Ethereum (ETH) has had a turbulent period. In December the price was still almost $ 4,100, but now the coin has fallen back to around $ 2,700. For a moment the price even went below $ 2,500. No reason to panic, says Ed Hindi, co-founder of the Swiss investment company Tyr Capital, on the contrary. According to him, this dip offers an excellent opportunity for investors.
Institutional interest
According to Hindi, there is no doubt possible: the sentiment around Ethereum, the second largest crypto coin in the world, has reached a low point. But that can be the perfect breeding ground for a return, possibly with a new all-time high (ATH) as a result.
According to Hindi, the current market situation of ETH is comparable to that of Bitcoin (BTC) Just before the Spot Exchange Traded Funds (ETFs) in the United States were approved in January 2024. “Weak hands were shaken out of the market, and that creates room for A strong rise, “he says.
The co-founder expects institutional investors who already have BTC in their portfolio will also look at Ethereum. With their hefty capital they can provide a large buying pressure.
Support Trump family
Another bullish development is the fact that the Trump family is enthusiastic about the project. With an American president as a supporter, ETH investors have a powerful asset.
According to World Liberty Financial (WLFI), the decentralized finance (Defi) project of the Trump family, their new fund wants to build a bridge between the traditional financial sector and the emerging world of decentralized financing. “We are building a future in which these two worlds come together and put new standards,” said a statement.
Their fund, called “Macro Strategy,” focuses in addition to strategic investments in Bitcoin, also on Ethereum. This shows that big names from politics and the business community are increasingly looking at the digital currency, a development that further strengthens the growth potential of ETH.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/expert-ethereum-bereikt-bearish-dieptepunt-kans-om-in-te-stappen/
