We asked ChatGPT-4o what the price of ETH might be when the first Ethereum ETF is listed. Here’s what it said:

Ethereum (ETH) has performed well in the 2024 cryptocurrency bull market, but it has struggled to reach its all-time highs again, unlike many other coins, including Bitcoin (BTC).

Currently priced at $3,660.17 with a 65.58% increase this year, Ethereum has faced strong resistance around $3,800 and has failed to stay above this level despite multiple attempts.

However, the approval of spot exchange-traded funds (ETFs) announced on May 23 is expected to attract many new institutional and retail investors to Ethereum, which could change its price trend.

Consulting ChatGPT-4o, Finbold predicts Ethereum's price could jump to $4,750 once the first ETH ETFs are listed. This optimistic view considers the expected influx of investors and the improved market sentiment towards Ethereum after ETF approval.

ChatGPT also considers other factors specific to ETH, such as market dynamics following the 'merge,' to arrive at the $4,750 price target.

However, ChatGPT acknowledges that this prediction is not the only possible outcome. If ETH ETFs bring in more investors than expected and ETH stays above $4,000, the cryptocurrency could rise even higher to $5,000.

Conversely, if many investors take profits after the listing, similar to what happened with the BTC ETF approval in January, Ethereum's price might temporarily dip.

Source: finbold.com