Ethereum price approaches $3k

[Bright0515]

https://cryptoslate.com/ethereum-price-approaches-3k-amidst-spot-etf-anticipation-dencun-upgrade
Analysts of Bernstein believes a spot ETH ETF is a near certainty within one year.

The price of Ethereum (ETH) approached $3,000 on February.19 amidst anticipation concerning development that are expected to occur in the coming months. The Ethereum is ranked #2 (no: 2) by market cap and the price is up to 2.69% over the past 24 hours. Ethereum has a market capitalization of $356.82 billion with a 24 hours trading volume of 15.44 billion dollars.

Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year. This is a very good increase in the crypto world as another trading market will be approved soon and the awaited miners of this Ethereum will finally benefit from another crypto currency, especially now that dollar has a very high value in the trading market.

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[Ben Barubal]

     It seems like it will take two years before ETH returns to such a price in the market. I think the reason why Ethereum rallied today is because it has an upcoming ETH spot ETF this coming month of May 2024.

    And maybe the positive news about ETH in this field of crypto space has brought it, so it is not surprising that it is called the queen of cryptocurrency. And it is possible for this ETH to reach 4000$ ATH this coming bull run in the altcoins season for sure.

[bittraffic]

ETF approved this May will make the price go further than $5K by this year. But just like when the BTC ETF spot was approved, I think the price will also dive first giving investors a good buying price. Stack up your USD for the preparation. I think most of the ERC tokens will also be shooting to da moon.

Besides the ETH ETF that this article is talking about, it also mentions ETH staking from platforms like Coinbase and Lido and the rest which could cause a backlash.

[batang_bitcoin]

Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year.

There is a chance but I don't think that chance will be more than 5%. There's still an uncertainty with that approval and that's why if that analyst thinks that it's up for that approval, it's best not to think that it will even get an approval. Take the example of Bitcoin. It took years before it had even got an approval but maybe they've applied principles from that experience for it to get approved. But as for me, I don't think that it's going to get approved.

[criptoevangelista]

ETF approved this May will make the price go further than $5K by this year. But just like when the BTC ETF spot was approved, I think the price will also dive first giving investors a good buying price. Stack up your USD for the preparation. I think most of the ERC tokens will also be shooting to da moon.

Besides the ETH ETF that this article is talking about, it also mentions ETH staking from platforms like Coinbase and Lido and the rest which could cause a backlash.

I agree with this, the approval of Ethereum ETFs will cause the entire ecosystem to explode in price, perhaps we will see the price soar in March or April, the market always anticipates movements, so it is always good to stay alert to take advantage of all opportunities.

This bull market for me will be the last big opportunity for explosive prices.

[Sophokles]

ETH was underperforming compared to bitcoin. Look at BTCETH price chart and you will see that the price of ETH actually biting down in there for a long time. That means the bitcoin price performed better than ETH. After the approval of the bitcoin ETF the industry is more focused on the approval of the ETH ETF. Also ETH is having a major upgrade which will lower the gas cost for all the ETH layer 2. All this is bullish news for ETH and this is the reason the price of it is going up slowly.

[cryptoaddictchie]

Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year. This is a very good increase in the crypto world as another trading market will be approved soon and the awaited miners of this Ethereum will finally benefit from another crypto currency, especially now that dollar has a very high value in the trading market.

Well if thats the forecast then expect some good market condition for eth as weve seen eth move faster than anticipated. Eth will likely to stay as it is as many lsdifi taking advantage of it. Most of the eth supply or circulation are indeed in these projects like eigenlayer and some dapps. This limits the sell pressure on that part contributing to a more healty eth movement.

[TravelMug]

ETF approved this May will make the price go further than $5K by this year. But just like when the BTC ETF spot was approved, I think the price will also dive first giving investors a good buying price. Stack up your USD for the preparation. I think most of the ERC tokens will also be shooting to da moon.

Besides the ETH ETF that this article is talking about, it also mentions ETH staking from platforms like Coinbase and Lido and the rest which could cause a backlash.

Right, just like Bitcoin, there's no much hype of Ethereum Spot ETF and so it's backers are very bullish and push the price to $3k in the last 24 hours. So lucky for those who have bought at a lower price this bear market. But I'm hearing from other community that some of them have bought when the price is still about $3k and then thought that they are going to profit. So still, there are investors who are in the negative. And as far as the price relative to it's ATH it's about -40%. But just wait till this approval, it could really push Ethereum to near all time high for this year.

[tyz]

$3k has already been briefly exceeded. However, we are still more than 30% away from the ATH (around $4,700 depending on the exchange). Bitcoin is closer to its ATH in percentage terms, which means either Bitcoin is overbought or Ethereum still has some catch-up potential. I also think that speculation about a spot ETF in the near future could push ETH up quite a bit.

[letteredhub]

There's something about News in this crypto industry, it has a way of affecting the market specifically a coin the news is designated for, and the rise of ethereum to 3k is not unconnected to the spot ETF as rumored to be approved by at most may this year. Same thing happened with bitcoin at the peak of approval of the bitcoin spot ETF and later there was a price correction and I think it could be same with ethereum price experiencing a correction after this 3k rise due to the ETF news.

[xeqoRameshAxueamExaqana]

ETF approve can big impact ETH price. but still btc halving more than big impact etf. btc halving i think eth price can reach new ATH price. but not for this year even though this year is halving year. but wait for next year for sure eth price will touch new ATH

[wheelz1200]

These predictions have e been made for years for bitcoin too.  I wouldn't take too much stock in them.  Either way it will be a sell the event type thing if and when they do announce that.  People are buying that rumor and will dump this like hot garbage once they move out on that. 

