Ethereum ETF approval. | Bitcointalksearch.org

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Quote from: X-ray on July 28, 2024, 11:09:11 PM

Quote from: betswift on July 26, 2024, 01:01:04 AM

Quote from: X-ray on July 25, 2024, 09:48:31 PM

I dare to say that this phase of "sell at the news" event is good for investing for anyone that's actually trying to find good entry price.

I just bought plenty of ETH @3100 and it's been quite great decision so far, but I already losing some money on my long position with 2x leverage so just want to even out the loss but i expect the price to get back to $3500 again just like how BTC back then when there were so many outflow the price tanked only for it to go back again after these fomo people done selling their BTC.

just remember that ETF is not a pump and dump event but to expose ETH to bigger capital.

Agreed! ETF is for big hands to be able to have some ETH for themselves in funds. I too think the ETH should go back to where it was or even a bit higher, but I would only go in the spot (when the price is 3000-3100ish, which it was recently), go into the long game and watch after the news.

price already rising again, it's the same pattern just like BTC all over again, tanking when BTC ETF is live because the whales are selling on the news, but it seemed even BTC right now is nearing $70k which helps quite a lot in growing the ETH as well.

i'm expecting ETH to go back at around $3500 level once BTC breakthrough $70k since it just means that there's bigger chance for the market to pump BTC again beyond $74k which is previous ATH and we will see massive jump in the price like 2020 again.

history will repeat itself

.

I agree! We should wait out and be patient, as there are many factors in place, and the rush is not needed. Big hands will get what they want from the dips that happen now (because of those who already put their investments on futures long on ETH), but this won't be forever, as you said with the moves from Bitcoin we should be able to see ETH on the pump.

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The outflow definitely shocked me, I mean it is obvious that we didn't expect as much money going into ETH as it was going into BTC, but at the same time I personally did not expected ETH to have outflow that is higher, and that does scare me a bit.

Like it could start to mean that we are getting tired of the ETF stuff already, there should have been some hype and it should have seen a lot longer profit period where a lot of people put a lot of billions into it. Just recently started and we are already having people going out? Like it is such a new thing is, it is not really reasonable to sell it already, when did you end up buying and when did you end up selling when you think about it that way, feels weird.

In the end, market will do whatever market wants to do and I guess we have to just face that and accept the situation, not really anything else we can do about it. I really want to see it grow something else, but that doesn't really feel like the case at this moment. What we can have however is the situation where things going to be a little different and because of that we could make it change, like we could have some sort of reasonable approach in the future with a slower growth.

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Quote from: betswift on July 26, 2024, 01:01:04 AM

Quote from: X-ray on July 25, 2024, 09:48:31 PM

I dare to say that this phase of "sell at the news" event is good for investing for anyone that's actually trying to find good entry price.

I just bought plenty of ETH @3100 and it's been quite great decision so far, but I already losing some money on my long position with 2x leverage so just want to even out the loss but i expect the price to get back to $3500 again just like how BTC back then when there were so many outflow the price tanked only for it to go back again after these fomo people done selling their BTC.

just remember that ETF is not a pump and dump event but to expose ETH to bigger capital.

Agreed! ETF is for big hands to be able to have some ETH for themselves in funds. I too think the ETH should go back to where it was or even a bit higher, but I would only go in the spot (when the price is 3000-3100ish, which it was recently), go into the long game and watch after the news.

price already rising again, it's the same pattern just like BTC all over again, tanking when BTC ETF is live because the whales are selling on the news, but it seemed even BTC right now is nearing $70k which helps quite a lot in growing the ETH as well.

i'm expecting ETH to go back at around $3500 level once BTC breakthrough $70k since it just means that there's bigger chance for the market to pump BTC again beyond $74k which is previous ATH and we will see massive jump in the price like 2020 again.

history will repeat itself

.

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Ethereum boosts altcoins. So, the price of Ethereum going up will surely have a direct impact on other coins, just as Bitcoin price movements also impact Ether.
Although this might not happen immediately but as Ethereum keeps moving, some other altcoins will start to move faster.

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Quote from: Ojima-ojo on July 28, 2024, 04:41:15 PM

Quote from: nelson4lov on July 27, 2024, 05:54:47 PM

~Snipped

Is it not too early to expect anything as results of the recent Ethereum ETF?

