Bitwise CIO Says Ethereum is The Best Contrarian Crypto Bet Right Now
The Ethereum price struggles this year have been evident in the crypto sector. Interestingly, these struggles have persisted despite the launch of the Ethereum spot ETFs.
For context, the January 11 launch of the Bitcoin spot ETFs spurred the largest cryptocurrency by market cap to a new all-time high of around $74,000 in March.
However, in Ethereum’s case, it faced capitulation due to selling pressure and other macroeconomic factors. Meanwhile, in a recent disclosure Bitwise CIO Matt Hougan, the asset has been and is still the best contrarian crypto bet this year.
Ethereum’s Apparent Price Struggles
In an interview with Altcoin Daily, Bitwise CIO Matt Hougan stated that Ethereum is currently the best contrarian bet in the crypto…
