If this continues it can be the Bull Cycle! Ethereum teaming up with Goldman Sachs?
It sure looks like we have broken out of the wedge, only thing is will it close there and continue to move up. In my opinion, if we break on through to the 200 day Moving Average then it is a confirmed Bull Run.
So what is driving this? Well with the SEC delaying the Bitcoin ETF again, this time to December, it is my opinion that the Ethereum (ETH), futures contracts are weeks away from being announced, the Ethereum foundation is rumored to be partnering with Goldman Sachs to deliver an Ethereum Futures Product. There are several articles talking about ETH futures contracts, including the one with the rumor listed first:
- This one is 3 hours old. https://bitcoinexchangeguide.com/insider-newsflash-goldman-sachs-ethereum-futures-a-real-possibility-in-launching-an-eth-ndf-for-clients/
- This one less than a day old. https://xbt.net/blog/ethereum-blog/ledgerx-reportedly-waiting-on-cftc-approval-to-launch-ethereum-eth-futures/
- This one just over a day old. https://ethereumworldnews.com/another-institutional-trading-platform-ready-to-launch-ethereum-futures/
- This one is a price prediction for Ethereum they are saying from $2000-$5000 in 2018! https://investingpr.com/ethereum-price-predictions-for-2018/#comment-139.
- Tom Lee says ETH is about to break out also. https://www.bloomberg.com/news/articles/2018-09-27/crypto-bull-thomas-lees-says-ethereum-is-poised-for-a-big-rally
Some live has come back into the market, the market cap seems to be moving up and Bitcoin dominance back down.
Well take a look at the above and let us know what you think. I am not a financial advisor and this is not financial advice, invest at your own risk.