crypto expert Anthony Sassano has provided a bullish narrative for the ethereum-buterin-advocates-increase-in-gas-limits/” rel=”nofollow”>Ethereal ecosystem. Based on this, he believes that ethereum could reach a new all-time high (ATH) this year. The analyst also predicted ethereum-to-10000-programmed/” rel=”nofollow”>What eth price level? could hit in particular.
eth could rise as much as $10,000 this year
Sassano fixed that eth could reach $10,000 if the ethereum-spot-etf/” rel=”nofollow”>ethereum Spot ETF the exaggeration was getting ahead of himself. These ETFs are He is believed to be next in line. for an approval order from the Securities and Exchange Commission (SEC). That could explain why the crypto expert has chosen them as the catalyst for this massive increase in the price of eth.
Meanwhile, even if the $10,000 price level is not reached, Sassano believes eth could still rise to as high as $6,000 before the year is over. Before making these price predictions, he had explained why he was so bullish on the ethereum ecosystem. According to him, ethereum is going to generate a lot of interest from institutions due to the performance it offers them.
ethereal, ethereum-merge-the-past-the-present-and-the-future/” rel=”nofollow”>be a proof of stake network, gives investors the opportunity to stake their eth tokens and get some rewards in return. This institutional interest in ethereum will be further boosted by the launch of ethereum Spot ETF, Sassano said. He further suggested that these returns will also give ethereum an advantage over bitcoin.
Interestingly, crypto analyst Altcoin Daily had ethereum-to-10000-programmed/” rel=”nofollow”>before now said that eth hitting $10,000 was “scheduled.” As one of the reasons for his claim, he alluded to the network's higher returns. However, unlike Sassano, Altcoin Daily did not suggest a timeline for when the crypto token will reach this price level.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/01/Vitalik-Buterin39s-New-Proposal-Draws-Criticism-From-Ethereum-Developers-Here39s" alt="Tradingview.com ethereum Price Chart” width=”3266″ height=”1530″ loading=”lazy”/>
eth price crosses $2,600 resistance | Source: ETHUSD on Tradingview.com
Is market attention focusing on ethereum?
eth recovered after the bitcoin-etfs-approved-by-us-sec/” rel=”nofollow”>SEC approval of bitcoin Spot ETFs on January 10, while bitcoin did not see much action. That could suggest that the market was already turning its attention to ethereum spot ETFs. It also shows that the bitcoin market bitcoin-etf-approval-sell-the-news-event/” rel=”nofollow”>it was probably already discounted before approval came.
If that's the case, the second-largest crypto token by market cap could start posting some major gains ahead of a possible approval of the ethereum ETF in May. This would be something similar to what happened with bitcoin, which resurfaced following rumors involving bitcoin Spot ETFs.
At the time of writing, eth is trading at around $2,580, down in the last 24 hours, according to ethereum/” rel=”nofollow”>data from CoinMarketCap.
Featured image from Cointribune, chart from Tradingview.com
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