Could the price of Ethereum reach $6,000?
QCP Capital Predicts Ethereum ETF Spot Approvals Could Drive Prices Higher
Cryptoasset trading firm QCP Capital suggested that if Ethereum spot exchange-traded funds are approved in the US, the price of ether could rise 60% in the coming weeks to around $6,000, taking into account account Bitcoin Spot ETFs.
Bitcoin rose 66% from around $44,500 to a high of $73,800 in the two months following the Securities and Exchange Commission's approval of Bitcoin spot ETFs on January 10.
âAll eyes are on the ETH ETF deadline later today. With Friday's implied volatility above 100%, the market is expecting fireworks,â analysts wrote this morning on Telegram's QCP Broadcast channel. ââ VanEck ETF has been listed by DTCC. âWe believe an approval is now very likely and they are expected to go on the market next week.â
Implied volatility here refers to the market's forecast of the potential price movement of ether over a specific period derived from options prices on the cryptocurrency.
