Why did the crypto analyst sell Bitcoin for Ethereum?
A popular crypto analyst on YouTube and X, Crypto Rover, recently stated in a video that he is considering selling a significant amount of his Bitcoin holdings to invest in Ethereum. He believes that Ethereum has a better upside potential compared to Bitcoin, mainly due to the upcoming launch of Spot Ethereum ETFs in four months. Additionally, Rover mentioned that there is a major upgrade planned for Ethereum within the same timeframe, which he believes will have a positive impact on its price.
Rover started selling off his Bitcoin when it reached around $49,000, and he expects the BTC price to surge past $43,500 before experiencing a notable correction. However, if Bitcoin breaks the resistance at $44,500 and maintains its position above it, he anticipates a massive surge to follow.
BTC Price Today
After reaching a high of $48,969.37 last week, the Bitcoin price has experienced significant declines. Despite attempts to rebound, it retraced back to around $43,500 but faced rejection. Currently, the BTC price has dipped by 0.15% to $42,778.53 with a market cap of 838.70 billion and a 24-hour trade volume of $20.90 billion.
Hot Take: Crypto Analyst Sells Bitcoin for Ethereum Amid ETF Anticipation
A crypto analyst known as Crypto Rover has made the decision to sell off a substantial portion of his Bitcoin holdings in order to invest in Ethereum. The analyst believes that Ethereum has greater potential for growth compared to Bitcoin due to the upcoming launch of Spot Ethereum ETFs and a major upgrade planned for the cryptocurrency. Despite recent declines in the Bitcoin price, Crypto Rover expects it to surge past certain resistance levels before experiencing corrections. Currently, the BTC price is facing rejection after retracing from its recent high.
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