Ethereum Price Analysis: To Buy or Not To Buy Before The ETF?
As the bull run in Ethereum continues for the second day with a 3.49% jump, the altcoin asserts dominion over the $3700 level. Amidst the bull run, the key factor remains the Ethereum Spot ETF and the U.S. SEC.
The market sentiments anticipate a positive outcome as the U.S. SEC is scheduled for VanEck’s application hearing on the Ether ETF. A positive hearing will boost the institutional and retail investment into the asset, just like Bitcoin or Gold, due to the additional credibility. #ETHETFS
With the broader market and the underlying demand teasing the $4,000 breakout for Ether, let’s have a closer look at its chart. Will the ETH price continue the bull run, or will the demand fade after a negative outcome from the SEC?
Ethereum ETF Gets Approved
If the U.S. SEC approves the Ethereum ETF this Thursday, the market can go ballistic and give massive returns in altcoins linked to Ethereum. The ETH price itself could see an outstanding rise in demand, propelling it well above $4600 for a new all-time high.