Will there be another slump on 3.12? Will there be a major correction following the good news? Has it reached the top now? Can I go short?
In the past few days, I have received countless friends asking me this question, and I have explained it here: All I can say is that it is not at its peak yet, and the specific reasons have been explained in the community. The current price can definitely increase the price. For ETH, I am looking at at least 4200 and above.
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The current market consensus is that Ethereum's recent rally is driven by optimistic expectations that the Ethereum spot ETF will be approved for listing, as well as the upcoming Dencun upgrade on March 13. Siddharth Lalwani, co-founder and CEO of Range Protocol, told Cointelegraph that institutional investors may further increase their Ethereum positions as attention on Bitcoin’s recent all-time highs fades. He told Cointelegraph (Once Bitcoin’s attention shifted to the potential of the ETH ETF, liquidity retraced and consolidated at the highs, leading to higher prices on the macro outlook. All in all, it’s safe to say that it won’t be long before institutional investors Hold a larger position on Ethereum.)#ETH