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peterbllee
Mar 12, 2024

The approval of spot ETF has given Bitcoin the momentum to set a new All Time High of $72, 000. In all previous halving cycles, Bitcoin new ATH comes after halving. As the price of Bitcoin rose it outperformed Ethereum. Although the increase in price of Ethereum was good, it was not as fast as that of Bitcoin. During the last few days Ethereum is playing catch up. The price of Ethereum has risen from $2, 300 at the beginning of Feb to $3, 300 at the end of February. This is still very far from its ATH of more than $4.8K that was made in 2021. The last few days has seen Ethereum climbing again and has now broken above $4K. The approval of Spot ETF has brought in a huge increase in the demand of Bitcoin. Is the expectations of the approval of spot ETF for Ethereum responsible for the rise in the price of Ethereum so far in March? Even before the actual approval of the spot ETF for Bitcoin, the anticipation of the approval was enough to drive price up. People bought ahead of the approval to front run the approval. After the approval prices dipped for a while as a classic example of "Buy the rumor and Sell the news" Is a similar process happening for Ethereum? Blackrock has submitted an application for spot ETF for Ethereum. The deadline for the SEC to decide on the application is in May. Will the SEC delay until May before deciding on whether or not to approve Ethereum ETF's? Do you think that the SEC will approve Ethereum ETF's?