Popular
crypto
analyst
and
enthusiast,
Doctor
Profit
has
boldly
predicted
that
Ethereum
would
see
a
huge
parabolic
move
following
the

spot
ETH
ETFs

launch
before
the
year
closes,
which
has
garnered
the
interest
of
the
cryptocurrency
space.

Ethereum
Poised
Major
Price
Rally
Post-Spot
ETH
ETFs

In
the

post

on
the
X
(formerly
Twitter)
platform,
Doctor
Profit
highlighted
that
all
eyes
are
now
focused
on
Ethereum,
the
shining
bull,
which
is
something
he
previously
predicted
over
the
years.
Now,
with
the
spot
ETH
ETFs
launch,
the
expert
believes
the
crypto
asset
is
finally
ready
to
dominate
the
crypto
market
as
he
expects
a
massive
parabolic
move
for
ETH
this
year.

 

Related
Reading:

Are
Spot
Ethereum
ETFs
Bullish
For
ETH
Price?
Analyst
Reveals
Bullish
Setup

Although
some
industry
experts
may
consider
the
development
a
sell-the-news
phenomenon
that
will
lead
to
a
correction,
Doctor
Profit
is
not
in
agreement
with
the
narrative.
He
noted
that
the
market
may
have
already
taken
the
spot
ETF
launch
into
account,
but
it
has
not
yet
considered
the
enormous
inflows
that
will
pour
into
the
products.

Due
to
this,
Doctor
Profit
is
confident
that
the
price
of

Ethereum

will
be
affected
209%
more
than
Bitcoin
if
the
same
amount
of
capital
that
is
flowing
into
spot
Bitcoin
ETFs
is
invested
in
ETH.
This
is
because
ETH
has
a
three
times
smaller
market
cap
than
Bitcoin
and
thus
any
capital
invested
in
the
crypto
asset
would
have
a
three
times
bigger
price
impact
than
in
BTC.

Doctor
Profit
also
claims
with
the
recent
development
around
ETH,
the
token
is
gearing
up
to
be
the
dominant
force
in
this
bull
cycle,
which
before
now
has
been
Bitcoin.
The
analyst
pointed
out
that
while
ETH
may
not
be
displaying
a
bullish
trend
against
BTC,
he
believes
a
breakout
could
occur
from
the
downtrend
against
BTC
soon,
as
Bitcoin
dominance
is
beginning
to
exhibit
the
first
indications
of
correction.

Thus
far,
altcoins
have
experienced
an
upward
surge
driven
by
a

Bitcoin-led
pump.
However,
with
the
dominance
of
BTC
now
starting
to
drop,
Doctor
Profit
is
confident
that
ETH
will
lead
altcoins
into
the
alt
season
in
the
upcoming
months.

 

ETH
To
Be
Priced
Between
$10,000
And
$14,000
In
A
Year

Following

spot
BTC
ETFs‘
entry
into
the
market,
Doctor
Profit
noted
that
BTC
corrected
by
20%
before
recovering
about
10
days
later.
However,
with
Ethereum,
the
analyst
does
not
expect
that
much
correction
to
take
place,
suggesting
an
instant
positive
price
response
after
the
spot
ETH
ETFs
launch.

Related
Reading:

Ethereum
ETFs
Will
Lead
“All
Of
The
Altcoins
To
Wall
Street”
–
Anthony
Pompliano

As
a
result,
he
has
set
his
next
major
targets
for

Ethereum

between
$10,000
and
$14,000
within
a
year
from
now.
According
to
the
analyst,
these
levels
are
the
regions
where
he
will
start
selling
his
ETH
holdings,
which
he
acquired
between
$80
and
$2,800.

So
far,
he
has
urged
investors
not
to
panic
during
short-term
price
manipulation,
especially
from
an
anticipated
Grayscale’s
ETHE
selling
pressure
as
seen
with
its
GBTC.
While
this
development
may
trigger
fear
among
investors,
he
noted
that
the
selling
pressure
will
be
short-lived.

Featured
image
from
iStock,
chart
from
Tradingview.com

Go to Source
Author: Godspower Owie

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