Ethereum

2024

BitOoda founder Vivek Raman, a former Wall Street trader, predicted a bull future for Ethereum (ETH) in the second half of 2024. According to Raman, three important factors holding ETH back are about to turn into positive winds starting this week.
The first factor is the launch of ETH ETFs, which Raman believes will enable new capital to enter the Ethereum ecosystem. “Crypto has largely been a closed loop; the barriers to entry are still very high,” Raman said.
<blockquote>
 “As a result, over the last 2 years we have only seen capital rotation between cryptocurrencies, which is a zero-sum situation.”
</blockquote>
Raman pointed out that retail investors prefer to invest passively and institutions want to invest only after regulatory clarity. According to the analyst, the ETH ETF will unlock new inflows from both in one fell swoop. “Following the launch of the BTC ETF, there was $17 billion (and counting) of new capital inflows. ETH is next,” Raman added.
The second factor is the end of the regulatory witch hunt against ETH. Raman criticized U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler for firing as many bullets as possible into the Ethereum ecosystem and missing. “Ethereum has been under investigation since the Merge, making the asset a radioactive substance for institutions,” Raman said.
Related News: <a href="https://en.bitcoinsistemi.com/bernstein-claims-cryptocurrency-market-isnt-pricing-in-donald-trump-reveals-details/" target="_blank" rel="noopener noreferrer nofollow">Bernstein Claims Cryptocurrency Market Isn't "Pricing In" Donald Trump, Reveals Details</a>
However, with the ETH ETF approval, the period of regulatory limbo is over. ETH is now a commodity, tokenization on ETH is now de-risked, and the lawsuit against Consensys and “Ethereum 2.0” has been dropped. “New applications and innovation can finally flourish on ETH,” Raman said.
The third factor is the changing macro landscape, which is about to favor riskier assets. Raman explained that the market has survived the fastest wave of interest rate hikes and monetary tightening since the 1970s for about two years.
Raman concluded by saying that political sentiment towards crypto, which has been shamelessly hostile for years, is changing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/wall-street-trader-says-im-bullish-on-ethereum-lists-3-reasons/" rel="noopener noreferrer nofollow">Wall Street Trader Says, “I’m Bullish on Ethereum,” Lists 3 Reasons</a>

Wall Street Trader Says, “I’m Bullish on Ethereum,” Lists 3 Reasons

Bitcoin Sistemi EN

Egyéb ezen a dátumon (2024. júl. 23.) megosztott cikkek

ETH ETFs Approved! Meaning For Investors & Cryptocurrencies

US House of Reps Passes Bipartisan Legislation to Combat Use of Crypto for Illicit Financial Acti...

ETH Trust Fund scam: How $2 million vanished overnight

Solana Analysts Agree SOL Price Next Direction Is Up – Key Levels to Watch

Koreans trade MEW meme token more than Bitcoin (BTC)

Unify Platform AG and IKAR Holdings Forge Partnership to Revolutionize Crypto Market

Join our free newsletter for daily crypto updates!