What will be the future of bitcoin as investors shift their focus from bitcoin to the second-largest crypto asset by market capitalization.
According to research note published by CryptoSlate.
The exchange, citing various data such as options skewness, portfolio adjustments and whale stocks, noted that the launch of the ETF is likely to boost the long-term price of Ethereum.
And as such investors are selling bitcoin in their possession, to acquire Ethereum and I begin to doubt the future of bitcoin!
Investors interest are driven by the profit they are going to make within a specific period of time. This has nothing to do with the future of btc from a long-term perspective. Money is made base on speculations and the eth etf is one of such cases. Every speculating eth price will be much higher when the etf is eventually approved. Investors capitalizing on that note to buy eth while the price is cheap for a possible pump afterwards.
Btc future is very bright and there is no reason to think otherwise. Those who are selling for eth will definitely buy back when they are done with the eth etf short-term pump.