Analysts predict a sharp rise in Ethereum to $ 4,800

According to analysts at QCP Capital, the options market expects the main altcoin to break through $ 4000 and reach $ 4800. This will happen despite the uncertainty of the timing of the approval of ETH spot exchange-traded funds (ETFs).

QCP Capital believes that the bullish trend is supported by several market developments, including the fact that the US Securities and Exchange Commission (SEC) has completed its investigation into the status of the ethereum and will not press charges for unregistered sales of securities. In addition, the issuers of ETFs on ethereum have already received comments from the regulator and will provide their responses within a few days, which supports positive sentiment on the market.

In their opinion, in the near future, we should also expect increased volatility of ETFs in the options market, which may surpass the volatility of bitcoin. QCP Capital suggests that the excitement around ETH-ETFs is driven by expectations of a significant inflow of funds, as happened after the launch of ETFs on the BTC.

It is worth noting that there were earlier doubts that Ethereum could be classified as an unregistered security. This uncertainty caused significant investor concern, which affected the asset’s market performance. On April 25, 2024, Consensys, a key member of the Ethereum ecosystem, filed a lawsuit. The lawsuit challenged the SEC’s jurisdiction, arguing that Ethereum qualifies as a commodity and therefore should not be subject to the SEC’s strict rules.

Subsequently, on June 18, the SEC’s Division of Enforcement issued a positive response. «Today, the SEC’s Division of Enforcement responded to us that it is closing its investigation into Ethereum 2.0 and will not take enforcement action against Consensys,» the company said.