So, Bernstein, the big shots in global asset management, seem pretty upbeat lately. They’re thinking there’s a good chance the SEC might just give the thumbs up to: Ethereum Spot ETF. In this article, we will talk about the possibility of the Ethereum price reaching $10,000 in the next few months. Let’s take a look at this Ethereum price prediction article in more detail.
Over the past few weeks, Ethereum price has been riding a wave of price hikes. At the turn of 2023/2024, it was sitting pretty at $2,280. But as soon as 2024 hit, it skyrocketed past $2,600. Sure, there was a bit of a dip in January, but lately, it’s been bouncing back stronger than ever.
Guess what? Ethereum (ETH) just hit $3,000 again for the first time since April 2022, right before the whole crypto scene took a nosedive into a brutal bear market. As per the latest data from CoinMarketCap, Ethereum (ETH) is currently sitting pretty at $3,000, marking a solid 3.4% rise over the past 24 hours. And get this, over the last week, it’s surged by a whopping 13%. Looks like Ethereum’s on quite the winning streak!
Ethereum Price Prediction: Will the price of ETH keep going up?
As mentioned earlier, Ethereum’s been on fire lately, right? And brace yourself, because the fireworks might not be over just yet. With Bitcoin inching closer to its all-time high, it’s likely to pull the altcoins along for the ride. So, hold onto your hats, because Ethereum’s price explosion could very well keep on going in the coming weeks.
Especially around the time of the Bitcoin Halving. Both Bitcoin and Ethereum might just skyrocket once more.
Ethereum Price Prediction: Could Ethereum hit $10,000 in the next few months?
Today, Ethereum is seeing increased activity and heightened interest. Notably, prominent Wall Street fund managers are pushing for spot ETH exchange-traded funds (ETFs) with the Securities and Exchange Commission.
If these proposals are accepted, traditional investors could access Ethereum through regulated channels. Major players such as BlackRock, Grayscale, and VanEck are eagerly awaiting regulatory approval.
Standard Chartered, a multinational bank, recently forecasted that a spot ETH ETF could potentially be approved by May, anticipating a subsequent price surge.
ETH’s network is on the brink of a crucial upgrade known as “Dencun.” This enhancement will introduce “proto-dank sharding” to the blockchain, offering the potential for faster and more cost-effective transactions. We had already predicted that this could push the ETH price beyond $5000.
Now, approval of a potential spot ETH ETF would increase the appeal of the second-largest cryptocurrency among conservative institutional investors.
There’s a report from Bernstein dated February 19th saying Ethereum, the second-biggest crypto out there, could be the next one, after Bitcoin, to score an ETF approval from the US SEC.
After the Spot Bitcoin ETF got the thumbs up, lots of crypto fans had their sights set on Ethereum for the next ETF. But with the SEC’s cautious stance on crypto and their hesitancy with Bitcoin ETFs, the future of an Ethereum ETF seems up in the air.
In the Bernstein report, analysts tried to predict when an Ethereum Spot ETF might get the green light. They pointed out that having big financial players like Grayscale and Franklin Templeton vying for a Spot Ethereum ETF could improve the chances of approval.
If Ethereum Spot ETFs get the nod, we might see Ethereum’s price shoot up big time, possibly hitting highs of around $10,000. Remember how the anticipation around the Spot Bitcoin ETFs sent Bitcoin prices soaring? Well, if history repeats itself, we could be in for a similar ride with Ethereum. After the SEC gave the green light to Spot Bitcoin ETFs on January 10, Bitcoin’s price skyrocketed to over $45,000, but then it took a dip back below $40,000 shortly after.
We could be looking at a similar scenario playing out for Ethereum once its ETF gets the green light. As institutional interest grows and the ETF drives broader adoption worldwide, Ethereum might just break through to new all-time highs above $10,000.
The research report from Bernstein analysts also backs Ethereum’s strong position for mainstream institutional adoption. They stress the importance of the crypto market shifting focus to Ethereum, highlighting its potential for gains post-ETF approval and launch.
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