Your Daily Dose of Hopium: Ethereum to $5.6k?

TL;DR

• After the BTC ETFs launched, BTC moved up by as much as 65% — new data suggests ETH may get a similar pump, which means we could be seeing ETH at ~$5.6k six months from now.

Full Story

Alright folks, attach your neck braces, steady your feet, and grab hold of something.

This one’s due to cause some whiplash as we ping-pong between the ‘good’ and ‘bad’ news…

Good news:

The Ethereum ETFs (aka: funds traded on the stock market that buy ETH for every share they sell, attracting all sorts of new investors) are expected to gobble up up to $5.4B in the first six months of trading.

Bad news:

Those expected inflows are only 30%-35% of what the Bitcoin ETFs saw in a similar timeframe.

Good news about the bad news:

Ethereum’s total market value is one third of Bitcoin’s ($400B vs. $1.2T), so even though the Ethereum ETFs’ expected inflows are 1/3 lower by dollar values, the difference in total value helps to balance things out.

Meaning the effects these ETFs could have on the ETH price have the potential to mirror that of BTC, by percentage.

For context:

After the BTC ETFs launched, Bitcoin moved up by as much as 65%.

If the same thing were to happen for Ethereum (at today’s prices), we could be seeing ETH at ~$5.6k six months from now.

Not bad!