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The closely followed anonymous crypto analyst Rager has issued a warning about the underperformance of the king of altcoins, Ethereum, despite the increasing hype surrounding the potential approval of spot Ethereum exchange-traded funds (ETFs). The analyst expects Ethereum (ETH) to continue underperforming Bitcoin (BTC).
Warning of Low Performance for Ethereum (ETH)
The anonymous crypto analyst Rager told his followers on his personal account on social media platform X that he is closely monitoring the price chart showing the status of Ethereum against Bitcoin (ETH/BTC). According to the analyst, the ETH/BTC trading pair continues to remain in a long-term downtrend, even after showing signs of life at the beginning of this month:
Aside from a quick three-day jump at the beginning of January, ETH has long been unable to show strength against BTC. As long as ETH fails to show strength, the downtrend will continue, and the SEC’s postponement of the spot ETF decision certainly didn’t help the situation.
As is known, the U.S. Securities and Exchange Commission (SEC) postponed its decision last week on Grayscale Investment’s request to convert its Ethereum Trust (ETHE) product into a spot ETF. The U.S. regulatory body also postponed a similar decision for the Nasdaq Exchange’s BlackRock iShares Ethereum Trust.
On the other hand, Rager added that he is on the bullish side for the crypto market in the long run.
“Big Breakout” Prediction for Crypto Gaming Sector
Rager believes that cryptocurrencies will eventually reach higher prices and the market will leave behind the highly volatile phase to enter an easy bull mode. Furthermore, Rager shared the name of a crypto sector that he believes will bring significant momentum to the market in the future, stating:
Attention is about to shift from just ‘crypto games’ to quality games. There will be a few high-quality games that will make the biggest impact in this market and sector. Be ready, I say. In my opinion, quality crypto games have not yet been released, but we could see games of the expected quality released this year.
