Standard Charter Analyst Kendrick Geoffrey predictions after #ETHETF
Simply Explained
1. Future ETFs for Other Cryptos: Analyst Geoffrey Kendrick predicts that other cryptocurrencies like Solana (SOL) and Ripple (XRP) may get their own ETFs by 2025.
2. Political Support for Crypto: There's growing political support for the crypto industry in the U.S., marking a significant shift.
3. Bitcoin and Ether Dominance: Bitcoin (BTC) and Ether to dominate the market, with BTC potentially reaching $150,000 by the end of the year.
4. Inflow Expectations: Spot bitcoin ETFs are anticipated to attract significant investment, and ether ETFs could see inflows of $15-$45 billion within a year.
5. Trading Timeline: ETH ETFs are expected to start trading next month, pending final approvals.
6. Price Projections: Kendrick maintains his ETH price target of $8,000 by the end of the year.
7. Market Validation: The approval of ETH ETFs by the SEC further validates the crypto industry.
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