Ethereum Poised for July Rebound as Bitcoin Faces Mt. Gox Selling Pressure

IconCryptoNewsTerminal Staff02 Jul, 2024

cryptonews.jpg

Ethereum Poised for July Rebound as Bitcoin Faces Mt. Gox Selling Pressure

Ethereum is poised for a rebound in July, according to a report from cryptocurrency research firm K33 Research. The report states that Ethereum is gearing up for the launch of its first U.S. physical ETF in July. The ETF is expected to absorb 0.75-1% of the ETH float over the first five months after launch. While the ETF launch could lead to a 'sell-the-news' event, the report believes this would be short-lived and that the ETF launch should act as a relative strength driver over the coming months. On the other hand, the report notes that Bitcoin is facing a large amount of potential selling pressure ahead of the Mt. Gox偿还. This is a situation where the chickens that left the coop in 2014 are coming home to roost. The report concludes that Ethereum is a better investment than Bitcoin at this time.

Related News