Economist predicts Ethereum ATH, Bitcoin surge ahead 🚀📈

Economist Predicts Ethereum and Bitcoin Price Surges

A closely followed trader and economist, Alex Krüger, suggests that Ethereum (ETH) is poised to reach new all-time highs (ATHs) driven by a significant catalyst. Krüger indicates that the potential approval of a spot ETH exchange-traded fund (ETF) could propel the leading altcoin to soaring heights, with Bitcoin (BTC) also projected to see substantial gains by the end of 2024.

Key Catalyst for Ethereum’s Surge

Krüger, with a substantial following on social media, shares insights that an ETH ETF approval is imminent.

This increased likelihood follows a surge of over 20% in the price of ETH.

Bitcoin is also expected to see significant growth in the near future.

According to Krüger’s analysis:

Bitcoin is anticipated to experience a surge by the end of the year.
Initially, Ethereum may underperform due to ETF rejection but is poised for substantial gains post-US elections.
The removal of SEC Chair Gary Gensler and subsequent ETF approval in 2025 could be pivotal for Ethereum’s upward trajectory.

Market Sentiment and Price Movements

The recent spike in ETH prices indicates a positive market sentiment towards an ETF approval.

An ETH ETF approval could expedite Ethereum’s journey to new all-time highs (ATHs).

At the time of writing, Ethereum is valued at $3,809, showcasing a remarkable 22% increase in the past 24 hours. The cryptocurrency’s previous all-time high stood at approximately $4,900 in November 2021.

Political Influence on SEC Decisions

Krüger speculates that political pressures may be steering the SEC towards approving ETH ETF applications.

The upcoming US presidential election in November could be a crucial factor influencing regulatory decisions.

He suggests that recent shifts in the SEC’s stance regarding ETF approvals could be politically motivated, especially in light of the Democratic party’s leadership and the broader political landscape.

Hot Take: Analyst’s Insights on Cryptocurrency Trends

Alex Krüger’s analysis underscores a bullish outlook for Ethereum and Bitcoin, with potential catalysts paving the way for significant price surges. While Ethereum’s imminent ETF approval could lead to ATHs, Bitcoin is expected to witness substantial growth by the year-end. Political influences on regulatory decisions are also shaping market dynamics, offering valuable insights for crypto traders and enthusiasts.

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