from Tradingview.com
