The good news for Ethereum (CRYPTO: ETH) investors is that the world’s second-most-popular cryptocurrency is still up a modest 6% for the year. The bad news, though, is that the price of Ethereum is down nearly 25% over the past three months. Moreover, Ethereum is significantly underperforming Bitcoin (CRYPTO: BTC), which is up 50% for the year.
As a result, billionaire fund managers appear to be selling off their positions in Ethereum, signaling that a recovery may not be happening anytime soon. So if billionaires are deciding to sell this popular cryptocurrency, should you?
The key catalyst for Ethereum was supposed to be the launch of the new spot Ethereum ETFs at the end of July. Just as the launch of the new Bitcoin ETFs in January led to a surge in the price of Bitcoin at the beginning of the year, the new Ethereum ETFs were supposed to lead to a surge in the price of Ethereum over the final months of the year.
Source Fool.com
No Comment! Be the first one.