Why Bitcoin, Ethereum 'Bottom Is In' And 'New Highs Are Imminent,' According To Veteran Trader
Portfolio Pulse from Khyathi Dalal
Veteran trader Flood Capital predicts new all-time highs for Bitcoin and Ethereum, citing market dynamics, ETF impacts, and improving sentiment. The trader highlights the influence of Bitcoin ETFs and the potential for Ethereum ETFs to drive market growth.
June 26, 2024 | 5:07 pm
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POSITIVE IMPACT
Flood Capital predicts new all-time highs for Bitcoin, citing market dynamics, ETF impacts, and improving sentiment. The trader notes that Bitcoin ETFs are attracting new capital, which could drive prices higher.
The prediction of new all-time highs for Bitcoin is based on the influx of new capital through Bitcoin ETFs and improving market sentiment. This could lead to increased buying pressure and higher prices in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Flood Capital is bullish on Ethereum, predicting new highs driven by the potential impact of Ethereum ETFs. Despite current low expectations, the trader believes that successful Bitcoin ETFs will lead to aggressive promotion of Ethereum ETFs.
The trader's bullish stance on Ethereum is based on the potential for Ethereum ETFs to attract new capital, similar to Bitcoin ETFs. This could lead to increased buying pressure and higher prices in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100