Ethereum

Rally

Bitcoin ETF

Time

<p>The post <a href="https://coinpedia.org/news/eth-price-rally-time-for-ethereum-to-take-over-predicts-economist-alex-kruger/" rel="noopener noreferrer nofollow">ETH Price Rally : Time For Ethereum To Take Over – Predicts Economist Alex Krüger</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In a notable market analysis, economist Alex Krüger suggests a significant shift in investor interest from Bitcoin to Ethereum. According to Krüger Bitcoin’s growth potential has reached a limit, leading Ethereum to take the lead.</p>
<p>Krüger observes that the ETH/BTC trading pair has rebounded from the crucial level of 0.0479, indicating a potential market bottom. As of the latest data, Bitcoin is trading at $45,783, a slight increase over the past 24 hours. Ethereum could rally significantly as a result of the approval of a spot market Ethereum ETF, he anticipates.</p>
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   <p lang="en" dir="ltr">Fake ETF news showed <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> upside is clearly capped until we see actual ETF inflows. <br><br>Time for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> to take over.</p>— Alex Krüger (@krugermacro) <a href="https://twitter.com/krugermacro/status/1744837234694754647?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 9, 2024</a>
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<h2 class="wp-block-heading" id="h-optimistic-stance-on-ethereum-nbsp"><strong>Optimistic Stance on Ethereum&nbsp;</strong></h2>
<p>Several factors contribute to the perceived bottom for the ETH/BTC pair, including a narrative shift from Bitcoin ETF to Ethereum ETF, upcoming events such as the EigenLayer airdrop, a chart signaling a 50% correction with a fakeout of the 2022 lows, as well as an overarching sentiment of extreme pessimism.</p>
<h2 class="wp-block-heading" id="h-market-dynamics"><strong>Market Dynamics</strong></h2>
<p>A pivotal player in the January market landscape is Ethereum’s Dencun upgrade, featuring Ethereum Improvement Proposals (EIPs) like EIP-4844. In line with Krüger’s insights, the Ethereum market is poised for a 50% surge, enhancing its position in the crypto space by introducing “data blobs” to reduce Layer 2 transaction fees.</p>
<p>A strategy that has proven successful amid recent market fluctuations is longing for Bitcoin in anticipation of the spot market approval of Bitcoin ETFs. The impact of a potential sell-the-news event following a spot Bitcoin ETF approval seems to have diminished despite a recent dip in the crypto market.</p>
<p>While acknowledging reduced odds of a sell-the-news event, Krüger highlights that Bitcoin futures open interest remains high on the Chicago Mercantile Exchange (CME), suggesting persistent concerns about price volatility. Following the substantial leveraged sell-off earlier this week, the likelihood of such an event has lowered.</p>

ETH Price Rally : Time For Ethereum To Take Over – Predicts Economist Alex Krüger

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