As Bitcoin tumbles following the SEC’s approval of ether ETFs, market analysts are closely monitoring the next key levels. Bitcoin’s price prediction indicates a potential bullish trend, with BTC/USD currently trading at $69,042.
This update explores the pivotal support and resistance levels, providing insights into the future movements of Bitcoin amidst the shifting regulatory landscape.
SEC Approves Rule Change for Ether ETFs
The SEC has approved a rule change to allow the creation of exchange-traded funds (ETFs) that invest in ether, one of the largest cryptocurrencies. This decision follows the recent success of bitcoin ETFs, which have seen net inflows surpassing $12 billion. The approval comes just in time, aligning with the SEC’s deadline for the VanEck Ethereum ETF decision.

Companies that sponsor bitcoin ETFs, such as BlackRock, Bitwise, and Galaxy Digital, are also starting the process to launch ether ETFs. However, the SEC’s rule change does not guarantee immediate launches, as it only approves the applications from exchanges to list eight different ether funds. The actual launch dates remain uncertain.
Key Points:
Ether prices rose 2% following the SEC’s decision, after a 20% surge earlier in the week.The SEC’s order approves the listing of eight ether funds but does not set launch dates.Initial ether ETFs are expected to be smaller than bitcoin ETFs, with the Grayscale Ethereum Trust holding about $11 billion in assets.
The approval suggests a potential easing of the SEC’s stance on cryptocurrencies, particularly following the agency’s loss in a lawsuit against Grayscale in 2023. This legal outcome paved the way for the approval of bitcoin ETFs and now ether ETFs. Despite this progress, the SEC’s regulatory approach to crypto remains under political scrutiny.
Ether, the second-largest cryptocurrency, underpins the Ethereum network, which facilitates decentralized finance (DeFi) projects, nonfungible tokens (NFTs), and asset tokenization. However, the new ether ETFs in the U.S. may exclude staking, as the SEC views staking-as-a-service offerings as unregistered securities. This exclusion could reduce the attractiveness of ether ETFs compared to bitcoin ETFs.
Richard Kerr from K&L Gates highlighted that the approval does not apply to other crypto projects on the Ethereum network. Steven Lubka from Swan Bitcoin pointed out that ether ETFs might experience lower demand due to structural differences, such as the lack of staking options.
The approval of ether ETFs marks a notable development in the regulatory landscape for cryptocurrencies, signifying the increasing integration of digital assets into mainstream financial products.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is trading at $69,042, showing a modest increase of 0.45% signalling a bullish Bitcoin price prediction. The pivot point, marked by the green line, is at $68,514, serving as a crucial level for trend direction. Immediate resistance levels are observed at $70,029, followed by $71,458 and $73,299.
On the downside, support levels are at $66,394, $64,947, and $63,490. The Relative Strength Index (RSI) is at 48.93, indicating neutral momentum, while the 50-day Exponential Moving Average (EMA) stands at $67,860, providing significant support.

Bitcoin Price Prediction
The price is bolstered by an upward trendline near the $69,000 level. The formation of a series of doji candles above this level suggests potential buying trends above $68,500.
Both the RSI and EMA support the likelihood of a continued bullish trend. Traders should watch for a break above the immediate resistance at $70,029 to confirm further upward movement.
#btc #btc70k #bitcoin #prediction #trading

Ethereum (ETH) is the second-largest cryptocurrency by market capitalization after Bitcoin. It is a blockchain platform that enables developers to build decentralized applications (dApps) and smart contracts. The ETH token is the native cryptocurrency of the Ethereum blockchain and is used to pay transaction fees and deploy smart contracts. In this article, we will look at the factors that could affect the price of ETH in the coming years and attempt to predict its price at the end of 2023, 2024, and 2025.

Factors Affecting ETH Price

Before we dive into the predictions, it's essential to understand the factors that could influence the price of ETH. The cryptocurrency market is volatile and subject to market forces and sentiment. Here are some of the primary factors that could impact ETH's price in the coming years:

Adoption: The more people use the Ethereum blockchain and the ETH token, the higher its demand and price. The platform's flexibility and ability to support dApps and smart contracts make it an attractive option for developers.

Competition: Ethereum is not the only blockchain platform that offers dApp and smart contract support. Competitors such as Cardano, Binance Smart Chain, and Solana could eat into Ethereum's market share and affect its price.

Regulation: Government regulations could impact ETH's price. Increased scrutiny and unfavorable regulations could negatively affect the token's value.

Network Upgrades: Ethereum is undergoing significant upgrades, such as the move from Proof of Work to Proof of Stake consensus mechanism. These upgrades could enhance the platform's functionality and attract more users, positively impacting ETH's price.

ETH Price Prediction for 2023, 2024, and 2025

While it's impossible to predict the future price of ETH with complete accuracy, we can look at current trends and make educated guesses. Here are some predictions for ETH's price at the end of 2023, 2024, and 2025.

End of 2023: According to analysts at Coin Price Forecast, ETH's price could reach $10,000 by the end of 2023. This prediction is based on current market trends and the assumption that the cryptocurrency market will continue to grow.

End of 2024: By the end of 2024, Coin Price Forecast predicts that ETH's price could reach $13,000. This prediction is based on the expectation that ETH's adoption will continue to grow, driving up its demand and price.

End of 2025: Coin Price Forecast's prediction for ETH's price at the end of 2025 is $16,000. This prediction is based on the assumption that Ethereum will continue to improve its platform and attract more users, leading to an increase in demand for the ETH token.

Conclusion

The future of ETH's price is subject to various factors, including adoption, competition, regulation, and network upgrades. While it's impossible to predict the future with complete accuracy, current market trends and analyst predictions suggest that ETH's price could continue to rise in the coming years. By the end of 2023, ETH's price could reach $10,000, with predictions of $13,000 and $16,000 by the end of 2024 and 2025, respectively. It's important to note that the cryptocurrency market is volatile, and investors should always do their own research and consider their risk tolerance before investing.

#ETH #Ethereum #crypto2023 #prediction #fundamental