What are the catalysts for the next market trend?
What will be the driving factors for the next market trend?
Now that Bitcoin ETFs have been approved, the next focus is expected to be on Ethereum ETFs. However, just like it took time for Bitcoin ETFs to be approved, it is also unlikely that Ethereum ETFs will be approved instantly.
Currently, ethereum has successfully completed the Denkun upgrade and significantly reduced the fees for Layer 2 transactions.
As a result, it is true that the Ethereum ecosystem has become more attractive to users.
'Market Leading Indicators'
- Ethereum ETF → I think the price movements will be unstable like bitcoin until approval is obtained due to the anticipation.
- AI Trend → AI demand is flowing into cryptocurrencies led by RNDR. However, I do not expect such significant inflow of funds to uplift the overall market.
- Resurgence in Gaming and NFTs → In 2021, there was excitement around gaming and NFTs, causing prices to soar. It is still believed that these are key factors to reach the masses.
- Entry of Institutional Investors → When pension institutions like GPIF enter, there will be an increase in fund inflow.
- Presidential Election → If Trump wins the American presidential election, it may stimulate bitcoin investments.
There may be no end if we keep listing them, but I think the most important thing is to have a killer app that can make people believe that blockchain, like in 2021, can change the world. Personally, I think ETFs are like bonuses and without technological advancement, there is no intrinsic growth.
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