Crypto analyst and trader Tyler Durden He revealed his bullish sentiment on Ethereum (ETH). The analyst suggested that The rise of ETH was inevitable It is better for traders to go with the flow.
Ethereum price is set to rise to $10,000
Durden Marked with an X (formerly Twitter) mail Ethereum hitting $10,000 is the “most mixed bet” in the cryptocurrency space today. He also stated that “although this is annoying, the way the chips fell,” suggests that ETH rise To this level of prices it was inevitable. He also hinted that he would bet on ETH regardless of how he feels about the cryptocurrency, noting that traders “trade the market” and not their emotions.
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The analyst suggested that Ethereum ETFs It will be a key factor in ETH rising to $10,000. He claimed that Wall Street went to great lengths to ensure approval of Ethereum ETFs, including changing Ethereum out of securities. As such, he believes that these Institutional investors They will ensure that they make as much money as possible from these funds while pumping up the price of Ethereum.
Other analysts have also shared similar sentiments to Durden's as they predict that Spot Ethereum ETFs will contribute to a massive rally for ETH. Cryptocurrency analysts Ash Crypto and Eljaboom also I predicted recently ETH will rise to $10,000 thanks to this money. Ash Crypto stated that it is only “a matter of time” before Ethereum reaches this price level, and Spot Ethereum ETFs are expected to begin trading soon.
Altcoin Daily cryptocurrency analysts too which were previously mentioned That ETH to $10,000 is “programmed” and they cited Spot Ethereum ETFs as one of the reasons they believe the cryptocurrency token can rise to that price level. according to Bloomberg Analyst Eric BalchunasSpot Ethereum ETFs could start trading by July 2.
These funds are expected to contribute to the equivalent rise of ETH due to the large inflows they can bring into the Ethereum ecosystem. Cryptocurrency research company K33 It expects these funds to attract between $3.1 billion and $4.8 billion in net inflows during the first five months of trading.
Why it's not worth betting against ETH
Durden alluded to the United States Securities and Exchange Commission (SEC) Its decision to drop the investigation against ETH further underscores why betting on Ethereum is an obvious play. Ethereum developer Consensys revealed in an X post that Enforcement Division of the Securities and Exchange Commission I informed them that they would close the investigation into whether ETH was a security.
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They added that this means the SEC will 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 suppress the price of Ethereum, just like the price of Ethereum. A lawsuit filed by the Securities and Exchange Commission against Ripplethat Believes It had a negative impact on the price of XRP.
However, with the Securities and Exchange Commission (SEC) choosing not to file charges against Ethereum, the price of Ethereum appears ready to take off as this development adds to the bullish narrative around the cryptocurrency token.
Featured image created with Dall.E, chart from Tradingview.com