Ethereum Explosive Growth Newsletter
Ethereum Explosive Growth Newsletter: Why ETH is Set to Soar Beyond $8,000 (Open For All)
Ethereum Explosive Growth: Why Ethereum is Ready to Lead the Altcoin Rally
Welcome back to another edition of The Crypto City Trading Newsletter, your go-to source for in-depth technical analysis and expert insights into the dynamic world of cryptocurrency trading. Today we are focusing on Ethereum.
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Now moving towards the analysis.
We’re ready and excited because Ethereum (ETH) is expected to have a big upward move this year. Many people think there might be a price drop because of the “sell the news” effect, but we don’t agree. If the same amount of USD that is going into Bitcoin ETFs goes into Ethereum, ETH’s price could increase more than Bitcoin’s because Ethereum’s market cap is three times smaller. This means each dollar invested in ETH has three times the impact on its price compared to Bitcoin.
When it comes to Bitcoin’s dominance, things are looking good. Ethereum isn’t showing a strong trend against Bitcoin right now, but we expect a breakout soon from the downtrend that started in August 2022.
Altcoins have dropped about 33% in total market cap (Total 2) from March 2024. However, Bitcoin’s dominance is starting to show signs of correction. It’s a good time for ETH to lead altcoins in the coming months. So far, Bitcoin has been the driving force in the market, but ETH dominance is increasing.
The Grayscale sell pressure for ETH will be similar to what we saw with the Bitcoin ETF, but there will be less selling pressure for ETH. In the first week, it’s important to watch the short-term trends, like what happened with Bitcoin, which showed the first signs of ETF inflows after a few weeks and corrected by 20% after the ETF launch, taking a few days to stabilize. However, we don’t expect a big correction like that for ETH this time.
We expect ETH to reach $8,000 — $12,000 within a year, which is when we’ll start selling our ETH.
Don’t be affected by short-term price manipulation. Market makers, especially Grayscale, is causing sell pressure on ETH, but it will be short-lived, similar to what happened with Bitcoin. The first effects of ETH inflows will be seen a few weeks from the launch date. It’s important not to panic because Grayscale starts selling. Instead, consider buying more ETH if the market reaches our target levels. The focus shouldn’t be on the risk of a crash, but rather on finding the best opportunities to buy more ETH.
Conclusion
Ethereum has the potential to rise significantly, potentially reaching $8,000 or $12,000. Because of its smaller market capitalization, ETH’s price might be affected three times by the influx of investments similar to Bitcoin ETFs, even in the face of short-term sell pressure. Ethereum is a formidable competitor since Bitcoin’s supremacy appears to be correcting, given its growing dominance and impending breakthrough. In order to position themselves for significant gains, traders should concentrate on long-term opportunities and think about adding additional ETH during temporary drops in markets.
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