Dutch Analyst Predicts Major Event for Ethereum (ETH) – Is the Bull Market Over?

Leading Dutch analyst Michaël van de Poppe predicts a major event Ethereum (ETH). He believes a big shift is coming for the number two in the market.

Van de Poppe does not see it happening that the American Securities and Exchange Commission (SEC) will approve Spot Bitcoin ETFs in the coming weeks.

Dated May 30th

Another important date is in the books for May 30th regarding Spot Bitcoin ETFs. The SEC will then have to make a decision on the Ethereum ETFs from Hashdex and ARK 21Shares, after postponing the decision on the approval of these investment products in March to May.

Van de Poppe expects that the SEC’s decision will ultimately be crucial for the direction Ethereum chooses.

It is surprising that after rejecting the Ethereum ETFs, he expects a price reversal at the end of the month. Van de Poppe sees Ethereum starting to recover after this, bringing the coin to almost 4,000 dollars.

At the time of writing, the price of Ethereum is entering at $2,879 and is expected to decline by 1.56 percent in the last 24 hours.

The bull market has stopped

It is clear that the bull market is stopping now. Earlier this year, Ethereum was still trading around $4,000 and is currently trading at $2,879. That’s a big difference, which also explains the average feeling.

CoinMarketCap’s Fear & Greed Index now gives a yellow score, which means not the best sentiment. We saw the same thing happen in January, after the price of Bitcoin fell after the launch of Spot Bitcoin ETFs in America.

However, the first big part of the bull market soon began, and eventually a new all-time high for the price of Bitcoin.

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