Crypto analyst Crypto Kaleo has explained why he thinks Bitcoin will continue to outperform Ethereum in the short term. He made this claim based on his belief that the Spot Ethereum ETFs will not have the immediate impact on the price of ETH that many expect.
Bitcoin Will Continue to Outperform Ethereum for the Time Being
Crypto Kaleo stated in an X (formerly Twitter) after that he doesn’t believe the hype surrounding the launch of the Spot Ethereum ETFs next week will lead to Ethereum Outperforms Bitcoin. Instead, he predicts that ETH will fall against its Bitcoin pair next week. He noted that the hype surrounding the launch of Spot Ethereum ETFs is justified, but suggested that they won’t cause Ethereum to surpass Bitcoin “until a few months down the road.”
Crypto analysts find Michael van de Poppe had previously predicted that these Spot Ethereum ETFs would lead to huge moves for Ethereum, while also suggesting that these funds could provide a boost altcoin season as Ethereum and other altcoins outperform Bitcoin. Crypto analyst Linda also has predicted that these Ethereum ETFs will soon push the price of ETH to $4,000.
However, Crypto Kaleo indicated that the market should not be too hopeful for an immediate price surge as these Spot Ethereum ETFs launch next weekThe crypto analyst raised the possibility that this launch would follow the same playbook and be a different one sell-the-news-eventHe indicated that this would likely be the case, as these types of events often play out this way.
Crypto Kaleo believes there’s no reason to worry if the launch of Spot Ethereum ETFs turns out to be yet another sell-the-news event. He noted that such a development would be an “absolute gift” for those who are truly optimistic about this market cycle. He added that the market still has “much higher to go” from here and that market participants may just need a little more patience before things “get really fun.”
No doubt about Ethereum’s optimistic outlook
Based on predictions made by various crypto analysts such as Tyler DurdenThere is no doubt about Ethereum’s bullish outlook. The crypto token is expected to surge much higher in the latter parts of the running of the bulls.Durden suggested that Ethereum’s rise to $10,000 is inevitable and attributed this parabolic price increase to the Spot Ethereum ETFs.
Crypto analyst Altcoin Daily too Previously mentioned that Ethereum’s rise to $10,000 is “programmed” and highlighted the Spot Ethereum ETFs as one of the reasons why the second-largest crypto by market cap will enjoy such price increases. The Spot Ethereum ETFs are expected to bring new money into the Ethereum ecosystem, which will help boost the price of ETH.
Matt Hougan, Chief Investment Officer (CIO) of Bitwise recently predicted that these funds could raise as much as $15 billion in their first month of trading. Meanwhile, research firm K33 predicted that these funds could raise as much as $4.8 billion in their first five months of trading.
Main image created with Dall.E, chart from Tradingview.com