Experts Forecast Entry Points In Ethereum Hedge Funds Retail And Institutions
03 Août 2022 - 2:30PM
NEWSBTC
Amid the negative U.S. GDP record and high Fed rate, there seems to
be a positive turning for some digital assets, especially Ethereum.
For example, the global second largest cryptocurrency by market
cap, Ethereum (ETH), is staging a solid bounce back. Over the past
few days, Ether has progressively increased as it surges to $1,774
in its market. This has created a new phase for the crypto assets
with more growing impressive within the industry. From the
perspective of Raoul Pal, a crypto expert, Ethereum is likely to
display continuous price growth across the $2,000 level. Also, its
increase in value would create entry points for more investors in
the token’s hedge funds, retails, and even institutional
investments. The crypto expert’s presumption comes from the
continuous price rise of Ether and its derivatives. However, with
its upward moves, the fundamentals of the token remained
formidable. Recently through a tweet, investment strategist Pal
stated that cryptocurrencies would excel over other digital assets.
The general feeling is that the macro is so bad that there needs to
be a new low or a re-test of the low. But my hunch is that the path
of MAX PAIN is higher. Hedge funds are scrambling to buy calls just
in case ETH breaks 1800 to 2000. They can not afford Not to
participate. pic.twitter.com/VdotGywBDj — Raoul Pal (@RaoulGMI)
July 31, 2022 The macroeconomic expert pointed out the performance
of Ethereum (ETH) shows a stronger disposition than that of Bitcoin
(BTC). Furthermore, he cited that the upcoming Merge contributes to
hiking the recent Ethereum Network activities. With its current
performance trend, Ethereum can remain robust as it crosses the
$1,500 psychological level and keeps surging. Furthermore, this
increasing path is more realistic as the hedge funds are bringing
more funds to Ethereum. Hence, there is potentially more demand for
Ether as it reaches the $1,800 mark, possibly hitting its
psychological level of $2,000. Ethereum Macro Conditions Could Lead
To A Retest Of Bottom Levels Having experienced the crypto winter
and macro conditions, the markets’ overall sentiment could retest
bottom levels. The current polling would show that many
cryptocurrency investors have liquidated their investments to have
cash. According to the crypto expert Pal, crypto underweights for
retail, hedge funds, institutions, and even family offices. In
Pal’s prediction, Ethereum would have more retail and institutional
investors once the price of Ether crosses the $1,800 level. Also,
for both the pre-and post- Merge of the Ethereum, there’s likely to
be a rise within the $2,200 to $2,300 region. The economist stated
the possibility of macro factors influencing the price trend.
Hence, he foresees a sharp correction and a price pump following
the Merge. According to Raoul Pal, the macro is a key influencer.
He cited the role of global M2, a money supply measure. So, as the
G2 gets better, there will be an improvement in the crypto market
liquidity. Also, he maintained that the increase of the ISM
Manufacturing Index, ISM 16-month lead, shows a potential surge of
crypto prices within the year’s second half. The Ethereum
co-founder Vitalik Buterin had stated that the Merge is yet to be
priced in. But expert Pal believed Ethereum had significantly
impacted the crypto space for the past three years. Featured image
from Pexels, chart from TradingView.com
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