In a time of peak FUD (fear, uncertainty, and doubt) and max pain in the crypto market, combined with traditional markets tanking, Bitcoin and Ethereum are stumbling. Three days ago, Bitcoin had an impressive surpassing of $70,000, but now it’s standing at $63,094, losing more than $7,000. Meanwhile, Ethereum has dipped by about $120, or 3.7%, hitting $3,108.

The recent performance of these two prominent cryptocurrencies is shaking the newly launched ETFs, especially those tracking Ether. Graysdale, Franklin Templeton, Invesco, and BlackRock’s ETFs are all in the red. The Annex Ether ETF, under ticker ETHV, is down about 11% since its launch in early July.

Despite a rocky start for Ether ETFs compared to Bitcoin’s past performance, some investors see positives in both assets. However, with more successes like Bitcoin’s historical ETF launches, Bitcoin seems to have an edge.

Buy the Dip?

According to a strategist at Susquehanna, this could be a “buy-the-dip” opportunity. The strategist noted that the highest close in over a year has been observed, and term structures are showing panic in the short-term but suggest longer-term stability. Interestingly, when such sharp and immediate panic occurs, the S&P usually recovers within a month about 80-90% of the time.

This could imply that much of the current stress and downturn are short-term phenomena, potentially positioning for future gains. Investors are being advised to adopt a long-term mindset, akin to sticking with Amazon stocks through the volatility of the early 2000s.

Long-Term Bitcoin Predictions

The CEO of VanEck made a bold Bitcoin prediction, suggesting it could eventually reach half the total market cap of gold, which would put the price around $350,000. In scenarios where central banks adopt Bitcoin into the monetary system, its price could skyrocket into the millions.

This significant potential is catching the attention of major financial institutions. Morgan Stanley recently became the first major bank to approve Bitcoin for sale via ETFs to their clients. The ripple effect may lead to more institutions following suit, which is pivotal for Bitcoin’s growth and mainstream acceptance.

What Should Investors Do?

Investing in Bitcoin today requires the same conviction and forward-thinking approach as holding Amazon stocks through volatility. Keeping a diversified portfolio while having significant investment in Bitcoin is a personal decision, but signs of adoption and growth are clear.

Conclusion

The crypto market remains highly volatile and unpredictable. However, with strategic long-term investing and understanding the bigger economic transformations, significant gains could be realized. Keep informed, stay engaged, and remember the historical performances that have shaped the market today.