Ethereum ETFs and Trump’s Crypto Campaign: A New Era for Digital Currency?
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we've not seen the kind of strength in market like we're witnessing now and there's more good news are coming to surface while there's less people who are talking bullish.
It seems like no one bought bitcoin below $60k and are on sidelines now but it's not the first time.
US elections bringing hype in crypto
I was half convinced seeing all those previous good news coming from USA about crypto like senate overturned SEC rule that was preventing highly regulated financial firms from holding bitcoin.
And today we've got to hear that SEC has told exchanges that they're going to approve all Ethereum ETFs.
Another big thing is now Donald trump is first most popular leader in the world who's accepting crypto for campaign.
So, it's now becoming a trump Vs Biden in crypto and I won't be surprised if this was Biden or Biden admin that told SEC to hold on, make things ease and approve those etfs.
After effects of this news about Ethereum
It makes sense to say Eth/BTC bottom is in because of the kind of candle Ethereum has printed on its chart is a God candle we've not seen in a long time.
About 6 months ago, in this post I shared the chart you're seeing above when Ethereum was at $2000 I made this bull thesis which is perfectly playing out.
Today We've now got Eth etf news that it might be approved soon candle in the chart and next step is breaking the all time highs and continuing towards $10k.
Next Big thing will be Political Coins
We've already got so many memecoins about dogs, frogs, cats etc and it's getting boring but now it is going to be "political memecoins" like trump and biden.
On solana, there's a coin called $boden and $tremp. Couple of weeks ago I was watching a video where Donald trump was asked about $boden memecoin and he literally said that's a bad investment.
So, now trump accepting crypto is just a more clear sign to keep a bag of political memecoins safe for long term especially before trump Vs Biden speech. I believe once it will happen, we'll have a clear political memecoins leader that's going to outperform every single coin in the crypto or stocks.
We're going to witness biggest altcoins rally
I'm euphoric at the moment while still in loss because altcoins are still down from aths and had some bad entries.
I believe this whole election thing is going to send altcoins so high just to give a clear message like "crypto is great, make it great again".
Exchanges will soon locked in, Vc's will lock in, wall street boys will lock in and so retail investors will lock in and more than $10T MC for crypto is around the corner.
Wrapping up...
In the end all of this is my sentiments based on my own observations about the market, don't take it as a financial advice.
It's just a way too look back in time and see where I was wrong, where I was right like that Ethereum bull thesis and others I've been sharing from a long time now.
We'll eventually find out in coming weeks or months how good or bad this elections is going to turn out for crypto. Do share what you think about it in the comments.
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I think it will be good, for the most part. The prevailing narratives seem bullish for crypto, especially when they're tied to certain coins. Interesting times ahead, Q4 will be exciting!