K33 Research Flips on Ethereum, Advises Investors to Shift to Bitcoin – Coinpedia Fintech News


Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

K33 Research, a respected cryptocurrency analysis firm, has revised its stance on Ethereum and Bitcoin.
The firm now suggests a change in investment strategy, advising investors to “pull the brakes on ETH and rotate back into BTC”
This shift is partly due to the underwhelming performance of the newly introduced Ethereum ETFs.
K33 Research, a respected figure in the world of cryptocurrency analysis, has published a compelling report that has piqued the interest of numerous investors. The report’s message, “Time to ‘pull the brakes’ on Ethereum and rotate back to Bitcoin,” couldn’t be clearer.
What’s the meaning behind all this, and why should you care? read on.
In a previous report released in September, K33 Research’s senior analysts, Anders Helseth and Vetle Lunde, confidently predicted that Ethereum (ETH) would outperform Bitcoin (BTC) in the months of September and October. Their reasoning was tied to Ethereum’s favorable momentum, potentially driven by an anticipated ETF listing.
However, now things seem to be changing for Ethereum. 
Strategy Changes
In the latest market report dated October 3, Helseth and Lunde from K33 Research have revised their stance, suggesting a change in investment strategy. This adjustment comes as a result of the rather disappointing performance of the newly introduced Ethereum futures exchange-traded funds (ETFs).
In their market report dated October 3, the analysts emphasized that it’s time to “pull the brakes on ETH (Ethereum) and rotate back into BTC (Bitcoin).” 
The initial trading volume of Ether futures ETFs accounted for a mere 0.2% of the trading activity witnessed by the ProShares Bitcoin Strategy ETF (BITO) on its inaugural day of trading in October 2021.
While the analysts acknowledge that it was unrealistic to expect Ether futures ETFs to match the initial trading volume of Bitcoin futures ETFs, the actual numbers on the first day of trading fell far short of expectations.
Also Read: Bitcoin ETF Update : Analyzing the Impact of U.S. Spot ETF Approvals
This unimpressive start for Ether ETFs led Lunde to reverse his earlier recommendation of increasing the allocation of Ethereum to take advantage of the ETF hype.
This got one of the K33 analysts, Vetle Lunde, changing his tune. He used to say, “Buy more Ethereum; it’s gonna take off!” But now, he’s saying, “Hold on, maybe Bitcoin is where it’s at.”
Read More: US Congress Urges SEC to Approve Bitcoin ETF: Is This the End of the Wait?
There are a couple of reasons for this change of heart. Firstly, Bitcoin stands on the verge of potentially gaining approval for its own ETF in October, an event of considerable significance. Secondly, there looms the “Bitcoin halving” event scheduled for April 2024.

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