Will Ether (ETH) reach a new ATH in a few days or in a few weeks ? Bitcoin (BTC) is no longer the only one to enjoy the support of institutional investors.
Futures contracts: institutions drift from Bitcoin to Ethereum
Ryan watkins maintains that the announcement of Chicago Mercantile Exchange (CME) concerning the launching of futures contracts ETH marks the start of institutional investor interest in the 2nd crypto in the market.
In a tweet of December 27, 2020, Watkins indicated that once investors accept the possibility that Bitcoin has value, it becomes easier for them to legitimize other cryptos. The jump from Bitcoin towards Ethereum is then unavoidable.
According to data from Bybt.com, the CME is the largest futures exchange BTC.
On December 28, 2020, the value of futures BTC amounted to $ 1.67 billion.
Some analysts expect demand for Bitcoin possibly affects Ethereum.
ETH and BTC bulls run together
TheEther crossed the $ 700 mark and then the $ 800 mark for the first time in 2 years in December 2020. ETH continued to climb above $ 1,140, approaching its current ATH.
This sharp rise could signal the start of an altseason.
Bitcoin him continues his ascent above 30,000 USD. An altseason would exclude Ripple (XRP) mired in problems following complaints from the DRY against the company and its leaders.
Watkins is not the first to point out the growing attraction of investors forEther. Michael Sonnenshein, responsible within Grayscale, had also indicated that many clients were increasingly paying attention to funds Ethereum only.
The Grayscale Bitcoin Trust Fund is by far the most popular product of the company but, Sonnenshein found a significant increase in cash inflows into theEthereum Trust.
Investing in Bitcoin for its scarcity and in Ether for its usefulness: a strategy that holds water to protect against inflation of fiats while benefiting from innovations in the cryptosphere. Bitcoin could reach 100,000 USD by the end of 2021, while altcoins could also see their price explode: who said that Bitcoin structurally tends to overshadow its younger siblings?
Litecoin, welcome in the Silver Age