Take for instance, when bitcoin ETF went live, it took sometimes before the actual reflection of that event on the bitcoin market, so I believe it is the same in the case with ethereum, infact it be harder since ethereum can not do any market movement to create all time high on it own, as it depends on bitcoin and the entire crypto market to see such a push up, so as we expect ethereum to increase in price in this time so also we should First expect to see bitcoin taking the leads.

For sure. It would take a while before we'll see the ETF reflect on Ethereum's market. While the inflows have been good, the outflows have been much more and have kept the pricing lower despite everything. The general concensus that I have heard from a lot of people in CT (I share the same sentiments too) is that, the same playbook with Bitcoin is being run again with ETH being the main character this time. And until Grayscale sells majority of the ETH it has, the price will get suppressed. It looks like that would be the case from now to the remainder of the month. Maybe we get some positive price movements in August, who knows.

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Quote from: nelson4lov on July 27, 2024, 05:54:47 PM

It's been almost of week since the Ethereum ETFas went live and the price is very much below the initial price it was prior to the actually listing. While the inflows have been great, the outflows have been it seem like the ETFs don't have any impact on Ethereum price sentiment. Bitcoin followed a similar path when it's ETFs went live first with a dump that was advertised as a "sell the news" event to breaking all time high. What I know for a fact is that Ethereum plays a vital role for all the other altcoin tokens in crypto right now.

Is it not too early to expect anything as results of the recent Ethereum ETF?

Take for instance, when bitcoin ETF went live, it took sometimes before the actual reflection of that event on the bitcoin market, so I believe it is the same in the case with ethereum, infact it be harder since ethereum can not do any market movement to create all time high on it own, as it depends on bitcoin and the entire crypto market to see such a push up, so as we expect ethereum to increase in price in this time so also we should First expect to see bitcoin taking the leads.

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Quote from: X-ray on July 25, 2024, 09:48:31 PM

Quote from: o48o on July 25, 2024, 06:50:38 PM

Never underestimate the power of "sell the news" event. So far every freaking time it's the same thing: people are preparing for the moon because of the rumor, or expected event, and no matter the fundamentals behind the event and what it should bring, too much is already priced in and people will short and sell way more than it makes sense. But markets were never about making sense, but about fear and greed in stereoids.

Give it time and it will have an effect, but how much time? That's impossible to predict.

I dare to say that this phase of "sell at the news" event is good for investing for anyone that's actually trying to find good entry price.

I just bought plenty of ETH @3100 and it's been quite great decision so far, but I already losing some money on my long position with 2x leverage so just want to even out the loss but i expect the price to get back to $3500 again just like how BTC back then when there were so many outflow the price tanked only for it to go back again after these fomo people done selling their BTC.

just remember that ETF is not a pump and dump event but to expose ETH to bigger capital.

I definitely agree that you made a good decision for waiting, even though it might drop more before rising, as it's impossible to time the bottom and i am certain you are making profit in the future. I rarely am so sure of anything, but buying eth now and later if it drops is something i would recommend to anyone. It always drop harder when people are afraid of sell the news event, because whale marketmakers that are speculators anticipate the drop and remove ton of their high buy orders. I know i would if i would be a whale. I would just slightly go and accumulate.

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We haven't seen any positive side for now, after the approval of Ethereum ETFs, even Ethereum experienced a decline, in fact the same thing happened with the BTC ETF, if the same scenario happens, we may see new increases in the future, I am walking around with a simple scenario in my head. Tokens and projects on the Ethereum chain will generally be affected by the ETF situation.

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Quote from: marlo1001 on July 28, 2024, 08:50:30 AM

I don't understand what wrong with eth. Even etf is not pushing it price. I just want to see how it growth...

It's all caused by The institutional investors having less interest in acquiring Ethereum. Then look at the Ethereum ETF table below.

There was too much outflow from Ethereum ETF. This shows that institutional investors prefer Bitcoin over Ethereum ETFs. This was the main cause of why Ethereum's price is stuck at this moment. Even Ethereum failed to prevent 7% dump after the launch of ETF. People are now selling their tokens after the news of ETH ETF already launched.

