#Ethereum(ETH): See 3 reasons to bet on higher prices for 2024
FEBRUARY 7, 2024 6:00 PM
How to buy Ethereum
Cryptocurrency prices await movement in Bitcoin (BTC), whose price is stuck below $43,000, but support at $42,000 remains stable. On the other hand, there is a strong conviction that Ethereum (ETH) could close the week above the $2,400 resistance, thus opening the way to reach $2,700.
Currently, markets do not have the strength they have had since October as the euphoria over the approval of Bitcoin ETFs has dissipated. According to Santiment, “a notable bearish sentiment has gripped the market this week.”
ETH peaked at $2,700 in January but has since fallen by more than 10%. But the market maintains a generally positive outlook supported by several factors, including the upcoming network upgrade. Furthermore, Ethereum ETFs are under review by the SEC, which could approve them and cause new bullish impulses.
Whether ETH will continue the upward trend seen in the fourth quarter of last year is something investors don't know. However, with the schedule that ETH has, a bullish result is more likely in 2024. See now the three reasons that could lead ETH to stand out this year.
🚀 Looking for the next 100x coin?
Check out our Pre-Sales suggestions to invest now
Ethereum Spot ETF Approval
The first reason is the possible approval of the first Ethereum ETFs in the United States. With the approval of BTC funds in January, investors quickly turned their attention to ETH. Despite its questionable status in the eyes of regulators like the Commodity Futures Trading Commission (CFTC), ETH is likely to go the way of Bitcoin.
Two years after the initial approval of the first BTC futures ETF in 2021, the ETH futures ETF received the green light in the US in 2023. Fast forward to 2024, 11 Bitcoin spot ETFs have hit the market.
$ETH #Write2Earn #criptobrasil