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- Crypto market is still struggling from the bear traps.
- Michael Saylor is bullish on the second top digital asset.
- Some investors think that the market might see a rebound.
Michael Saylor Bullish On Ethereum
It appears to be a tough time for the crypto market. Since the start of this crypto winter, the investors are afraid of what this event might lead them to. The turbulent times have gone to the level where they have started fleeing from the market after selling their assets. This panic selling has caused a major havoc, and will not stop until the support is offered by incoming investors.
However, there are crypto whales that haven’t lost their faith in this situation. Among those whales is the MicroStrategy CEO Michael Saylor. Though he is a Bitcoin whale, he is supporting the rival crypto asset this time. He thinks that Ethereum has a lot of potential for the future. He believes that it can overcome even Bitcoin at some point in the coming years.
According to the reports, Ethereum was trapped in an ascending triangle pattern. This has increased the fear among investors that the cryptocurrency might plunge down to $900 resistance. This statement from the Microstrategy CEO serves as a moment of relaxation, especially for the holders of this asset. This might also convince some of the investors to re-enter the space.
Sigh Of Relief For ETH Holders?
During an interview with a news website, Michael Saylor was questioned regarding the top crypto assets dominating the market. He thinks that the Ethereum ecosystem has transformed significantly over the years. He further said that constant requirements of software upgrades have converted it into a type of security. He believes that if a decentralized protocol is supporting it.
For the past few years, Ethereum has attained great momentum and has become the most popular cryptocurrency after Bitcoin. This is the reason it has witnessed a massive change in its price over the years.
At the time of publishing, Ethereum was trading at the market value of $1088.04, uptrending by 1.52% in the past 24 hour.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
