- It won’t be long before the previous all-time high of $4,800 is broken, according to analysts.
According to analysts, Ethereum now has a clear route to surpass its previous all-time high and rise to at least $6,000 after the spot Ethereum Exchange-Traded Fund received approval from the US securities regulator.
The price of Ether, the native coin of Ethereum, surged sharply higher prior to the acceptance.
The token is currently trading at $3,716 after rising 27% over the previous 14 days, despite dropping 3% in tandem with the market during what appears to have been a “sell the news” episode.
The CEO of MN Trading, Michael Van de Poppe, predicted that in the coming months, ETH will increase by an additional 60% to at least $6,000.
The price of Ethereum might reach $5,500–6,500 per Eth if it reaches 0.08 BTC in the near future and Bitcoin either stabilizes at the current levels or reaches a somewhat higher all-time high. stated Van de Poppe.
Inflows of Institutional Investors
For Ethereum holders, Thursday’s action from the SEC is encouraging following months of slow token appreciation and anxiety over whether the ETF approval would be approved.
Investors predict that institutional investors who would prefer to hold an ETF—which makes use of established financial infrastructure—than hold cryptocurrencies directly will inject billions of dollars into spot ETH ETFs.
The Block’s statistics indicates that since their adoption in January, assets drawn by Bitcoin ETFs have amounted to almost $40 billion.
Standard Chartered and QCP
QCP Capital, a cryptocurrency investing company based in Singapore, has also highlighted the possibility of a 60% price surge. The company stated in a Thursday Telegram broadcast that Ether might cost $6,000 if the Ethereum ETF were to follow the Bitcoin ETF movements following its January approval.
The goal set by Standard Chartered is greater; in a research note released last week prior to the ETF clearance, the company predicted that ETH could reach $8,000 by the end of this year and $14,000 by 2025.
How much Ethereum will accelerate is unknown. But now that the listing has begun happening, a new all-time high is approaching,” Van de Poppe continued.
His opinions were in line with those of Wes Levitt, co-chief investment officer of the digital asset company Transform Holdings.
Additionally, Levitt disclosed to The Defiant that he anticipates a price tag of around $6,000.
According to Levitt, the beginning of ETH ETF trading—not just the rumors of it—should be sufficient to propel ETH to a new all-time high. The price is predicted to surge if inflows resemble those of the BTC ETFs, which have enjoyed tremendous success among investors.
Investors should position themselves long Ethereum for the foreseeable future, according to Van de Poppe and Levitt. In fact, Von De Poppe disclosed that, given Bitcoin’s slower rate of appreciation, he prefers Ethereum in his portfolio.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
