- Ethereum could quadruple from current levels, according to CoinSignals
- The price of the second-largest token floats near $3,300 per token
- Ether ETFs launched for trading last week, catching fresh investor excitement
Ether Price Could Skyrocket to $15,000 a Pop
Ethereum could skyrocket to levels of more than $15,000. That is the new prediction of market analysis platform CoinSignals. Behind the formidable rally, that stands to quadruple the price of Ether, would be a myriad of factors. But perhaps the biggest contributor to the price increase will be institutional interest.
Ethereum exchange-traded funds, or ETFs, launched for trading on Wall Street last week when a total of nine funds got permission to roll out for fresh deals. A total of eight issuers, including asset managers BlackRock and Fidelity and crypto trading house Grayscale, are behind the novel asset class.
With that said, markets are optimistic for the outlook of Ethereum. The second-largest token was trading near $3,300 per token early Tuesday as crypto traders and digital asset enthusiasts were digesting recent developments over at the crypto corner.
Bitcoin Steady After Trump’s Bullish Comments
Bitcoin, the world’s largest crypto asset, got a boost over the weekend when former President Donald Trump praised the token and issued a highly bullish prediction. He wants all the remaining Bitcoin to be mined in the US and vowed to support crypto-friendly legislation that would benefit crypto companies and projects running on the blockchain.
Further, he pledged to fire the current chairman of the Securities and Exchange Commission, Gary Gensler. Gensler has been taking an aggressive stance toward crypto regulations and Trump’s pro-Bitcoin comments won him the support of digital asset enthusiasts.
Bitcoin, Ether Get Their Own ETFs
Moreover, now that Bitcoin and Ether both have their own investment vehicles on Wall Street — exchange-traded funds — crypto markets are excited to see how big investors and professional money managers warm up to crypto sitting next to traditional assets such as stocks, currencies, bonds, and commodities.
Early on Tuesday, Bitcoin prices were fairly flat and floating sideways near $67,000 per token. The price of Bitcoin is looking to wrap up the month of July with a modest 7% increase from $62,700 to levels of just under $67,000 a pop.
