Ethereum Price Will Reach $10,000, ‘As The Chips Fall,’ Analyst Says.

Crypto analyst and trader Tyler Durden expressed his bullish sentiment on Ethereum (ETH). The commentator suggested that The rise of ETH was inevitable and that it was better for traders to go with the tide.

Ethereum Set To Climb To $10,000

Durden mentioned in X (formerly Twitter) posted that Ethereum to $10,000 is the “most unbalanced bet” in crypto today. He went on to say “as that is offensive, [it’s] the way the chips fall,” he suggested ETH exchange at this price level it was inevitable. He also stated that he will bet on ETH regardless of how he feels about the crypto token, as he noted that traders “trade the market” and not their emotions.

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The commentator suggested that Spot Ethereum ETF share price it will be the key to ETH’s rise to $10,000. He said Wall Street is making huge efforts to ensure that Ethereum ETFs are allowed, including switching Ethereum from a security. As he is, he believes that these institutional investors they will make sure they make as much money as possible with these funds while pumping up the value of Ethereum.

Other analysts also shared the same sentiments as Durden as they predicted that the Spot Ethereum ETF will participate in the big ETH rally. Crypto analysts Ash Crypto and Eljaboom also just predicted that ETH will rise to $10,000 because of these funds. Ash Crypto said it’s only a “matter of time” before Ethereum reaches this price level, and the Spot Ethereum ETF is expected to start trading soon.

Crypto Altcoin Daily Analysts and mentioned earlier that ETH to $10,000 is “set” and mention the Spot Ethereum ETF as one of the reasons they believe that the crypto token can rise to this price level. In accordance with Bloomberg analyst Eric Balchunasthese Spot Ethereum ETFs may begin trading on July 2nd.

These funds are expected to contribute to the parabolic rise of ETH due to the significant influx they can bring to the Ethereum ecosystem. Crypto research firm K33 predicts that these funds could attract between $3.1 billion and $4.8 billion in revenue during the first five months of trading.

Why You Shouldn’t Bet Against ETH

Durden is referring to the US The Securities and Exchange Commission’s (SEC) the decision to drop its investigation against ETH to continue emphasizing why betting on Ethereum was an obvious play. Ethereum developer Consensys revealed in an X post that The Enforcement Division of the SEC they informed them that they are closing the investigation of whether ETH is a security.

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They added that this means that the SEC will no longer be able to bring cases that claim the sale of ETH is a securities transaction. The strong case of the SEC against Ethereum was expected to be a major factor that could suppress the price of ETH, as SEC case against Ripplewhich is he believed having a negative impact on the price of XRP.

However, since the SEC chose not to charge Ethereum, the price of ETH seems ready to take off as this development adds to the bullish narrative surrounding the crypto token.

The featured image was created with Dall.E, a chart from Tradingview.com