Ethereum Classic and Ethereum Surge Amid SEC ETF Consideration and Upcoming Hard Fork
January 15, 2024Ethereum Classic's (ETC) value has significantly increased due to anticipation of an Ethereum exchange-traded fund (ETF) under consideration by the SEC and an upcoming hard fork.
The approval of a Bitcoin ETF does not ensure the same for Ethereum (ETH), as clarified by SEC Chair Gary Gensler.
Ethereum (ETH) has shown a bullish trend and potential for ongoing growth.
An Ethereum ETF could attract more investment, validate Ethereum's market significance, and simplify access to the crypto market.
Ethereum's price has surpassed $2,500 and is following a 'buy-the-rumor, sell-the-news' trading strategy.
BlackRock has filed for a spot Ethereum ETF, and the top 1,000 Ethereum wallets have acquired $1.4 billion ETH since the Bitcoin ETF approval.
If the current trading strategy persists, Ethereum could reach $5,000, but it faces a $2,900 resistance.
Both Ethereum Classic and Ethereum are showing positive signs of potential growth, but the introduction of ETFs may impact Bitcoin's value trajectory.
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