Ethereum has risen sharply after a rumor about an ETH ETF spread among crypto investors. It's time to hibernate and wait for another big rumor to come.

You said you wanna see Ethereum grow, then be patient for that moment to come soon.

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I don't understand what wrong with eth. Even etf is not pushing it price. I just want to see how it growth...

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I mean it was known beforehand that we would have less eth trading at ETF than btc, which is true in the crypto world as well, nothing shocking really. I just think that we need to make sure that we are dealing with something that will not be all that impossible to handle, ETH could get some more, the marketcap will grow, I am sure that it will go to 1+ billion soon enough, and will reach 100+ billion too one day, after bitcoin gets there first of course.

These are all possible because these are all big companies and a lot of ETF's and everyone will put their money in slow by slow, over years, and we will see that growth. That will be great for bitcoin and eth, and for all crypto currencies, because we are talking about something that will benefit us by all of these people buying and holding.

Not only they are increasing the price by buying, but they are also not dropping the price by selling, they are just holding. This is why I honestly think that the best thing to do right now would be just making sure that things are going steady and not have anything chaotic. If we can have that, keep having that like we had so far this year, then we are going to end up with something good.

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Quote from: nelson4lov on July 27, 2024, 05:54:47 PM

It's been almost of week since the Ethereum ETFas went live and the price is very much below the initial price it was prior to the actually listing. While the inflows have been great, the outflows have been it seem like the ETFs don't have any impact on Ethereum price sentiment. Bitcoin followed a similar path when it's ETFs went live first with a dump that was advertised as a "sell the news" event to breaking all time high. What I know for a fact is that Ethereum plays a vital role for all the other altcoin tokens in crypto right now.

After the approval of ETF Ethereum, Dao was likely to increase significantly, but the price remained where it was in the past. Currently dumping relatively, whenever this Ethereum ETF this institution holds enough ETH. They will immediately start selling Ethereum when the Ethereum price hits a future high.

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It's been almost of week since the Ethereum ETFas went live and the price is very much below the initial price it was prior to the actually listing. While the inflows have been great, the outflows have been it seem like the ETFs don't have any impact on Ethereum price sentiment. Bitcoin followed a similar path when it's ETFs went live first with a dump that was advertised as a "sell the news" event to breaking all time high. What I know for a fact is that Ethereum plays a vital role for all the other altcoin tokens in crypto right now.

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Quote from: Alpha Marine on July 24, 2024, 08:46:47 AM

In my opinion, like I said above, I don't think the impact is going to be that huge to affect bitcoin. Ethereum doesn't have the power to pull more investors to bitcoin. Just as Charles-Tim said, the market follows Bitcoin, but bitcoin doesn't follow any other coin. People don't invest in bitcoin because an altcoin is pumping, but people invest in an altcoin because bitcoin is pumping. When bitcoin price felt the impact of spot ETF approval, other coins started pumping as well. If Ethereum starts pumping, Investors will be drawn to it alone.

Feels like that could be wrong, but neither of us have any type of proof about this. I believe that ETH is such a big player in the altcoin world that it would decide on the movement, eth going down means all coins going down and eth going up means all coins going up. This of course isn't something we can provide proof, because when they go up they all go up, meaning that we do not know if it is eth, or bnb, or sol, or some smaller thing, obviously it is not some small cap token, but there is no proof that it is ETH.

I just think that there is also no proof that it is not ETH as well, it really doesn't matter to me what it looks like, we should be considering the situation a little different. I believe that we are going to end up with something greater, and that is why I think it is quite important to just focus on investing and profiting. If we do that, then it doesn't matter if it is ETH that impacts it, as long as it is impacted and we profit, the reason doesn't matter.

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Quote from: X-ray on July 25, 2024, 09:48:31 PM

Quote from: o48o on July 25, 2024, 06:50:38 PM

Never underestimate the power of "sell the news" event. So far every freaking time it's the same thing: people are preparing for the moon because of the rumor, or expected event, and no matter the fundamentals behind the event and what it should bring, too much is already priced in and people will short and sell way more than it makes sense. But markets were never about making sense, but about fear and greed in stereoids.

Give it time and it will have an effect, but how much time? That's impossible to predict.

