$ETH is up nearly 23% this quarter. That's more than double its normal Q3 gain of around 9%. At first, this looks very bullish. But remember, ETH had a terrible start to the year. It fell 29% in Q1 and another 25% in Q2. So this strong move could simply be ETH recovering after a big drop. Many people think money is now moving from Bitcoin to Ethereum. But the data still shows big investors are mostly buying BTC, not ETH. Until that changes, this looks more like a recovery bounce than the start of a new long-term trend.
Master of CryptoShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.