Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst and trader Tyler Durden has revealed his bullish sentiment towards Ethereum (ETH). The analyst suggested that the ETH rise was inevitable and that it was better for traders to go with the tide.\u00a0 Ethereum Is Set To Rise To $10,000 Durden mentioned in an X (formerly Twitter) post that Ethereum to $10,000 is the \u201cmost asymmetric bet\u201d in crypto today. He further stated that \u201cas annoying as that is, [it\u2019s] just the way the chips have fallen,\u201d suggesting that ETH\u2019s rise to this price level was inevitable. He also hinted that he would bet on ETH regardless of how he felt about the crypto token, as he noted that traders \u201ctrade the market\u201d and not their emotions.\u00a0 Related Reading: Bitcoin Price Drops Below Critical Support Level Following Rejection At $70,000 The analyst suggested that the Spot Ethereum ETFs will be key in ETH’s rise to $10,000. He claimed that Wall Street made great efforts to ensure that the Ethereum ETFs were approved, including changing Ethereum from a security. As such, he believes that these institutional investors will ensure that they make as much money as they can from these funds while pumping Ethereum\u2019s price.\u00a0 Other analysts have also shared similar sentiments to Durden\u2019s as they predict that the Spot Ethereum ETFs will contribute to a massive rally for ETH. Crypto analysts Ash Crypto and Eljaboom also recently predicted that ETH would rise to $10,000 thanks to these funds. Ash Crypto stated that it is just a \u201cmatter of time\u201d before Ethereum reaches this price level, with the Spot Ethereum ETFs expected to begin trading soon enough.\u00a0 Crypto analysts Altcoin Daily also previously mentioned that ETH to $10,000 is \u201cprogrammed\u201d and mentioned the Spot Ethereum ETFs as one of the reasons they believe that the crypto token could rise to this price level. According to Bloomberg analyst Eric Balchunas, these Spot Ethereum ETFs could begin trading by July 2.\u00a0 These funds are expected to contribute to ETH’s parabolic rise because of the significant inflows they could bring into the Ethereum ecosystem. Crypto research firm K33 predicts these funds could attract between $3.1 billion and $4.8 billion in net inflows within the first five months of trading.\u00a0 Why It\u2019s Not Worth Betting Against ETH Durden alluded to the US Securities and Exchange Commission\u2019s (SEC) decision to drop its investigation against ETH to further emphasize why betting on Ethereum was an obvious play. Ethereum developer Consensys revealed in an X post that the Enforcement Division of the SEC had notified them that they were closing the investigation into whether ETH was a security.\u00a0 Related Reading: XRP Enters Triangle Formation: Analyst Predicts Rise To $200 Amid 300% Surge In Volume They added that this means that the SEC would no longer be bringing charges alleging that the sale of ETH is a securities transaction. The SEC\u2019s potential lawsuit against Ethereum was expected to be a major catalyst that could suppress ETH\u2019s price, just like the SEC\u2019s lawsuit against Ripple, which is believed to have had a negative impact on XRP\u2019s price.\u00a0 However, with the SEC opting against bringing charges against Ethereum, ETH\u2019s price looks all set for takeoff as this development adds to the bullish narrative around the crypto token.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":625467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1944,89193,8323,92622,16163,1946,10384,84816,7931,6931,8686,78803,89986],"class_list":["post-625437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-etf","tag-etf-news","tag-eth","tag-eth-news-spot-ethereum-etfs","tag-eth-price","tag-ethereum","tag-ethereum-etf","tag-ethereum-etfs","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-spot-ethereum-etf"],"acf":[],"yoast_head":"\n
Ethereum Price To Hit $10,000, \u2018Just The Way The Chips Have Fallen,\u2019 Analyst Says<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n