Experts Expose ‘Coordinated FUD’ Suppressing Ethereum Price and Why You’ll Not Regret Buying More ETH

March 21, 2024

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Amid a recent wave of negative stories and price pullbacks for Ethereum (ETH), several top crypto analysts remain steadfastly bullish on the second-largest cryptocurrency. They view the ongoing narratives as coordinated “FUD” (fear, uncertainty and doubt) aimed at allowing larger players to accumulate ETH at cheaper levels.

Leading the bullish charge is Ash Crypto, who stated bluntly: “This all is just a coordinated FUD to buy cheap ETH before the spot ETF gets approved.” The analyst pointed to Ethereum’s deflationary supply dynamics, the crypto ecosystem’s reliance on ERC-20 tokens, and the millions of ETH being continually burned in fees as underpinning fundamentals.

“ETH is going to $10k. You are not bullish enough,” Ash Crypto proclaimed, implying that the recent pessimism is severely misguided.

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Matthew Hyland, another prominent ETH analyst, concurred that the negative coverage around a potential Ethereum spot ETF approval is to be expected. However, he argued it is being deliberately perpetuated to create “doubt and fear” in order to suppress ETH’s price.

According to Hyland, this is because “Wall Street could not buy the BTC ETF without the ETF itself,” and he believes the same dynamic will play out with an Ethereum ETF. He stated institutions need the ETF vehicle to accumulate exposure seamlessly.

“The only way to hold the ETH price down now is by pushing out negative stories that it won’t get approved,” Hyland explained, suggesting traders are being “manipulated” by narratives aiming to create cheaper buy-in levels for larger players.

The analyst pointed to BlackRock’s exceptional track record of 576 approved and only 1 rejected ETF filing as a harbinger of things to come. He also highlighted BlackRock’s launch of a $100 million token asset fund using Ethereum as a bullish signal.

While acknowledging the recent 26% sell-off for ETH, analyst Hov adopted a more technical perspective. The sell-off presented a “high probability area” to buy the dip according to their analysis. Hov eyes $3,400 as an optimal re-entry level, but also noted $2,800 as another key area of interest if ETH can’t reclaim $3,400 in the near-term.

Amid the back-and-forth narratives, one message rings clear from these elite analysts – the current ETH weakness may be being overstated and potentially orchestrated. As such, they argue investors should be taking advantage of any discounted prices, as they see Ethereum’s fundamentals and upcoming catalysts like a spot ETF approval as driving a continued marathon uptrend.

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