Is Ether (Ethereum) Exploding, Stop or Again? Stock Exchange Board
Ether (Ethereum) has been sparking lately. Since the last analysis published by Capital in Momentum (an investment letter) and 21Millions (a newsletter devoted to cryptocurrencies), the prices of bitcoin’s main rival and the queen of cryptocurrencies have both increased by 27%. two weeks. Our expectation of an explosion in price volatility has come true spectacularly…
And the next few months could remain very busy, especially since the underlying bearish trend in the ether is not yet in doubt (at least at this stage) and there are major events on the agenda for the first quarter. Vincent Boy, market analyst at IG France, notes that after The Merge, ether may experience some volatility due to the next major update (Shanghai), which will see the release of 16 million ether in March. However, he judges that once the doubts are behind us, we can consider an outperformance of ether against bitcoin, which is a scenario that Capital likes, especially based on technical analysis.
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Aside from the rise in ether and bitcoin prices since the end of 2022, which has led more crypto investors to hope that the medium-term bearish trend will end and recover in the long term, Vincent Boy said that “optimism is too fast” and the euphoria for the end of the bear market is “still it’s very big.”
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Especially “big hands” (investors with more than 1,000 bitcoins – nicknamed “whales” – continue to be skeptical about the scenario of a continuous recovery of cryptocurrency prices and “keep selling bitcoins” to “weaker hands” (more modest individual investors)), IG notes that “whales” a priori wait for a new bearish sequence or even a market capitulation (a sudden drop in prices against the background of high transaction volumes) before expecting a gradual and sustained recovery of the bull market. .
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In addition, the shock associated with the scandals of 2022 (Luna, Celsius, FTX, etc.) continues to produce results. Closely “monitored” by the situation with Genesis and Gemini and the resulting influence of DCG, the IG notes that Binance, although stronger than FTX, is not immune to the liquidity problem…
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Find our updated and full analysis of the broadcast on Momentum and 21Millions from Friday 20th January. Momentum helps readers identify entry (buy) and exit (sell) points in stocks (and major cryptocurrencies). Discover numerous analyzes (economic, financial and technical), our price trend forecasts (medium or short-term expectations), the main news you need to remember… Every morning in your email inbox. And right now, take advantage of a free trial month with promo code CAPITAL30J. To subscribe, just click on the link below.
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Author’s declaration of interests
