Ethereum has gone through a difficult phase since the beginning of the year but has strong recovery potential thanks to fundamental factors and market development.
The deep price decline early this year opens up a breakout opportunity for Ethereum, especially with hopes of approval for integrated staking Ethereum ETFs in the United States, while Ethereum's role in the digital economy is increasingly reinforced.
MAIN CONTENT
Ethereum has lost more than half of its value this year, but signs of 'seller fatigue' indicate a reversal.
The Ethereum ETF with staking could activate strong institutional capital flows if approved by the SEC.
Ethereum is predicted to become the global digital payment infrastructure with a long-term price potential of up to 1.5 million USD.
What fluctuations has Ethereum experienced this year?
Ethereum has lost more than 50% of its value from January to the end of April, falling to nearly 1,300 USD. However, expert Eric Jackson – founder of EMJ Capital – points out that this is a sign of 'seller fatigue'.
This decline reflects the strong sell-off of traders holding short positions on ETH while maintaining long positions with Bitcoin. As selling pressure eased, Ethereum began to recover and regain strength in the market.
"The deep drop indicates seller exhaustion as they have piled many short orders into Ethereum while still holding Bitcoin long-term. When this flow eases, ETH recovers very quickly."
Eric Jackson, Founder of EMJ Capital, 2024
Why is the integrated staking Ethereum ETF an important turning point?
Jackson emphasized that the potential approval of Ethereum ETFs with staking in the United States is the main factor helping Ethereum to explode again. BlackRock – the world's largest asset management firm – is actively pushing regulators to approve this product.
This type of ETF allows investors to profit from staking Ethereum directly on the exchange, attracting large institutional capital flows into the market. The approval decision is expected to be made by the SEC before October 2024.
"ETFs with staking will be a very convenient way for institutions to access ETH, expected to bring a breakthrough in liquidity and investment capital."
Eric Jackson, Founder of EMJ Capital, 2024
What role does Ethereum play in the future digital financial ecosystem?
Ethereum is increasingly seen as the financial infrastructure platform rather than just 'digital oil' for the digital economy. This is due to stablecoins like USDC developing on the ETH network and many large corporations like Shopify, Coinbase, and Robinhood adopting Ethereum solutions.
Jackson assesses that Ethereum creates a 'financial rail' to facilitate global payments and digital assets in the future, placing it at the center of the DeFi industry and digital finance.
What price milestones can Ethereum achieve in the long term?
Eric Jackson forecasts that Ethereum will rise sharply in the next cycle with a near target within reach of 15,000 USD per coin. Furthermore, if the adoption of technology and applications continues to expand, ETH could reach the milestone of 1.5 million USD.
At the time of writing, Ethereum is fluctuating around 4,400 USD, down more than 4% from the previous session.
Frequently Asked Questions
What has caused Ethereum to drop sharply in price since the beginning of the year?
The price of Ethereum has decreased due to strong selling pressure from short ETH investors while maintaining a position with Bitcoin, creating a 'seller fatigue'.
How does the Ethereum ETF with staking affect the market?
Integrated staking ETFs help investors easily profit and attract large institutional capital flows, opening a new era for liquidity and ETH development.
What is the role of Ethereum in the future of digital finance?
Ethereum is seen as the infrastructure for digital payments and digital assets, serving as the foundation for many stablecoins and large companies.
What is the expected price of Ethereum in the future?
Ethereum could reach 15,000 USD in the next cycle and potentially rise to 1.5 million USD if widely accepted.
Who is the expert providing this forecast?
Eric Jackson, founder of EMJ Capital, provides analyses and forecasts based on market trends and legal moves from the United States.
Source: https://tintucbitcoin.com/ethereum-se-dat-15-000-usd/
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