ETH price about to reach new ATH?
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Last week was a memorable time for the crypto community. More than four months after spot Bitcoin ETFs were approved, the U.S. Securities and Exchange Commission (SEC) has given the green light to eight Ethereum spot ETFs.
The crypto market's reaction to the event has been a roller coaster due to the incidents surrounding the approval. Both Bitcoin (BTC) and Ether (ETH) experienced significant and sudden volatility after the SEC's sudden U-turn.
ETH could surprise the crypto market by reaching a new all-time high before Bitcoin returns to the price discovery zone.
Analyst Michaël van de Poppe has forecast a potential move for ETH/USD:
“Bitcoin dominance may have peaked this cycle at 58%. Valuations of altcoins are currently super low compared to Bitcoin. Ethereum is likely on its way to the next ATH.”
