Ethereum Price Falls by 14.48% in May, Execs Anticipate Uptick After Bitcoin Halving

Ethereum In the middle of these developments, it is worth noting that ETH’s price fell by 14.48% over the month, with the altcoin trading at $3,220.95 at press time. Despite this downturn, however, various execs anticipate a significant uptick in the crypto’s value, especially after Bitcoin’s halving.

In fact, some researchers are also suggesting that a possible denial of an ETF may not have a significant impact on the price.“If the ETF is denied, it will not be that bearish, as the market is not pricing in it yet, and we still have Bitcoin ETFs as the entrance for traditional funds.” Zheng additionally mentioned that the approval of a spot Ether ETF with staking could lead to an increase in short liquidations, thus driving prices higher.Not everyone is in agreement though, even after recent developments like the Bitwise ETH ETF filing. In fact, Senior Bloomberg ETF analyst Eric Balchunas still maintains there are low approval odds for an Ethereum ETF in May.

What kind of impact will non-approval have on ETH prices though? Drawing parallels between Ethereum’s current price chart and its behavior before the previous Bitcoin halving in May 2020 Trader “The last Bitcoin halving was $ETH’s sign to start running hard. Is this time different? I don’t think so.”With the SEC probing whether ETH should be classified as a security or not, investor confidence has fallen recently. The SEC’s decision, due by 23 May, will heavily influence Ether ETF applications, potentially impacting ETH’s future.Ishika is a graduate of Political Science from the University of Delhi.

Source: Digital Coin News (digitalcoinnews.net)

Ethereum Price Drop Executives Bitcoin Halving ETF Researchers Impact

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