Crypto

Ether (Ethereum) explodes, stop or again? stock market board

Ether (Ethereum) has been sparkling lately. Since the last analysis published by Capital in Momentum (investment letter) and 21Millions (cryptocurrency-focused newsletter), the prices of top contender Bitcoin and the cryptocurrency queen have surged 27%, a phenomenal rise in less than two weeks. Our expectation of an explosion in price volatility has come true spectacularly…

And the next few months may well remain hectic, especially since the underlying Ether downtrend has not yet been questioned (at least at this stage) and major events are planned for the first quarter. After the merger, Ether may experience some volatility due to the next major update (Shanghai), which will include the release of 16 million Ether in March, said Vincent Boy, market analyst at IG France. However, he believes that once the doubts are over, we can consider the possibility of Ethereum superiority over Bitcoin, which is also a scenario favored by Capital, based in particular on technical analysis.

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Aside from the surge in Ethereum and Bitcoin prices since late 2022, which is leading more and more crypto investors to hope for the medium-term downtrend to end and resume too soon, the euphoria is “still too great” for the bear market to come to an end.

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Especially as “big hands” (investors with more than 1,000 bitcoins – nicknamed “whales”) continue to be skeptical of the scenario of a long recovery in crypto prices and “continue to sell bitcoins” to “weak hands” (more modest individual investors). , notes IG. “Whales” a priori expect a new series of recessions, and even capitulation of the market (a sharp drop in prices, against the backdrop of high volumes of transactions), before expecting a gradual and prolonged recovery of the bull market.

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In addition, the shock associated with the 2022 scandals (Luna, Celsius, FTX, etc.) continues to have repercussions. And the situation around Genesis and Gemini, and by extension DCG, is being carefully “watched,” IG notes, adding that Binance, although stronger than FTX, is not immune to liquidity issues…

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Find our updated and complete Ether analysis from Friday, January 20th on Momentum and 21Millions. Momentum helps readers identify entry (buy) and exit (sell) points for stocks (and major cryptocurrencies). Discover numerous analyzes (economic, financial and technical), our price trend forecasts (our medium or short term expectations), top news to remember… Every morning in your inbox. And right now, use the promo code CAPITAL30J for a free trial month. To subscribe, simply click on the link below.

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