Ethereum Price Prediction: Analyst Predicts $6,446 ETH By July 23 if Spot ETF is Approved
CryptoNewsTerminal Staff21 May, 2024
Ethereum Price Prediction: Analyst Predicts $6,446 ETH By July 23 if Spot ETF is Approved
Miles Deutscher, a prominent crypto investor and DeFi analyst with a large following on Twitter, has made a bold prediction about the future price of Ethereum (ETH). According to Deutscher, ETH could hit $6,446 by July 23 if the U.S. Securities and Exchange Commission (SEC) approves a spot exchange-traded fund (ETF) for the cryptocurrency. Deutscher's prediction is based on the historical performance of Bitcoin (BTC) following the approval of its first spot ETF in October 2021. After the ETF was approved, the price of BTC surged by approximately 75% in just 63 days. If ETH follows a similar trend, it could reach $6,446 by July 23, which would represent a significant gain from its current price of around $3,700. It's important to note that the approval of a spot ETF for ETH is not guaranteed, and the price of ETH could move in either direction in the coming weeks and months. However, Deutscher's prediction highlights the potential upside for ETH if the SEC does approve a spot ETF.
