Joe Lubin, Arthur Hayes Bullish as Ethereum Sees MACD Cross

The crypto markets are currently shifting gradually with a lot more signs of an altcoin season starting to shape up. Ethereum (ETH) price traded above $4,300 on August 11th at the time of press continuing its outperformance of Bitcoin.

More weight is leaning on this trend to continue as seen Ethereum Co-Founder Joe Lubin and Arthur Hayes. Joe Lubin has spoken about it but Arthur Hayes has acted. Both seem to agree about one thing. Ethereum crypto could go up.

Joe Lubin Optimistic About Ethereum Crypto Flipping Bitcoin

Speaking on CNBC as shared by CryptoRUS on X (formerly Twitter), Joe Lubin said that a time will come when Ethereum crypto monetary base value will eclipse that of Bitcoin.

Joe Lubin said, “Some people will think that will never happen. Some people think it’s going to take a few years. I think we may see astonishing things in the next year or so. Especially with these treasury companies driving things.”

Ethereum treasuries are also on the wave. The previous week saw Bitmine (BMNR), an Ethereum treasury firm, outperform MicroStrategy (MSTR) by gains after ETH price surpassed $4,000. Bitmine leads all ETH treasuries by number of coins held. The Chairman of Bitmine, Thomas Lee, has also had the same view. Ethereum is going to outperform BTC by gains. However, he did not reiterate the importance of flipping the market cap of Bitcoin.

Moreso, Ethereum ETFs have also been doing well with inflows continuing across the main issuers. BlackRock was leading this race with an accelerating pace as CryptoGoos reported.

Arthur Hayes Acts: Re-enters ETH Price Trade And Vows

Arthur Hayes took his profit last week, and a few days later, he regretted it after the ETH price strongly broke above $4,000. Multiple analysts’ ultimate $10,000 price was more likely with new buyers also coming in.

The co-founder of BitMEX reinforced his belief by going long on four Ethereum crypto ecosystem coins. A $6.35 million kitty was set for 1,500 ETH at an average price of $4,233. Hayes also bought Lido Finance (LDO) and Ether.fi (ETHFI) and Pendle Finance (PENDLE).

The move showed how even experts can make bad decisions on investment. The profit-taking was against the earlier prediction of Arthur Hayes that ETH price could hit $5,000.

Analysts are seeing an altcoin season on the horizon. The founder Alphractal, Joao Wedson, said that the Altseason had not even started despite Ethereum outpacing BTC by gains since the start of Q2. He noted that capital needed to finally flow into the mid and low capitalized coins for a complete flip. Ethereum has already set the pace.

Ethereum Price Sees MACD Crossover

On the price action chart, Ethereum crypto has had a clear uptrend since July 21st with healthy pullbacks. What was more exciting was that ETH price had seen a bullish cross formation on the MACD. The momentum bars had also shifted to the upside with a reading of 26.41.

Institutions continue to pump capital into Ethereum and its ecosystem coins. Also, the announcement of moving Wall Street on-chain would heighten attention on Ethereum. This would lead to more interest in ETH.

Given the count of events on ETH and the whole ecosystem, including staking, the price could be headed for greater heights. However, there was a risk for manipulation due to huge institutional involvement. Institutional involvement has its advantages and disadvantages, but it’s their capital that drives price.