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Home » Analysts predict a bearish outlook for Bitcoin and a bullish outlook for Ethereum revealing the latest altcoins catching investors attention
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Analysts predict a bearish outlook for Bitcoin and a bullish outlook for Ethereum revealing the latest altcoins catching investors attention

By adminMay. 30, 2024No Comments2 Mins Read
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Analysts predict a bearish outlook for Bitcoin and a bullish outlook for Ethereum revealing the latest altcoins catching investors attention
Analysts predict a bearish outlook for Bitcoin and a bullish outlook for Ethereum revealing the latest altcoins catching investors attention
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Analysts painted a bleak picture for Bitcoin while highlighting a positive outlook for Ethereum, revealing the new altcoins catching investors’ attention.

QCP Capital analysts suggested that approval for a spot Ethereum ETF could be on the horizon in early July.

Repayments to creditors in the Mt. Gox incident, famously known as the Bitcoin nightmare, are anticipated. A significant BTC transfer recently occurred in Mt. Gox wallets, sparking price reactions.

As the impact of Mt. Gox transfers on BTC prices persists, QCP Capital analysts pondered the possibility of this trend continuing. They believe that the uncertainty surrounding the Mt. Gox incident could hinder the rise in BTC prices.

Despite the uncertain future of Bitcoin, analysts remain positive about ETH. They foresee a favorable outcome with spot ETH ETFs potentially driving prices towards $4,000-5,000 by the end of June.

With Blackrock’s update on its Ethereum ETF application, QCP analysts anticipate potential approval by early July. Additionally, investors have shifted their focus to higher beta meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE), which have seen significant gains and are among the top 10 in Open Interest.

“Investors are turning to higher beta meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE), which have seen double-digit gains (10-20%) and are gaining traction in the market. BlackRock submitted updated S-1 forms overnight, with other issuers likely to follow suit soon. Final approval for ETH ETFs could come in early July.”

Please note that this is not investment advice. For trading in over 300 cryptocurrencies, you can sign up with Binance exchange with a 20% COMMISSION DISCOUNT through this link!

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