crypto

🧐 How Low Can $ETH Go? 🧐

Let's delve into why #Ethereum might face a short-term dip:👇

- Grayscale ETHE Sell-Off: Grayscale, with a staggering $10 BILLION AUM and 3 million ETH, has been a significant player since 2017. Now, with the conversion of their trust into an ETF, we see a wave of profit-taking.
High management fees at 2.5% are pushing investors towards more cost-effective options like Blackrock’s ETHA ETF, which boasts a much lower fee of 0.25%.

- Mt. Gox BTC Distribution:The long-anticipated distribution of BTC from Mt. Gox has begun, adding pressure to the market and potentially impacting ETH as well.

- Political Climate:Kamala Harris's potential presidential run introduces uncertainty, especially given her lack of support for crypto.

💡 My Prediction:

#Ethereum sell-off might find support around the $2800 level. Once the Grayscale ETF sell-off subsides, other ETFs will likely bring an inflow of constant buying pressure, stabilizing and potentially boosting ETH prices.