Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ether Prices Reportedly Underperforming in Early 2024, Could Be a Reverse Investment Opportunity

Ether Prices Reportedly Underperforming in Early 2024, Could Be a Reverse Investment Opportunity

Bitget2024/09/19 19:17

Matt Hougan, chief investment officer at Bitwise Asset Management, has reportedly said that Ether could become a contrarian investment opportunity by 2025. Although Ether prices have remained depressed since 16 September, Hougan believes the challenges are not fatal and that the market may reassess Ether after the November elections and regulatory clarity.

 

In addition, Solana is up 38 per cent year-to-date, while Ether has been flat. Analysts believe Solana prices could follow Ether's downward trend. Crypto trader GGG predicts that Ether could fall further in the short term.

 

Although the launch of the first Ethereum exchange-traded fund in July failed to boost prices, analysts at Crypto Bullet believe that if Ether prices fall further, a triple-bottom pattern could form, fuelling a Q4 2024 rally.

 

Crypto trader Inmortal noted that the Ether price is retesting the 700-day accumulation range, with key support at $2,200. CoinGlass data suggests that a drop in the Ether price below $2,200 would trigger more than $1 billion in leveraged short liquidations.

 

Some analysts predict that Ether could gain more momentum as Bitcoin enters the parabolic phase of its bull cycle. Historical chart patterns and Bitcoin's average monthly returns for the fourth quarter suggest that Bitcoin could begin a three-month rally to $92,000 in October.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!