Ethereum ETFs Could Drive Price Surge in 2024
As 2024 approaches, you may find Ethereum (ETH) to be a main topic of interest for crypto enthusiasts. A renowned analyst, Pentoshi, has suggested that the potential approval of spot Ethereum ETFs next year could result in a price surge of more than 50%.
Ethereum ETFs Gain Traction
Pentoshi states that the potential approval of an Ethereum ETF in 2024 could be similar to the Bitcoin ETF saga, which resulted in a market rally. There’s a temporary snapshot of hype taking place in other ecosystems, but the consensus is that Ethereum is gearing up for a robust performance in the first quarter of 2024.
Technical analysis indicates that Ethereum may outpace Bitcoin, contributing to the positive outlook for the cryptocurrency in 2024. Van de Poppe’s chart suggests that the ETH/BTC pair is expected to rally toward its target of 0.12 BTC, equivalent to $5,243, by April next year.
Hot Take: Ethereum’s Potential in 2024
Ethereum may be on the brink of a significant surge in value as the potential approval of spot Ethereum ETFs in 2024 could result in a price surge of more than 50%. This could make Ethereum a focal point for crypto enthusiasts, driven by a catalyst that often takes a backseat to Bitcoin’s market narratives.
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