21/05/2024
This week is going to be one of THE MOST CRUCIAL in Ethereum HISTORY
In 2 days SEC will make a decision on the ETH ETF spot.
Here's everything you need to know about it π
Why it matters?
I won't tell you how it will affect the market but rather show some proof.
January 10, 2024.
The crypto market got the news - BTC ETFs are approved! And even 11 applications.
Keep in mind, on that day the price of this asset was $46k.
And after 2 months and 4 days, BTC reached its ATH - $73,750
Seems good to see +$27k in such a short period
And the same situation with Ethereum right now
During 24h the price of it rose from $3100 to $3700.
+20% IN A DAY!
What made it grow?
Positive news about SEC approval
A few days ago everyone was negative towards it.
Some Bloomberg ETF analysts even lowered their expectations from 70% to 25%
But everything was changed in a minute:
Eric Balchunas(Bloomberg Analyst) tweeted that he's changing his opinion on it.
NOW HE HAS INCREASED THE POSSIBILITY TO 75%
That was the reason why ETH made that big candle.
Still, that's only the predictions of financial analysts, but it already has changed the movement of Ethereum.
And what is more important - the mood of the market. A week ago everyone was negative about it.
But now it seems people are looking forward to the 23rd of May(current greed level - 76)
Since the official statement release has a high chance of making ETH break ATH as BTC did in March.
And go even higher!
PS: it doesn't only make ETH grow, but the market experiences a local bull run.
