Cryptocurrency expert Chico Crypto recently shared information on the latest developments in the world of cryptocurrencies, with a focus on the recent approval of the Bitcoin ETF. He noted the rapid pace of the crypto space compared to traditional markets, highlighting the dynamism of this sector.
Turning his attention away from Bitcoin, Chico Crypto delved into possible future trends in the cryptocurrency market. He specifically highlighted Ethereum and the possibility of an Ethereum ETF, noting that he had anticipated this development more than two months ago, even before big players like BlackRock announced interest in it.
The analyst emphasized the importance of keeping an eye on Ethereum, especially with the expected approval of an ETF. He also mentioned the involvement of certain members of the US Congress who recently invested in Ethereum, raising questions about their possible access to inside information regarding the approval of the Ethereum ETF.
He made comparisons to past events, specifically Bitcoin's price movements in October, which suggested informed buying ahead of its ETF approval in January. Based on these patterns, he predicted a similar trend for Ethereum, suggesting a possible price rise to around $2,875.
In addition to Ethereum, Chico Crypto briefly mentioned Layer 2 solutions like Optimism, Gnosis, and Arbitrum, indicating that they could see growth alongside Ethereum.
Interestingly, the analyst shifted his focus to Chainlink (LINK), proposing that it could be the next cryptocurrency to receive ETF approval after Ethereum. He based this prediction on statements from Chainlink's founder and the high premiums paid by the Grayscale Chainlink Trust.
He advised investors to take advantage of the current opportunities, especially considering Chainlink's recent price movements. After reaching a new yearly high of $17.68 on December 28, LINK experienced a decline, reaching a low of $12.53 on January 8, 2024. Despite this setback, the price recovered following the approval of the ETF, currently trading at $14.98, reflecting a two percent drop. increase.