I dare to say that this phase of "sell at the news" event is good for investing for anyone that's actually trying to find good entry price.

I just bought plenty of ETH @3100 and it's been quite great decision so far, but I already losing some money on my long position with 2x leverage so just want to even out the loss but i expect the price to get back to $3500 again just like how BTC back then when there were so many outflow the price tanked only for it to go back again after these fomo people done selling their BTC.

just remember that ETF is not a pump and dump event but to expose ETH to bigger capital.

Agreed! ETF is for big hands to be able to have some ETH for themselves in funds. I too think the ETH should go back to where it was or even a bit higher, but I would only go in the spot (when the price is 3000-3100ish, which it was recently), go into the long game and watch after the news.

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Quote from: o48o on July 25, 2024, 06:50:38 PM

Never underestimate the power of "sell the news" event. So far every freaking time it's the same thing: people are preparing for the moon because of the rumor, or expected event, and no matter the fundamentals behind the event and what it should bring, too much is already priced in and people will short and sell way more than it makes sense. But markets were never about making sense, but about fear and greed in stereoids.

Give it time and it will have an effect, but how much time? That's impossible to predict.

I dare to say that this phase of "sell at the news" event is good for investing for anyone that's actually trying to find good entry price.

I just bought plenty of ETH @3100 and it's been quite great decision so far, but I already losing some money on my long position with 2x leverage so just want to even out the loss but i expect the price to get back to $3500 again just like how BTC back then when there were so many outflow the price tanked only for it to go back again after these fomo people done selling their BTC.

just remember that ETF is not a pump and dump event but to expose ETH to bigger capital.

o48o

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Never underestimate the power of "sell the news" event. So far every freaking time it's the same thing: people are preparing for the moon because of the rumor, or expected event, and no matter the fundamentals behind the event and what it should bring, too much is already priced in and people will short and sell way more than it makes sense. But markets were never about making sense, but about fear and greed in stereoids.

Give it time and it will have an effect, but how much time? That's impossible to predict.

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Don't expect too much from such event as ETF or bitcoin halving, at least not in a short time bases, this will have effect on the price of ethereum but not on a fast track basis, because that is where people get it wrong, the cryptocurrency market works in a way that most of the most speculated events doesn't hold too much weight on the market, like for example, the bitcoin ETF approval in January was so much hyped and thought to be an automatic drive to bitcoin bull market, but the all time high came some months after the approval.
Same thing with Bitcoin halving event that took place somewhere in April 2024 also, we hard all the hype that the bitcoin halving is going to trigger another wave of bull market but up till now, we haven't seen any of such.
Same goes with this Ethereum ETF is the US let not expect anything out of the ordinary so that we won't be disappointed at the end of the day if nothing happens in the price of ethereum in uptrend direction after the approval.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

~

Well, it's down right now lol. I expect it to have some impact but not at the same level as Bitcoin did, if it can even have one (since Bitcoin ETF as well had no impact the day it was approved, or even a few months after it really). I highly doubt it'd go to $5k, it's in profit for the past 6 months so I don't think it'd go up by that big anymore even if the ETF had an actual effect. I'd bet more that it would stabilize itself at around $3k instead of going up.

And in general, it's still the Bitcoin market that sways alts so even with the ETF I don't think it'd be enough to affect the other coins.

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Quote from: Phemex on July 25, 2024, 03:31:32 AM

We have published a couple of ideas regarding the ETH ETF event on Trading View https://www.tradingview.com/chart/ETHUSDT.P/52AjDFZ7-Phemex-Analysis-8-Will-Ethereum-ETF-spark-a-Bullish-Run/.

In short, there are two main possibilities: Scenario 1: Bullish Run & Scenario 2: Continued Consolidation. Scenario 2 is more likely to be the better option, as it will allow entering the asset at lower prices, like $2800.

Thanks for sharing your thoughts! I too would stick with the second scenario, as the way I see it is that ETH can correlate a bit before going higher. We will see big hands trying to throw off those who already put their money on futures long on ETH and then rebuy what they dropped with a better price.

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We have published a couple of ideas regarding the ETH ETF event on Trading View https://www.tradingview.com/chart/ETHUSDT.P/52AjDFZ7-Phemex-Analysis-8-Will-Ethereum-ETF-spark-a-Bullish-Run/.

