https://cryptoslate.com/ethereum-price-approaches-3k-amidst-spot-etf-anticipation-dencun-upgradeAnalysts of Bernstein believes a spot ETH ETF is a near certainty within one year.
The price of Ethereum (ETH) approached $3,000 on February.19 amidst anticipation concerning development that are expected to occur in the coming months. The Ethereum is ranked #2 (no: 2) by market cap and the price is up to 2.69% over the past 24 hours. Ethereum has a market capitalization of $356.82 billion with a 24 hours trading volume of 15.44 billion dollars.
Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year. This is a very good increase in the crypto world as another trading market will be approved soon and the awaited miners of this Ethereum will finally benefit from another crypto currency, especially now that dollar has a very high value in the trading market.
Honestly speaking, I am not surprised to see Ethereum reaching $3000, because its potential much much bigger than this level. While, analyzing the historical price correlation of Ethereum with Bitcoin, theoretically its price should be above $4000 based on 1:0.08 ratio. Thus,it is is still under-valued, and I am pretty sure the market will fill this gap in coming weeks, if ETF of Ethereum is approved by SEC.