Venture Capitalist Andrew Kang Analyzes Future Trends of BTC and ETH; Predicts Potential Impact on SOL if Meme Coin Hype Declines
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Ethereum ETF Delayed to Q4
Remains Bullish on Bitcoin
Limited Upside for Ethereum
SOL Could Drop to $80
Andrew Kang believes that the Ethereum spot ETF will be delayed until Q4 this year. He claims that many ETF experts are also leaning towards a Q4 launch, although Bloomberg ETF analyst Eric Balchunas revealed the possibility of a July listing in mid-June.
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Bloomberg Analyst: Ethereum Spot ETF Could Launch in Early July
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Remains Bullish on Bitcoin
Due to the lack of capital inflows into the ETF, market momentum has shifted from bullish to bearish. However, Andrew Kang believes that Bitcoin will maintain its strong performance and not drop below $50,000.
He stated:
Although the weekly chart may appear to be a double top for some, I believe the market structure has significantly changed from previous bull cycles. More DCA (dollar-cost averaging) has created higher lows and balance, and high-leverage players (such as 3AC, Alameda, Celsius, etc.) have also decreased.
Compared to Bitcoin, Andrew Kang is not as optimistic about ETH.
He pointed out that ETH may rise until the ETF launch, but the upside will be below $4,000. If capital inflows are lower than expected and a large amount of ETHE (Grayscale ETF) is sold off, it may drop to around $2,000.
Furthermore, the crypto community is relatively more familiar with ETH, and the expectations for an Ethereum ETF may be higher than those of traditional retail investors. He mentioned that Bloomberg ETF analyst Eric Balchunas has also noted the lower interest in an Ethereum ETF from the outside world.
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Elderly Investors Do Not Understand “Ethereum,” Lack of Traditional Market Appeal for ETH ETF?
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Although he was bullish on SOL and meme coin projects like Trump, Doge, and Frog at the beginning of the year, Andrew Kang mentioned the potential impact of the cooling off of meme coins.
Solana has performed well during this cycle, but the demand for meme coins also affects the rise and fall of SOL. If meme coin trading slows down in the coming months, you may be able to buy SOL again at around $80.
DCA
SEC
Solana
Ethereum
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