Analyst Says Ethereum Price Will Hit $28K Following BlackRock ETF Approval as BTC ETF Token Presale Passes $2M
Ethereum will skyrocket in price should BlackRock’s Ethereum spot ETF gain the SEC’s approval, according to analysts. This will result in more than 10x growth based on its current price.
Meanwhile, the Bitcoin ETF Token presale recently hit $2m as analysts provide 10-100x price predictions.
Unprecedented Institutional Captial Anticipated as Key Price Driver
Ethereum’s price experienced a notable spike in November when the world’s largest asset manager, BlackRock, doubled down on its crypto efforts, filing for an Ethereum exchange-traded fund.
If approved, the ETF would be listed on Nasdaq, opening the door to a broad new audience previously deterred from buying ETH for technical, security, or liquidity reasons.
This would propel cryptocurrency to a legitimate investment opportunity, even for traditional investors. As such, it is no surprise that Ethereum’s price is rising in anticipation, currently at $2.09K, up 15% in the last month.
Yet, some analysts are significantly bullish on where Ethereum could be headed in the upcoming market cycle.
In a breakdown on TheStreet, prominent analyst Austin Arnold said, “The largest asset manager in the world, BlackRock, is now backing both Bitcoin and Ethereum,” suggesting this is of monumental importance for the assets’ future.
He then considered BlackRock’s assets under management (AUM), how much it may allocate to the ETH ETF, and how this could impact the asset’s market cap.
Arnold then discussed a bull case following the ETF approval, contemplating Ethereum could climb to highs of $41,000. However, he stated, “I do not see Ethereum getting that far.”
Instead, the analyst sees a more realistic prediction being $28,000, or $10,000.
“Whether it’s $28,000, $45,000, $10,000, I’d be happy with anything, but I’m a long-term holder,” Arnold concluded.
One of the factors that he highlighted was the difference in Bitcoin’s and Ethereum’s structure, tokenomics, and utility. He explained, “One’s digital gold, it’s aiming to be a store of value. While Ethereum is like digital oil, used to power a global, decentralized supercomputer, build apps. Just like a car needs gasoline to be able to run, Ethereum is the gas that makes the system work.”
The analyst also referenced Ethereum’s burn mechanism, which makes the token deflationary by destroying a small part of each transaction fee. Coupled with the incoming ETF liquidity inflows, Arnold believes this could significantly bolster its price.
However, he understands there is a ceiling to how far it can go in the next market cycle. “$10,000 ETH is the most realistic scenario,” he said.
This represents less than a 5x gain from its current price. While this is a significant return for those with large portfolios, it is unlikely to render sufficient returns for those with limited financial resources.
One alternative with a lot of upside potential is Bitcoin ETF Token, a new trending presale that has raised over $2.1 million in three weeks amid the BlackRock hype.
Stake-to-Earn Bitcoin ETF Token ICO Hits $2M Milestone
Bitcoin ETF Token is a compelling new project that rewards holders in line with key Bitcoin ETF milestones.
The project has allocated 25% of its total supply to be burned as Bitcoin ETFs reach five main targets, creating a sense of scarcity and fear of missing out (FOMO) when the hype is highest.
It also features a 5% burn tax on transactions, reducing by 1% at each milestone. This incentivizes people to hold longer and ensures explosive price action following the project’s IEO.
These factors make Bitcoin ETF Token deflationary, introducing the scarcity principle into the project, which has been a key driver for Bitcoin’s parabolic price action since its launch in 2009.
Another exciting factor is its staking mechanism, rewarding its community and incentivizing users to lock up their tokens, further limiting the available supply.
Holders can garner a 118% staking APY, but they must be quick because this decreases as more users stake their tokens.
The project has experienced significant success lately, with top analysts providing massively bullish predictions. Jacob Bury speculates it will 10x after its launch, while Crypto Boy believes it could 100x.
Visit Bitcoin ETF Token Presale
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post Analyst Says Ethereum Price Will Hit $28K Following BlackRock ETF Approval as BTC ETF Token Presale Passes $2M appeared first on CryptoPotato.
