Cryptocurrency analyst and trader bitcoin-could-retrace-to-9000-if-it-breaks-below-this-one-key-level/” rel=”nofollow”>Tyler Durden has revealed his bullish sentiment towards ethereum (eth). The analyst suggested that ethereum-to-10000-programmed/” rel=”nofollow”>eth rise was inevitable and that it was better for merchants to go with the flow.
ethereum will rise to $10,000
bitcoin-could-retrace-to-9000-if-it-breaks-below-this-one-key-level/” rel=”nofollow”>Durden mentioned in an x (formerly twitter) x.com/TylerDurden/status/1802460911132967363″ rel=”nofollow”>mail that ethereum at $10,000 is the “most asymmetric bet” in crypto today. He further stated that “as annoying as it is, it is simply the way the chips have fallen,” suggesting that ethereum-immediately-rally-after-spot-etf-approval/” rel=”nofollow”>The rise of eth At this price level it was inevitable. He also hinted that he would bet on eth regardless of how he felt about the crypto token, as he noted that traders “trade with the market” and not their emotions.
Related reading
The analyst suggested that ethereum-spot-etfs-trading/#:~:text=Bloomberg%20analyst%20James%20Seyffart%20has,approval%20would%20come%20this%20week.” rel=”nofollow”>ethereum Spot ETF will be key in eth rising to $10,000. He claimed that Wall Street went to great lengths to ensure that ethereum ETFs were approved, including the exchange of ethereum as a security. Therefore, he believes that these institutional investors will ensure that they make as much money as possible with these funds while increasing the price of ethereum.
Other analysts have also shared similar sentiments as Durden as they predict that ethereum Spot ETFs will contribute to a massive eth rally. crypto analysts Ash crypto and Eljaboom also recently predicted that eth would rise to $10,000 thanks to these funds. Ash crypto stated that it is only a “matter of time” before ethereum reaches this price level, and ethereum Spot ETFs are expected to begin trading soon enough.
Altcoin Daily crypto Analysts Too ethereum-to-10000-programmed/” rel=”nofollow”>previously mentioned that eth at $10,000 is “scheduled” and mentioned the ethereum Spot ETFs as one of the reasons why they believe the crypto token could rise to this price level. According ethereum-spot-etf-experts-weigh-in-on-selling-point/” rel=”nofollow”>Eric Balchunas, Bloomberg analystThese Spot ethereum ETFs could start trading on July 2.
These funds are expected to contribute to the parabolic rise of eth due to the significant inflows they could bring to the ethereum ecosystem. crypto research company K33 predicts these funds could attract between $3.1 billion and $4.8 billion in net inflows within the first five months of trading.
Why it is not worth betting against eth
Durden alluded to the United States Securities and Exchange Commission (SEC) decision to abandon its research against eth to further emphasize why betting on ethereum was an obvious play. ethereum developer Consensys revealed in an x post that the ethereum-wins-sec-ends-securities-investigation/” rel=”nofollow”>SEC Enforcement Division had notified them that they were closing the investigation into whether eth was a security.
Related reading
They added that this means that the SEC would no longer file charges alleging that the sale of eth is a securities transaction. The potential SEC lawsuit against ethereum was expected to be a major catalyst that could drive down the price of eth, as well as the The SEC lawsuit against Ripplewhich believed have had a negative impact on the price of XRP.
However, since the SEC has chosen not to file charges against ethereum, the price of eth appears poised to take off as this development adds to the bullish narrative around the crypto token.
Featured image created with Dall.E, chart from Tradingview.com
