BlackRock Strongly Supports Ethereum: Will the New Star of Smart Contracts Surpass BTC?
Global asset management giant BlackRock has a true love for Ethereum! Their digital asset chief Robert Michnik directly stated that currently, the enthusiasm for discussing Ethereum among the team is even higher than that for BTC, especially among the technical team, who have become completely enamored with Ethereum. He even used a ratio to illustrate his point, saying that out of every four people, only one is interested in BTC, while the rest are focused on Ethereum. This indicates that BlackRock is particularly optimistic about Ethereum's potential in smart contracts and decentralized applications, believing that its future is promising.
Moreover, although BlackRock is already the leader of the world's largest Bitcoin ETF, they still can't forget about Ethereum, which feels like they are holding back a big move, ready to make a significant play with Ethereum.
Looking at the Ethereum network, it is becoming increasingly popular, with more and more people safeguarding it, indicating that Ethereum's ecosystem is becoming more prosperous and its attraction is growing.
However, Ethereum's price has recently been on a roller coaster ride, fluctuating up and down, causing some investors to feel anxious. Some experts have pointed out that there is still a prevailing bearish sentiment in the market. An analyst named Josh mentioned that although there are signs of a slight warming for Ethereum recently, overall, the price outlook is still not very optimistic. It has now fallen below a very important support line, and if it continues to drop, it may head towards 1500. If it wants to rise again, the range of 2100 to 2200 feels like a mountain that is very hard to overcome.
Although there is an indicator called RSI that has shown some bullish signals, suggesting a possible short-term increase, this indicator is already at its lowest point since June of this year, so overall, the trend is still not very promising.
However, with BlackRock's favorable view on Ethereum, it might bring it some good luck and turn the tide! We shall wait and see!
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