Crypto expert Anthony Sassano has offered a bullish outlook for the Ethereum ecosystem, predicting that Ethereum could reach a new all-time high this year. Sassano specifically suggested that Ethereum could rise to as high as $10,000 this year, particularly if the hype around Ethereum Spot ETFs gets “ahead of itself”.
These ETFs are expected to be the next to receive approval from the Securities and Exchange Commission (SEC), which could be a significant catalyst for a substantial increase in Ethereum’s price. Even if the $10,000 price level isn’t achieved, Sassano believes that Ethereum could still rise to as high as $6,000 before the year ends.
Sassano’s bullish stance on Ethereum is based on the belief that the cryptocurrency will attract significant institutional interest due to the yield it offers. As a proof-of-stake network, Ethereum allows investors to stake their ETH tokens and earn rewards. This institutional interest is expected to be further driven by the launch of Ethereum Spot ETFs. Sassano also suggested that these yields will give Ethereum an advantage over Bitcoin.
Interestingly, crypto analyst Altcoin Daily had previously stated that Ethereum hitting $10,000 was “programmed”, citing the higher yields on the network as one of the reasons. However, unlike Sassano, Altcoin Daily did not provide a timeline for when this price level would be reached.
Ethereum rallied following the SEC’s approval of the Spot Bitcoin ETFs on January 10, while Bitcoin didn’t see much action. This could suggest that the market is already shifting its focus to the Ethereum Spot ETFs. It also indicates that the Bitcoin market was likely already priced in before the approval was announced.
If this is the case, Ethereum, the second-largest crypto token by market cap, could start to see significant gains ahead of a potential approval of the Ethereum ETFs in May. This would be similar to what happened with Bitcoin, which saw a resurgence on the back of rumors about the Spot Bitcoin ETFs. At the time of writing, Ethereum is trading at around $2,580, down in the last 24 hours, according to data from CoinMarketCap.
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| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Altcoin Daily, Anthony Sassano |
| Companies | Securities and Exchange Commission, CoinMarketCap, NewsBTC, Tradingview.com, Cointribune |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
