Ethereum Is Undervalued, Trader Suggests: “Don’t Overthink Things When the Market Gives You Opportunities”

Cryptocurrency trader Eugene Ng Ah Sio shared his perspective on why Ethereum ETH/USD is currently undervalued and suggests that when the market offers opportunities, one should not think too much.

What happened: Eugene Ng Ah Sio highlighted that the current cycle has been dominated by the ETF story, with only two crypto assets poised to benefit from these inflows. According to him, the market has retraced about 50% of the total movement of the ETF approval candle, despite positive developments regarding acceptance and H1 timing.

Ng also mentioned black rock CEO Larry Fink’s “Tokenizing the World” meme, suggesting that Fink is likely to promote Ethereum to its customers. He drew a parallel with the way Bitcoin BTC/USD had already been pushed in a similar way. Ng concluded by advising traders not to overthink the opportunities presented by the market.

The merchant added“I closed the long ETHBTC and ETH positions I purchased at 0.046/3k at the peak precisely because such setups can happen.”

Read also: Ethereum and Altcoins Could “Rebound Quickly” After FOMC Meeting, Trader Predicts

Why is this important: Ng’s view fits with broader sentiment in the crypto community, where ETFs are seen as a major catalyst for price movements. The retracement of the ETF’s approval candle’s movement, despite positive news, indicates that the market may be underestimating Ethereum’s potential.

Additionally, the mention of Larry Fink’s “Tokenizing the World” meme highlights the growing interest in tokenization and its potential impact on the crypto market. If influential figures like Fink offer Ethereum to their clients, it could lead to significant inflows and price appreciation for the asset.

Price Action: Over the past 24 hours, ETH is up 2.3%, trading at $3,618. Last month, Ethereum saw gains of around 20%.

And after: The influence of Ethereum as an institutional asset class should be explored in depth in the next The future of digital assets event on November 19.

Read next: Ethereum ETF demand could be muted compared to Bitcoin ETFs, analysts say

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