All you need to know:
Starting from today, all eyes are on the shining bull $ETH. Something and a promise I gave when called ETH first at $80 in 2020 and promised a bright future for ETH, following the bottom call at $900 in 2022 and the legendary call at $1500 in 2023, including the most recent signal at $2800 during the latest dump two weeks ago. Yes, we are well prepared and you can be more than happy because ETH is about to have a huge parabolic move this year, more in this report.. While many anticipate a correction due to the "sell the news" phenomenon, I’m doubting into that narrative. The market may have already factored in the ETF launch, but it hasn’t yet considered the massive inflows of USD that will flood into the ETF. If the same level of USD that’s flowing into Bitcoin ETFs finds its way into Ethereum, the impact on ETH’s price will be 209% greater compared to Bitcoin. This is because Ethereum’s market cap is three times smaller than Bitcoin’s. To make it easy, every dollar invested in ETH has three times the price impact compared to Bitcoin.
Regarding Bitcoin dominance, the moves are aligning perfectly. Ethereum is not showing a bullish trend against Bitcoin on the chart, but I can tell you that I expect a breakout soon from the downtrend against BTC since September 2022, while altcoins have undergone an important three-month correction, dumping as much as 35% in total market cap. However, we’ve seen a strong reversal exactly as anticipated in my Q3 altcoin report from a few weeks ago. Meanwhile, Bitcoin dominance is starting to show signs of its first corrective moves. While many on Twitter have repeatedly called for an "altseason", since years, its now a good time that ETH will lead altcoins in the coming months. So far, what we’ve seen is a Bitcoin-led pump that has pumped altcoins along to the upside. Until now, Bitcoin has been the dominant force in this market. But ETH dominance is loading.
The grayscale sell pressure is exactly the same event as the BTC ETF, however the Grayscale ETH will face much less in selling pressure than what we have seen for BTC. A lot can happen in the first week, it’s important to watch mid-small time frame, means process after 2-3 weeks, the same time BTC needed to show us the first signs of the ETF inflows. Remember that BTC corrected 20% after the ETF launch and needed 10 days to bottom out. However, and this time I dont expect to see a "Big correction" in this scale for ETH.
For my targets I expect $10,000 - $14,000 within one year from today. Its also the region I will start to sell my ETH I have bought between $80 and $2800.. Updates/ signals will be given in premium as always. https://t.me/DrProfitPremium
Conculsion: Dont get affected by short term price manipulation. Market makers, especially grayscale WILL cause sell pressure to ETH, but it will be short-lived and the exact same scenario we have seen for BTC. Possible sideway with correction, first effects of ETH inflows will be seen 2-3 weeks after the launch from today. It makes sense to prepare accordingly and not panic sell if grayscale decides to sell, but rather I prefer to buy and I will add more in the mentioned regions if market allows to visit these targets. The current way of thinking isnt the danger of a crash, but rather the thinking of "What are the best entries for me, to add more ETH"... Keep an eye on the MA200 daily on the chart.
Expected targets:
Q3 2024: $4500 - $5500
Q4 2024: $5500 - $8000
Q1 2025: $5500 - $8000
Q2 2025: $8000 - $14,000
Thanks for reading.