ETH Ethereum ETFs Set to Launch. Short Term Price Target
Updated
If you haven`t sold the top on ETH:
Then you need to know that the Chicago Board Options Exchange (CBOE) has announced that five spot Ethereum exchange-traded funds (ETFs) are slated to begin trading on July 23, pending regulatory approval.
However, the launch of these Ethereum ETFs could lead to a price decline similar to what was observed with Bitcoin.
After the launch of the spot Bitcoin ETFs in January 2024, Bitcoin experienced a notable drop in its price. Initially, Bitcoin was trading above $48,000 but then plummeted to as low as $38,700 on January 23, 2024.
This represents a nearly 20% decline from its high. The initial drop of 5% was observed shortly after the ETFs went live, attributed to profit-taking behavior and market dynamics.
For Ethereum, a similar scenario could unfold. The influx of capital and the heightened attention could initially drive up prices. However, once the ETFs start trading, profit-taking behavior might set in, potentially causing Ethereum's price to fall by 5% to 20%.
Investors should be prepared for potential volatility surrounding the launch date.
My Price Target is $2800.
Then you need to know that the Chicago Board Options Exchange (CBOE) has announced that five spot Ethereum exchange-traded funds (ETFs) are slated to begin trading on July 23, pending regulatory approval.
However, the launch of these Ethereum ETFs could lead to a price decline similar to what was observed with Bitcoin.
After the launch of the spot Bitcoin ETFs in January 2024, Bitcoin experienced a notable drop in its price. Initially, Bitcoin was trading above $48,000 but then plummeted to as low as $38,700 on January 23, 2024.
This represents a nearly 20% decline from its high. The initial drop of 5% was observed shortly after the ETFs went live, attributed to profit-taking behavior and market dynamics.
For Ethereum, a similar scenario could unfold. The influx of capital and the heightened attention could initially drive up prices. However, once the ETFs start trading, profit-taking behavior might set in, potentially causing Ethereum's price to fall by 5% to 20%.
Investors should be prepared for potential volatility surrounding the launch date.
My Price Target is $2800.
Trade closed: target reached
Price Target Reached. The Crypto selloff could continue! 
BUYSELL indicators tradingindicators.store/
TRADING COURSE bit.ly/tradex
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RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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