Here is What We Can Expect From Ethereum (ETH)
Donald Trump's victory has sparked a wave of enthusiasm in the cryptocurrency market, leading to new records for Bitcoin (BTC).
This surge in Bitcoin’s price has also positively impacted altcoins, with Ethereum ( ETH ), which had been struggling for some time, surpassing the $2,900 mark. Analysts believe that Ethereum’s price could continue to climb, driven by an increased appetite for risk following Trump’s presidential win.
Some analysts, including those from Bitfinex, predict that Ethereum could reach $3,200 in the short term, fueled by a surge in investor interest and potential ETF inflows following the Republican victory. They believe Ethereum is emerging from a long consolidation phase and expect a rally in the coming months.
The analysts note that spot market purchases have increased, contributing to higher volatility, while open positions in Ethereum have surged, with many on the short side. This combination of factors signals a potential upward movement for ETH in the near future.
READ MORE:
Block Inc. Shares Slide After Q3 Revenue Miss and Flat Bitcoin EarningsAdditionally, Nansen analyst Edward Wilson suggests that a staked Ethereum ETF could be launched in the US, which would further fuel Ethereum’s price. If such an ETF is approved in a pro-crypto regulatory environment under Trump, Ethereum could see renewed momentum, potentially surpassing its previous all-time high of $4,800.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Will List Shoggoth (SHOGGOTH) in the Innovation, AI and Meme Zone!
We are thrilled to announce that Shoggoth (SHOGGOTH) will be listed in the Innovation, AI and Meme Zone. Check out the details below: Deposit Available: Opened Trading Available: 15 November 2024, 13:00 (UTC) Withdrawal Available: 16 November 2024, 14:00 (UTC) Spot Trading Link: SHOGGOTH/USDT Intro
0% fee EUR deposit — Share 1 million USDT!
First come, first served: Users can earn up to 25% rebate in USDT when depositing at least $200 worth of EUR via bank deposit with 0% fees! Join Promotion period: November 15, 15:59:59 – December 14, 15:59:59 (UTC) Rules Register using the Join button. Deposit at least $200 worth of EUR via bank de
Don’t be delusional: Decentralization doesn’t compensate for regulation