[JeffBrad12]

were near ETF approval thats to be expected but I think what also contributes to the increase of ethereum price nearing $3k despite bitcoin showing a bit correction its still unfazed right now is because there are quite literally so many projects that requires staking ethereum that have locked billions of dollar worth of ethereum for a long period of time creating lack of supply in the market.
i've seen so many people locking their ethereum for the sake of getting that share of cake of getting that L2 tokens that its actually crazy also other project are also taking the same path, right now is the age of locking for staking, BNB, Bitcoin, ETH are the primary three tokens that are required for staking and there's more and more project requires staking.
I think the bullrun in the future might also be triggerred by the lack of supply in the market therefore creating market price way higher than usual.

[Bureau]

Ethereum did break the $3k mark earlier but now it seems like profit booking is happening. What looks interesting to me is suddenly BNB price has spiked by 7%. I don't have any news that indicates the reason. It looks to me as if whales are manipulating it's price for now.

There are two reasons why Ethereum breached the $3 price point. Of course one reason is the spot ETF that might get approved soon. The next one is Dencun upgrade which is going to happen on March 13th.

[Reatim]

https://cryptoslate.com/ethereum-price-approaches-3k-amidst-spot-etf-anticipation-dencun-upgrade
Analysts of Bernstein believes a spot ETH ETF is a near certainty within one year.

The price of Ethereum (ETH) approached $3,000 on February.19 amidst anticipation concerning development that are expected to occur in the coming months. The Ethereum is ranked #2 (no: 2) by market cap and the price is up to 2.69% over the past 24 hours. Ethereum has a market capitalization of $356.82 billion with a 24 hours trading volume of 15.44 billion dollars.

Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year. This is a very good increase in the crypto world as another trading market will be approved soon and the awaited miners of this Ethereum will finally benefit from another crypto currency, especially now that dollar has a very high value in the trading market.

That's good thing for those who are expecting to sell out their coins in Ethereum as this is the perfect timing but look at it now as the price did not Hold the 3k level .
its the 2.0 version seems to be effecting or the ETF? May is just 1 month after Bitcoin halving meaning the market will act differently so expecting this and that are too cautious to do.

[Dr.Osh]

$3k has already been briefly exceeded. However, we are still more than 30% away from the ATH (around $4,700 depending on the exchange). Bitcoin is closer to its ATH in percentage terms, which means either Bitcoin is overbought or Ethereum still has some catch-up potential. I also think that speculation about a spot ETF in the near future could push ETH up quite a bit.

Well, if you look at the ATH, ethereum is still not far enough from its current price, but little by little, I think ethereum can reach that price, just like bitcoin.
Additionally, I think that this is the beginning of a price increase that could become very high. We know that the Halving hasn't started yet, but the price of ethereum has started to recover and is almost reaching its ATH. It is possible that, after the halving, ethereum will be positively impacted by the market, and the price could be much higher beyond its ATH. However, I feel that currently ethereum's movement is still quite good.

[EarnOnVictor]

The $3,000 is no longer new to Ethereum this week, it's a good comeback by the coin which is showing the resilient nature of the coin now. Being the number 2 cryptocurrency in the world by market capitalization rating, it has lived up to the standard. It is able to do whatever Bitcoin is doing and always proves itself to be a worthy rival without disappointing both its short and long-term investors. As it is now, Ethereum will certainly hit its ATH of about $4865 again, it has behaved as a very serious coin, and nothing should stop it from hitting that level even before the end of 2024.

It hit the $3,000 you mentioned on Tuesday and also hit it yesterday but the two days did not witness a close above that level which makes it not stable above there for now. Going forward, I know that it will have a close above it pretty soon, maybe next week or month, and by then it can be rigid on what's next afterwards.

Regarding the ETF approval, the chance of approving Ethereum is very high. If the SEC could approve Bitcoin, there can't be a good reason why Ethereum with better utility would not be approved.

[Out of mind]

ETH's ETF may be confirmed within a year due to changes in the price of Ethereum. The great trajectory we have seen ETH go through over the past few days is really interesting. Currently, the price of Ethereum has crossed $3000, and we can expect it to reach higher levels soon. Many investors have predicted that the price of Ethereum will exceed $5000 by 2024 and this prediction is believed to be correct. Ethereum's price will surely touch $10,000 when ETH's ETF receives approval.

[Yatsan]

Ethereum did break the $3k mark earlier but now it seems like profit booking is happening. What looks interesting to me is suddenly BNB price has spiked by 7%. I don't have any news that indicates the reason. It looks to me as if whales are manipulating it's price for now.

There are two reasons why Ethereum breached the $3 price point. Of course one reason is the spot ETF that might get approved soon. The next one is Dencun upgrade which is going to happen on March 13th.

Good insight but more likely it is whale manipulation due to those mentioned events. There's no significant event at this moment, only anticipated ones, which helped me come up with such conclusion. But bottomline, no one has the assurance of whatever reason behind the increase other than the increase itself being unexpected that it even had a higher price increase than with bitcoin's.

Given these upcoming events, there is a huge tendency for ETH to reach its ATH, and other tokens might as well have the same hype. Domino effect is evident for a long time with market price increase and decline. However, investors should still be careful of a possible price correction given that prices are up for months already and consolidation might suddenly take place. Being optimistic of ETH's price movement is okay however never be too confident.

[NNRR]

Yes ETH price already touched 3K Usdt I think bull run will create new all time high in ETH so those who have ETH hold can hold it, in future it may break previous all time high price.