Home
News
- 1 Glassnode is a leading data and intelligence platform in the crypto space.
- 2 Glassnode’s insightful predictions are taken seriously by industry experts and investors.
- 3 The co-founders of this platform have predicted a tremendous uptick in Ethereum.
Glassnode: In a Nutshell
Glassnode has been offering a holistic view of crypto markets for years. They provide a comprehensive database of on-chain and financial metrics. Their insights help investors make the right decision and beat the market’s odds. They also equip investors with the tools to gauge and interpret different circumstances. The world’s prominent asset managers, banks, hedge funds, and crypto companies trust Glassnode with its in-depth analysis.
The Prediction About Ethereum
Ethereum is the second most valuable cryptocurrency. It already holds a lot of value, and its successive run doesn’t seem to be stopping. According to Glassnode, Ethereum is all set to soar higher in the coming months. Its founders, Yann Allemann and Jan Happen, apprised their 55,800 followers of their prediction with a tweet.
They forecasted that Ethereum would overcome the long-standing downtrend against Bitcoin. Some other experts also hold the same view about this highly-adaptable network. They say that the promising coin is going to register big-time growth. Many say that the ETH sees a short-term weakness but soon reap huge benefits.
The seasoned experts are also suggesting traders shift focus from BTC to altcoins. However, that doesn’t mean that BTC will be weaker than it. Analysts say that BTC will also see a rise. However, it would be Ethereum stealing the show altogether. The duo recommends building a strong portfolio while avoiding high-beta plays.
Meanwhile, the forecasts are already showing a positive impact in the markets. It has pushed BTC from 0.06 BTC ($1742) to 0.07 BTC ($2,032). Yet, the Glassnode co-founders have predicted that Bitcoin will experience a fall. The duo has attributed it to the ongoing issues with the US dollar index (DXY). They say that Bitcoin and altcoins will recover only after DXY settles down.
Upshot
While the market is showing interest in BTC below $29,000, it still needs some liquidity. In these circumstances, buying a falling coin and waiting for DXY to settle down is advised. With some prudence, traders can make the most of markets’ ups and downs. They can profit from BTC, ETH, and any other altcoins with strategic trading.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