In short, there are two main possibilities: Scenario 1: Bullish Run & Scenario 2: Continued Consolidation. Scenario 2 is more likely to be the better option, as it will allow entering the asset at lower prices, like $2800.

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Quote from: Charles-Tim on July 23, 2024, 10:03:50 AM

Do not see ethereum as something like bitcoin because ethereum is also an altcoin like solana and BNB. Altcoins moves in the direction that bitcoin is moving, not that bitcoin moves in the direction that altcoins are moving. It is altcoins that is following bitcoin price to the same direction. As for the market to be follow ethereum, do not expect that.

I think I agree with this. I do think spot ETF would have an impact on the price of ETH, in the long run or short, but I don't believe that will have any impact on other coins or tokens in the Ethereum network simply for the reasons you mentioned. Ethereum is an altcoin that doesn't have the power to influence other coins.

Quote from: ungkuahmad on July 24, 2024, 01:37:24 AM

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. Even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

In my opinion, like I said above, I don't think the impact is going to be that huge to affect bitcoin. Ethereum doesn't have the power to pull more investors to bitcoin. Just as Charles-Tim said, the market follows Bitcoin, but bitcoin doesn't follow any other coin. People don't invest in bitcoin because an altcoin is pumping, but people invest in an altcoin because bitcoin is pumping. When bitcoin price felt the impact of spot ETF approval, other coins started pumping as well. If Ethereum starts pumping, Investors will be drawn to it alone.

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Quote from: ungkuahmad on July 24, 2024, 01:37:24 AM

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

From my thoughts, perhaps the impact will be a gradual movement in price increases for other coins.

I agree that it will be gradual, though first, in my opinion, big players will try to get off those who put lots of money on futures long positions, only then after some shaking, we will see ETH pumping slowly. So I would go only with spot positions in order to be safe. NFA.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

From my thoughts, perhaps the impact will be a gradual movement in price increases for other coins.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Clearly the approval create no hype this time for Ethereum or the general crypto market because it’s timing coincides the ongoing correction of crypto market.

If this happened in the past before Bitcoin approval then I believe it will create hype to the market but people view ETF approval as common thing since there’s already one. The current price of all crypto in general is still too high near the peak that’s why it’s very hard to continuously pump the market right now. We need a significant correction before we can experience a massive bullrun imho.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

~Snipped

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

For now, it has been a "sell the news" event. There were a lot of buying pressure that pushed the price from the $2811 recent low to as high as $3500. The inflows were more than 50% of the Bitcoin ETF inflows on day 1 so I'd say it's promising. The fact that the price hasn't lost the $3350 level during this high volatility period just shows that when sell pressure calms, we might see some upside swings. As for coins on ETH blockchain, not so much. Most altcoins have been sidelined for most of this bull run and only a select few tokens speculated as "eth beta" have actually moved to the upside.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH.

In short term, don't have that much. Long term, there is but let's see if the same impact it will do as how BTC ETF spot came in.

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

Also, will the approval have an impact it has on Bitcoin when it is approved?

Based on my observation before, this action from Ethereum are likely to have an impact but sometimes it doesn't have. Overall, it's going to have an impact entirely to ETH and its altcoinsdom.

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

No one will ever know until we get there. So, all now is just speculation but we've got some idea on how it will impact the actual market based on how the market reacted as per Bitcoin's spot etf trade opened.

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Very likely.

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Quote from: tsaroz on July 23, 2024, 12:23:51 PM

It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

I am not an expert in this field, but it seems to me that in both cases, Ethereum will benefit. Once it is accepted to treat Ethereum as an investment or financial product, it is a clear recognition of it. Then, after the US House of Representatives announced its approval of the draft cryptocurrency law after heading to the Senate, this legislation also means interference in the powers of the US Securities and Exchange Commission (SEC), especially in the classification process in which the body did not take into account the interest of the emerging market. .

Sinve then, Ethereum prices have rebounded on all platforms and are expected to rise further as the upcoming presidential elections approach, especially since both parties have begun to support the trend towards achieving a clear regulatory framework for cryptocurrencies and integrating them as a productive market.

