NewsBTC
2024-01-12 13:00:07

Crypto Analyst Unveils Bullish End Of Year Predictions For Ethereum

Crypto Expert Anthony Sassano has provided a bullish narrative for the Ethereum ecosystem. Based on this, he believes that Ethereum could hit a new all-time high (ATH) this year. The analyst also went as far as predicting what price level ETH could hit in particular. ETH Could Rise To As High As $10,000 This Year Sassano stated that ETH could hit $10,000 if the Ethereum Spot ETF hype were to get “ahead of itself.” These ETFs are believed to be next in line for an approval order by the Securities and Exchange Commission (SEC). That could explain why the crypto expert has handpicked them as the catalyst for this massive increase in ETH’s price. Related Reading: Is Cardano The Next Solana? Institutional Investors Clamor For ADA Exposure Meanwhile, even if the $10,000 price level isn’t attained, Sassano believes that ETH could still rise to as high as $6,000 before the year runs out. Before making these price predictions, he had explained why he was so bullish on the Ethereum ecosystem. According to him, Ethereum is going to gain a lot of interest from institutions because of the yield it affords them. Ethereum, being a proof-of-stake network, provides an opportunity for investors to stake their ETH tokens and earn some rewards in return. This institutional interest in Ethereum is going to be further driven by the launch of Ethereum Spot ETFs, Sassano opined. He further suggested these yields will also give Ethereum an edge over Bitcoin. Interestingly, crypto analyst Altcoin Daily had before now stated that ETH hitting $10,000 was “programmed.” He alluded to the higher yields on the network as one of the reasons for his assertion. However, unlike Sassano, Altcoin Daily didn’t suggest a timeline for when the crypto token will hit this price level. ETH price crosses $2,600 resistance | Source: ETHUSD on Tradingview.com Is The Market’s Attention Turning To Ethereum? ETH rallied following the SEC’s approval of the Spot Bitcoin ETFs on January 10, while Bitcoin didn’t see much action. That could suggest that the market was already turning its attention to the Ethereum Spot ETFs. It also shows that the Bitcoin market was likely already priced in before the approval came in. Related Reading: Crypto Analyst Reveals Why $0.087 Is A Key Profitable Level To Watch For Dogecoin If that is the case, the second-largest crypto token by market cap could begin to post some major gains ahead of a potential approval of the Ethereum ETFs in May. This would be something similar to what happened with Bitcoin, which resurged on the back of rumors involving the Spot Bitcoin ETFs. At the time of writing, ETH is trading at around $2,580, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Cointribune, chart from Tradingview.com

Holen Sie sich Crypto Newsletter
Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen