Ethereum Will Be the Belle of This Bull Market Ball

by Juan Villaverde
By Juan Villaverde

This year could turn into a crypto carnival!

And one of the forces pushing crypto enthusiasts toward celebration is the long-awaited debut of the first spot Bitcoin (BTC, “A-”) ETF by the Securities and Exchange Commission.

Now, this shiny new spot Bitcoin ETF is set to open the floodgates for those institutional investors who've been shyly eyeing crypto from the sidelines.

Even better, the approval — and subsequent entry by all those waiting for the ETF to hop into crypto — is timed impeccably with April's Bitcoin halving — a historically proven market stirrer.

But here's where the plot twists: While everyone’s busy singing Bitcoin’s praises, I’m betting my chips that it’ll be overshadowed.

In fact, I believe Ethereum (ETH, “B+”) will be the real belle of this bull market ball.

Let's rewind to last September so I can explain.

At that time, crypto started its upward strut, with Bitcoin leading the parade from a humble $25,000 to a lofty $43,000. This rally, fueled by the SEC ETF approval whispers, sent Bitcoin up by a cute 70%.

While that 70% is impressive, it’s nothing compared to the field day top altcoins had!

Since September, Solana (SOL, “C+”) pulled a staggering 450% jump, Avalanche (AVAX, Not Yet Rated) soared by 300%, THORChain (RUNE, “B”) did a neat 250% and Chainlink (LINK, “A-”) wasn't far behind with a 150% rise.

With altcoins outperforming like this, you’d expect the original altcoin to have moved in step, right?

Well, Ethereum must have missed the memo. It crawled up by just 40%.

But here's the kicker: Ethereum is the silent ninja, waiting in the shadows.

It’s been cooking up some serious tech advancements and scalability solutions, courtesy of its thriving Layer-2 ecosystem.

Investors seem to be overlooking Ethereum's hefty first-mover badge. Understandable … but way too shortsighted.

Once the Bitcoin ETF fuss dies down, the spotlight will inevitably swing to "Who's next?" And that's Ethereum's cue to take the stage.

See, Wall Street's already queuing up for the Ethereum spot ETF extravaganza, with BlackRock (BLK) and others having already filed for spot ETF applications with the SEC, as well.  

With Ethereum lurking in Bitcoin's shadow, modestly underperforming, I’d say it’s screaming “bargain” right now.

Because once the SEC seals the Bitcoin ETF deal, the market's going to snap to attention and realize, "Hey, what about Ethereum?" And when heads swivel and attentions pivot, the whirlpool of speculation will spin again, a frenzy that Bitcoin just rehearsed.

The potential for a more dramatic price surge for Ethereum when that happens? Higher than a kite on a windy day.

In essence, I anticipate Ethereum is likely to have its very own Cinderella moment in 2024. Its price is set to dance to a very lively tune, driven by the upcoming market shifts, increasing interest and speculation once its spot ETF starts churning the rumor mills.

So, keep your eyes peeled and your crypto wallets ready — Ethereum's about to go from overlooked to overbooked.

But it isn’t the only altcoin that I anticipate having an impressive bull run.

To learn more about the three I think folks should buy now, ahead of the big bull run, join me this coming Tuesday, Jan. 9 at 2 p.m. Eastern in my Crypto Convergence briefing. All you need to do is save your seat and tune in then.

Best,

Juan

About the Editor

When econometrician and pro trader Juan M. Villaverde first applied his algorithms to Bitcoin years ago, he discovered a regular cyclical pattern. And he has since used it to build the world’s first crypto timing model based on cycles. Thanks to his analysis, the Weiss Ratings team has accurately picked the top and bottom of major crypto booms and busts.

Crypto
See All »
A
ETH $3,741.64
B
ALGO $0.192895
B
B
ADA $0.462569
B
B
B
SOL $169.64
B
ZRX $0.579553
B
CRO $0.121613
B
B
MKR $2,787.52
B
MATIC $0.732632
B
TRB $109.89
B
UNI $10.88
B
AAVE $108.34
B
B
Crypto Ratings
Loading...
Weiss Ratings