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It unlocks capital that has thus far been inaccessible or unwilling to invest in Ethereum. Make no mistake, Spot ETFs are infinitely bullish for Ethereum. Just be patient but money will definitely flow into these ETFs will send the price much higher.

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Quote from: tsaroz on July 23, 2024, 12:23:51 PM

-snip-
It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

I'm also sure Ethereum will reach its highest point again, although it will take time, but seeing how a positive trend starts to emerge on Bitcoin maybe next year will be a new milestone for Ethereum and signal that Altseason will also begin.

Alt season depends on how Ethereum moves, and it will always be looked forward to.
So I don't think there is a need for theory too, just pay attention to when Ethereum breaks out against Bitcoin, maybe it's the first sign that the real altseason is about to begin.

And certainly a good strategy to do DCA, buy and hold from now on with the main goal of a new ATH next year.

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Quote from: moneystery on July 23, 2024, 12:05:38 PM

the market response is certainly different when ethereum etf is launched compared to when bitcoin etf is launched, the reason is because bitcoin is the most popular cryptocurrency globally, it is a pioneer, and more people are familiar with bitcoin compared to ethereum. also, bitcoin was the first cryptocurrency etf to be approved, and the market had been waiting for a bitcoin etf approval for a long time, so the market response was very positive when the bitcoin etf was approved by the sec.

as for ethereum etf, not many people are waiting for it and there is not as much interest in it as bitcoin, so the market responds differently when it is approved, and it will not have any effect on the price of bitcoin. i wouldn't even know this news if you didn't tell me.

It is likely that it will have a positive effect on the future, but as you state, those that were expecting for this to happen did not had to wait for long, so it did not had the same impact that the approval of a bitcoin ETF had as we have been waiting for its approval for years, still for those that like ethereum and have a significant amount, this is a good sign, one that can bring them great profits as soon as the bull market resumes its upward trajectory.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

A month ago, Ethereum have had a strong rally upwards. The cleaver ones predicted its the sign of Ethereum ETF being approved. When it comes to financial gains, there are a higher degree of insider leaks specially in crypto where there's not much restriction and exact laws for such tradings. Ethereum rose even before most of the people knew why it was rising and after the approval, Ethereum has been on a correction ever since.
It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

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the market response is certainly different when ethereum etf is launched compared to when bitcoin etf is launched, the reason is because bitcoin is the most popular cryptocurrency globally, it is a pioneer, and more people are familiar with bitcoin compared to ethereum. also, bitcoin was the first cryptocurrency etf to be approved, and the market had been waiting for a bitcoin etf approval for a long time, so the market response was very positive when the bitcoin etf was approved by the sec.

as for ethereum etf, not many people are waiting for it and there is not as much interest in it as bitcoin, so the market responds differently when it is approved, and it will not have any effect on the price of bitcoin. i wouldn't even know this news if you didn't tell me.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

I can't really say a lot about the impact from the ETH ETF, but i can only way you must wait and watch it. Currently, the daily trading volume for ETH ETF is not that impressive.

The daily volume trade is still less than 24 million, and Ethereum needs a lot of money to inflow. Compared to the BTC ETF's daily trade, Ethereum is nothing. But i can still expect good impact for long term, and let's see how much money gonna be inflow in ethereum ETF in a week.

Then, wait for several days. Keep your eyes on how much money will flow to the ethereum ETF.

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

The big inflow to the ETF will directly impact the price of ethereum. This is because institutions were starting to acquire ethereum as their assets.

But, the worst scenario is if Ethereum keeps following Bitcoin's pattern. Then, ETH ETF won't impact the price.

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Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

I do not know. But ethereum is not worth buying for me when I have bitcoin.

Quote from: Alpha Marine on July 23, 2024, 08:43:03 AM

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

I have answered this kind of question before not quite long on this forum. Do not see ethereum as something like bitcoin because ethereum is also an altcoin like solana and BNB. Altcoins moves in the direction that bitcoin is moving, not that bitcoin moves in the direction that altcoins are moving. It is altcoins that is following bitcoin price to the same direction. As for the market to be follow ethereum, do not expect that.

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I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Topic: Ethereum ETF approval. (Read 331 times)