Benzinga - by Ivan Crnogatić, Benzinga Editor.
Cryptocurrency trader Alex Krüger shared his insights on Ethereum (CRYPTO: ETH), the second-largest cryptocurrency by market capitalization, suggesting it will trade at new all-time highs in the future.
What Happened: In an April 15 tweet, Krüger was bullish on the asset.
“I expect ETH to trade ATH,” he said. Krüger is “long $ETH” and uses ETH, saying it is “useful” and “decent collateral and great for staking.”
However, he also points out that “ETH underperforms. “Those not using it for staking are down bad,” according to Krüger. He attributes this underperformance to the fact that “most people in crypto already own too much ETH” — a topic he has been discussing for some time.
Krüger warns against being a maximalist, stating, “Don’t be a maxi. It will only cost you money.” For those who find themselves overexposed to $ETH, he suggests rebalancing their portfolio “during market crashes.”
Emphasizing the importance of relative performance in the crypto market, Krüger urges investors to consider diversifying their assets to maximize returns and minimize risks.
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Why It Matters: The approval of Hong Kong’s first spot Bitcoin and Ethereum ETFs is a significant milestone in the city’s journey to become a leading hub for cryptocurrency investment in Asia.
This move comes on the heels of the U.S.’s introduction of similar ETFs. So far, they have already attracted billions in net inflows. As Hong Kong opens its doors to mainstream crypto investment, it sets the stage for increased adoption and liquidity in the region.
Despite an ongoing market correction, analysts remain optimistic about the overall health of the crypto bull market, suggesting that the downturn is a temporary setback rather than a macro trend.
What’s Next: The importance of Ethereum as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: Arthur Hayes: ‘That Was The Dip, Now We Rip,’ Asks 490K Followers What Coins To Buy
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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