However, Eric Balchunas also sees some tough days ahead for cryptocurrency market
Despite this optimism, Balchunas has warned that the next few days could be “tough” for these products due to outflows from Grayscale’s ETHE. On Thursday, these much-anticipated products logged $152.4 million worth of outflows. Grayscale’s ETHE bled a whopping $346 on its first day. Still, Balchunas is convinced that the intensity of these unlocks is going to die down sooner compared to GBTC.
Still, some market analysts are convinced that Ethereum's bearishness will subside in the near future. Digital expert Miles Deutscher recently called the Ethereum pullback"an opportunity," while adding that Bitcoin also Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.
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