Recently, a crypto analyst made bearish speculation on Ethereum (ETH), forecasting it could slump to the $1,200 mark by December 2024. At the same time, the analyst was confident that ETFSwap (ETFS), an ETF token, would surge in value amidst its ongoing presale event. Let’s discuss the reason behind the crypto analyst sentiment on Ethereum (ETH) and ETFSwap (ETFS).
Ethereum (ETH) Risks Free Fall To $1,200
Crypto analyst Benjamin Cowen has recently speculated that Ethereum (ETH), the second-largest cryptocurrency, could slump to a bottom level of $1,200 by December 2024. The crypto analyst revealed this information in a YouTube session and pinned his bearish sentiment on the unemployment rate in the United States.
According to the crypto analyst, historically, the unemployment rate in the US has always reached its peak in December, coinciding with a bottom in the crypto market. Therefore, if history repeats, the crypto analyst believes Ethereum (ETH) will find a bottom sometime in December 2024.
Further, the analyst pointed to Ethereum’s (ETH) price performance in December 2016 and 2019, when the altcoin tagged its logarithmic trendline. According to the asset tracking platform CoinGecko, Ethereum (ETH) currently hovers at around the $2,300 level. Thus, if Ethereum (ETH) follows the trajectory of the crypto analyst, it would experience a 50% decline from its current price level.
ETFSwap (ETFS) Gears For Massive Surge To $5
While the crypto analyst spells doom for Ethereum (ETH), the reverse is the case for ETFSwap (ETFS); as its native token, ETFS is speculated to surge massively in its ongoing presale phase. One of the factors influencing the analyst sentiment is that ETFSwap (ETFS) is a crypto ETF trading platform that facilitates the trading of tokenized exchange-traded funds (ETFs). Unlike traditional ETFs, tokenized ETFs allow investors of all portfolio sizes to gain exposure to assets from various industries, including precious metals, on the blockchain.
Also, compared to traditional ETFs, the tokenized ETFs on ETFSwap (ETFS) will be fully convertible to other cryptocurrencies. Further, all users will benefit from the option to trade the tokenized ETFs with up to 50x leverage on the platform’s derivative trading arm. In addition, since the tokenized ETFs will be traded on the blockchain, users can improve their trading strategy with the advanced AI-powered trading tools on the platform.
Further, as a decentralized platform, users can execute transactions without waiting on the authorization of a third party. Also, ETFSwap (ETFS) has integrated Zero-Knowledge proofs, a DeFi protocol that ensures anonymity in transactions, into its system. In addition, the crypto analyst was impressed with the stringent security measures on ETFSwap (ETFS), which includes a thorough audit of its smart contract. Interestingly, Cyberscope, a world-renowned cyber security and blockchain audit firm, has fully audited the platform’s smart contract.
Also, the ETFSwap (ETFS) team has been doxxed by Solidproof, a smart contract security auditing firm, after passing the platform’s KYC verification process. Therefore, users can be assured of the safety of their funds and the credibility of the ETFSwap (ETFS) network. At the core of ETFSwap (ETFS) is its native token, which serves various purposes on the network. However, its most important function is to grant all users access to all the network features and functionalities, including trading tokenized ETFs.
Nevertheless, users who hold this token will be able to influence the network’s decision-making through voting and benefit from the mouthwatering yields that accompany staking ETFS on the platform pool. Due to its important status in the ETFSwap (ETFS) ecosystem, the platform currently offers ETFS to everyone at a low price of $0.03846 per coin, and investors from several regions are rushing to acquire this undervalued token without delay.
Conclusion
While the future looks bleak for Ethereum (ETH), due to bearish speculation by crypto analyst Benjamin Cowen, ETFSwap (ETFS) is expected to soon surge to the $5 mark. When that happens, all who buy it now will have the opportunity to realize 200x their investment margin. So do not delay; like savvy investors from all regions, buy ETFS tokens today.
For more information about the ETFS Presale:
