Crypto analyst Anthony Sassano has shared an optimistic outlook for Ethereum’s future, speculating that the cryptocurrency could achieve a new all-time high by the end of the year. Sassano suggests that if enthusiasm around the Ethereum Spot ETF surpasses expectations, Ethereum’s price could reach a remarkable $10,000. This anticipation is grounded in the potential approval of these ETFs by the Securities and Exchange Commission (SEC). Sassano emphasizes their pivotal role in catalyzing a substantial surge in ETH’s value.
Even if the $10,000 target isn’t reached, Sassano remains bullish on Ethereum, predicting a potential rise to $6,000 before the year concludes. His positive sentiment towards the Ethereum ecosystem is rooted in its appeal to institutions, offering lucrative yields through staking on its proof-of-stake network. The imminent launch of Ethereum Spot ETFs is anticipated to further amplify institutional interest, potentially positioning Ethereum favorably against Bitcoin.
Notably, crypto analyst Altcoin Daily previously asserted that ETH hitting $10,000 was predestined, citing the network’s higher yields as a contributing factor. Unlike Sassano, Altcoin Daily refrained from specifying a timeline for this anticipated price milestone.
Recent market dynamics indicate a shift in attention towards Ethereum, with ETH rallying following the SEC’s approval of Spot Bitcoin ETFs on January 10, while Bitcoin experienced limited movement. This shift implies a growing focus on Ethereum Spot ETFs, potentially suggesting that Bitcoin’s market was already factored in before the SEC’s approval. Looking ahead, Ethereum, as the second-largest crypto by market cap, may witness substantial gains in anticipation of potential approval for Ethereum ETFs in May, akin to Bitcoin’s resurgence fueled by Spot Bitcoin ETF rumors.
As of the latest data from CoinMarketCap, ETH is currently trading around $2,580, showing a decrease in the last 24 hours.