Ethereum Price Prediction – What’s Next for ETH as SEC Approves Ethereum ETFs

The market, which had been wagering until a week ago that Ethereum ETFs would be denied this week, was astonished to learn that the US SEC had approved spot Ethereum ETFs. As a result, the price of Ethereum (ETH) is moving erratically in late Thursday activity.

 

 

 

As of right now, Ethereum was trading for about $3,800. That is both considerably higher than the previous session low of $3,520 and sharply lower than the previous session highs of over $4,000.

 

 

 

The price of Ethereum is up 24% so far this week. On Monday, there were first rumors of an SEC u-turn.

 

This was followed in the next several days by a flurry of activity from the SEC and ETF issuers.

 

In the meanwhile, traders are betting heavily that ETFs will promote ecosystem expansion, which is driving up the price of Ethereum.

 

The SEC’s approval of eight spot Ethereum ETFs on Thursday marked the culmination of everything.

 

 

 

 

 

 

 

Why Spot Ethereum ETF Approval is Important?

 

The establishment of an Ethereum exchange-traded fund (ETF) in the United States is expected to attract institutional investors, driving up the price of Ethereum.

 

Bitcoin, as traders will remember, soared to new record highs with the approval of spot Bitcoin ETFs earlier this year.

 

So, it’s possible that Ethereum’s price will rise soon after. Its all-time high is close to $4,900, a 28% increase from where it is now.

 

More money will be able to flow into the Ethereum ecosystem as a result, which should lead to increased use, activity, and innovation.

 

Ethereum ETFs should contribute to Ethereum’s dominance among blockchains that enable smart contracts.

 

 

 

Download App for Android

Download App for iOS

Ethereum Price Prediction–What’s Next for ETH?

 

Some short-term selling pressure may occur if the approval of spot Ethereum ETFs is confirmed.

 

What transpired when spot Bitcoin ETFs were approved earlier this year is similar to that.

 

Before cashing out, some traders want confirmation of a positive catalyst in the market.

 

If Ethereum ETFs are well-received when they launch, the price of ETH might shortly surpass $4,000.

 

Many traders shorted Ethereum (ETH) instead of other cryptocurrencies due to regulatory uncertainty in the US.

 

Earlier this year, rumors circulated that the SEC was trying to get Ethereum classified as a security.

 

However, everything is now crystal apparent due to the approval of spot Ethereum ETFs. Just like Bitcoin, Ethereum is a digital commodity.

 

There are a lot of shorts that have to be unwound, which might keep the market running.

 

Furthermore, technical analysis of cryptocurrencies indicates that a return to the March highs around $4,100 is probable, as the market has broken its downtrend from March to mid-May and is now above its 21 and 50DMAs.

 

 

 

 

There could be a swift surge up to the highs of $4,900 in 2021 after this barrier is broken.

 

 

---

How to Trade Crypto Futures on BTCC?

 

 

Now you can trade BTC on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

 

1. Register an Account

 

Join BTCC now and get up to 10,055 USDT when you deposit and trade. Click the button below to sign up now.

 

 

2. Deposit Funds

 

Once your account is set up, you’ll need to deposit funds into your BTCC account. BTCC may offer various deposit methods such as bank transfers, cryptocurrency deposits, or other payment options. Choose the method that works best for you and follow the instructions provided to deposit funds into your account. BTCC mainly offers USDT margin and future trading. Therefore, you need to buy USDT  before trading.

 

 

How to Buy Tether USDT Guide

 

 

 

 

3.How to trade BTC?

 

Here are the steps to trade BTC on BTCC

 

1) First, tap “Futures” on the website homepage

 

 

2) Select a product you would like to trade from the list here. BTCC currently offers daily and perpetual futures

 

 

 

3) Check time to settlement.  The settlement time of these futures type is different, you can check the time for settlement for each product here.

 

 

 

 

4) After choosing product, you can decide whther you would like to buy or sell it.  You only need to own USDT to trade USDT-margined futures.  That is to say you can sell BTCUSDT futures without owing any BTC Coin.

 

 

 

5) Then select your order type, and choose your leverage.

 

 

 

 

If you choose Limit or SL/TP order, you will need to enter your order price here.

 

 

 

Enter the quantity or choose the percentage under the quantity field.

 

 

 

 

You can also set up stop loss or take profit targets to limit losses or maximise earnings.

 

 

 

 

6)After everything is set up, Buy or  Sell to play your order. A confirmation window will show up,  check if all info is correct and click [Confirm] to open the position.