As Attention Turns To Unprecedented NFT Frenzy", and pointing to the accelerating institutional adoption and surging one-month forward swap, we predicted much more upside for the second largest cryptocurrency which serves as the platform for the latest NFT craze.

Predictably, the post promptly generated the requisite critical commentary among the peanut gallery, where traders are so brilliant they can't be bothered to even consider an outside view. Maybe they should have, because fast forward two days when we find that not only did Bloomberg catch up to what we said on Monday...

... but with Ethereum moving sharply higher this week, the moment it cross the critical resistance level of 3,600 it triggered a furious short squeeze which pushed it just shy of 3,800 - the highest price since May - and just a few hundred dollars away from its all time record high.

And yes, those who were busy explaining why Ethereum is garbage, shitcoin, etc, and why only they know better, would have been 10% richer in just 2 days. But they don't need the money..