Crypto Kaleo Cryptocurrency Analyst explained why he believes Bitcoin will continue to outperform Ethereum in the low term. He claimed this based on his belief that Spot ETFs Ethereum will not have the immediate impact on the price of ETH that many expect.
Bitcoin will still outperform Ethereum for now
Crypto Kaleo stated on X (formerly Twitter) fasting that he doesn’t believe the hype surrounding the launch of the Spot Ethereum ETF next week will lead to Ethereum surpasses BitcoinInstead, he predicts ETH will fall against the Bitcoin pair next week. He noted that the hype surrounding the launch of the Spot Ethereum ETF is justified, but suggested that it won’t cause Ethereum to surpass Bitcoin “until a few months down the road.”
Cryptocurrency analysts such as Michael van de Poppe previously predicted that these Spot Ethereum ETFs would lead to massive moves in Ethereum, while also suggesting that these funds could kick-start altcoin season as Ethereum and other altcoins outperform Bitcoin. Cryptocurrency analyst Linda also has Planned that these Ethereum ETFs will soon drive the price of ETH to $4,000.
Crypto Kaleo, however, suggested that the market should not have too much hope for an immediate price boost, as these Ethereum Spot ETFs starting next weekA cryptocurrency analyst raised the possibility of this launch following the same instructions and as a different one news selling eventHe suggested this would likely be the case, stating that such events often happen this way.
Crypto Kaleo believes there is no reason to worry if the launch of the Spot Ethereum ETF turns out to be another “sell the news” event. He noted that such a development would be an “absolute boon” for those who are truly positive about this market cycle. He added that the market is still headed “significantly higher” from this point and that market participants may need a little more patience before “the fun really starts.”
There is no doubt about Ethereum’s positive outlook
Based on the predictions of several cryptocurrency analysts such as Tyler Durdenthere is no doubt about the bullish outlook of Ethereum. The crypto token is expected to rise significantly higher towards the latter parts bull run.Durden he suggested that Ethereum’s rise to $10,000 is inevitable and attributed this parabolic price rally to Ethereum Spot ETFs.
Altcoin Daily cryptocurrency analyst also previously found that Ethereum’s rise to $10,000 is “programmed” and highlighted the Spot Ethereum ETF as one of the reasons why the second-largest cryptocurrency by market capitalization will see such price increases. The Spot Ethereum ETF is expected to attract novel money into the Ethereum ecosystem, which will facilitate drive up the price of ETH.
Bitwise Chief Investment Officer (CIO) Matt Hougan recently foreseen that these funds could attract as much as $15 billion in their first month of trading. Meanwhile, research firm K33 Planned that these funds could raise as much as $4.8 billion in their first five months of operation.
Featured image created with Dall.E, chart from Tradingview.com
