Crypto analyst Altcoin Psycho believes that the market is underestimating the likelihood of regulators approving a spot Ethereum (ETH) exchange-traded fund (ETF). According to Altcoin Psycho, the impact of such an ETF on the price of ETH is also being underestimated. He suggests that buying ETH below $3,000 before the ETF is approved will be a trade that will become obvious in hindsight, similar to the hindsight of buying Bitcoin before its ETF. Only 13% of traders on the Polymarket prediction market platform believe that an ETH ETF will be approved by the end of the month.

Altcoin Psycho also predicts that market participants will eventually shift their capital from memecoins to more established crypto projects. He believes that the scattered attention in the market will eventually narrow as investors seek quality investments. While he doesn’t think the cycle top is in yet, he believes that the memecoin top is not far away, as memecoins are seen as a gateway drug rather than the end game. He encourages those who disagree to study past cycles.

In terms of the emerging artificial intelligence (AI) sector, Altcoin Psycho goes against the popular belief that the AI bubble is about to burst. He believes that the bubble is just starting and that AI is set to become one of the biggest speculative manias ever seen. He predicts that 99% of AI startups will fail, leading to premature claims of victory by naysayers. However, once the dust settles, the surviving 1% will be extremely valuable and will carry the bubble beyond any other bubble seen before.

Disclaimer: The opinions expressed by Altcoin Psycho and The Daily Hodl are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.