BIG Ethereum News: Will Ethereum Price Reach $10,000? Would you like to buy ETH now?…
So Bernstein, a giant in the world of global asset management, has been quite optimistic lately. They believe the SEC is likely to give the thumbs up on the Ethereum Spot ETF. In this article, we will talk about the possibility of the Ethereum price reaching $10,000 in the coming months. Let’s take a look at this Ethereum price prediction Read the article in more detail.
Ethereum Price Prediction: How has Ethereum price moved recently?
Over the past few weeks, the price of Ethereum has been riding a wave of price increases. At the beginning of 2023/2024, it was sitting well at $2,280. However, as soon as 2024, it soared past $2,600. Of course, there was a slight decline in January, but recently it has bounced back stronger than ever.
Guess what? Ethereum (ETH) hit $3,000 again for the first time since April 2022, right before the entire cryptocurrency industry entered a brutal bear market. Ethereum (ETH) is currently hovering around $3,000 and has posted a solid 3.4% gain over the past 24 hours, according to the latest data from CoinMarketCap. And it soared a whopping 13% last week. It looks like Ethereum is on a winning streak!
Ethereum Price Prediction: Will ETH Price Continue to Rise?
As mentioned earlier, Ethereum has been on fire lately, right? Be prepared, because the fireworks may not be over yet. As Bitcoin approaches all-time highs, altcoins are likely to see gains as well. So, hold on to your hats, as Ethereum’s price explosion could continue for weeks to come.
Especially around the Bitcoin halving. Both Bitcoin and Ethereum could soar once again.
Ethereum Price Prediction: Can Ethereum Reach $10,000 in the Next Months?
Today, Ethereum is seeing increased activity and interest. In particular, prominent Wall Street fund managers are pushing a spot ETH exchange-traded fund (ETF) with the Securities and Exchange Commission.
If these offers are accepted, existing investors will be able to access Ethereum through regulated channels. Major players such as BlackRock, Grayscale and VanEck are eagerly awaiting regulatory approval.
Multinational bank Standard Chartered recently predicted that a spot ETH ETF would likely be approved by May, with prices expected to surge thereafter.
ETH’s network is about to undergo a significant upgrade known as “Dencun”. This improvement introduces “proto-dank sharding” to the blockchain, allowing for faster and more cost-effective transactions. We already predicted that this could push the ETH price above $5000.
Now, the approval of a potential spot ETH ETF would increase the second-largest cryptocurrency’s appeal among conservative institutional investors.
Ethereum, the second-largest cryptocurrency, could become the next cryptocurrency after Bitcoin to receive ETF approval from the U.S. SEC, according to a February 19 report by Bernstein.
After the Spot Bitcoin ETF received approval, many cryptocurrency fans have set their sights on Ethereum for their next ETF. However, due to the SEC’s cautious stance on cryptocurrencies and hesitancy toward Bitcoin ETFs, the future of Ethereum ETFs appears uncertain.
In the Bernstein report, analysts attempted to predict when an Ethereum Spot ETF would receive approval. They noted that the likelihood of approval could increase if large financial players such as Grayscale and Franklin Templeton compete for a spot Ethereum ETF.
If the Ethereum Spot ETF receives approval, the price of Ethereum could rise significantly and hit highs around $10,000. Remember how the price of Bitcoin soared due to anticipation for the Spot Bitcoin ETF? Well, if history repeats itself, we could end up in a similar situation on Ethereum. After the SEC approved the Spot Bitcoin ETF on January 10, the price of Bitcoin surged above $45,000, but fell below $40,000 shortly thereafter.
We could see a similar scenario on Ethereum if the ETF gets approved. As institutional interest grows and ETFs become more widely adopted globally, Ethereum may hit a new all-time high above $10,000.
Bernstein analysts’ research report also supports Ethereum’s strong position for mainstream institutional adoption. They highlight the importance of the cryptocurrency market shifting its focus to Ethereum and the potential to profit following the ETF’s approval and launch.
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