2024 Ethereum Price Prediction (CRAZY!)

2024 Ethereum Price Prediction (CRAZY!)

if Bitcoin is the digital gold then ether is what in your mind it’s the digital oil in an historic moment for crypto the ethereum spot ETFs have just been approved oil okay extrapolate give me more on that meaning Black Rock and the other ETF issuers will soon be actively promoting ethereum to their incredibly large investor base the reason for the call today John is some just came across my desk John it is perhaps the best thing I’ve seen in the last 6 months leaving the mainstream media today to play catchup and educate the masses on what ethereum is so think of it Ed like you have gold which is as a saving currency which you use but think about how oil is running everything it was always supposed to be a gas eat as a gas to run products on top of ethereum so while Bitcoin allows you to be your own bank like a digital gold ethereum allows you to build on top of it build decentralized banking type services like lending and borrowing decentralized and like gas in a car the ethereum token is that oil that’s needed to allow all these cars to run and then use the currency eat as the gas price which is the oil so it’s basically you can create as many cars as possible you need to have the same fuel which is ethereum out there and again in an historic SEC decision the eth spot ETF has been approved and the crypto industry is celebrating a new Milestone after the SEC paved the way for the eventual launch of the first exchang traded fund investing directly in The Ether token but only for listing meaning the NASDAQ the New York Stock Exchange the CBOE exchanges can all list an etherium ETF however trading will not start immediately as the SEC still is yet to approve the individual ETF registration statements there’s two pieces of approval for one of these types of products there’s the listing approval which is what happened yesterday and then there’s the approval of the product itself which is still pending the what what thatat is called the the registration statement meaning the SEC has still not approved the individual ETF issuers like black rock that we need to find out let let me say this this product will is eligible for listing but it will not actually be traded until that registration statement is appr so it’s it’s a step it’s a step in the direction but does it mean it’s inevitable and I loved this breakdown explaining exactly where we stand today the ethereum spot ETF has not been approved yet although the 19B d4s representing the industrial standard is approved but we will still need to wait a few days to a few months for approval of the S1 S3s and listing of the ethereum spot ETFs does it mean it’s inevitable it I think it I think it means it’s inevitable just we went through the same process with the Bitcoin product right where almost all or all of the questions were decided the question that was decided yesterday to speak technically is that the market is efficacious enough for this product to be listed on the exchange let me ask you a question that was what was but there are other questions out there oh let’s talk about those questions but as you know Gary gendler in the SEC went Kicking and Screaming yeah why did the SEC suddenly abruptly approve the ethereum ETF when it took them losing a court case for them to approve the Bitcoin ETFs so what is different this time what what is what is different this time is there was a settled issue of whether the underlier Bitcoin here the underlier is ethereum was a security or not or transactions in Bitcoin were Securities transactions the SEC has not definitively said Till up till now and they still have a definitively said that underlying transactions in ethereum are not Securities transactions and this is why you subscribe to altcoin daily because whether the ethereum ETF approval signals that ethereum is now a commodity or not I think that this is such a clear sign that it is that it will be what is it that that you have to show to prove that ethereum is not a security or if it is a security how it works but part of the thing and we used to talk about it the we used to use this analogy about Broadway ticket y remember you want to tell the audience Broadway tickets because I don’t know if that piece of it’s changed at all I loved this analogy on if something is a security all right well well this is this this is how you tell the difference between something that is a security and then becomes a commodity picture of play yep play hasn’t started hasn’t started I come to you guys and I say you know what I’m going to put this on I’m G to get a great composer I’m gonna get a great producer great actor I’m GNA get a venue tell you what give me give me your money and I’ll give you tickets for that play when it’s on right you’re making an investment you’re buying a security those tickets represent a security transaction you’re hoping that my efforts deliver a great return to you six years later the play is a huge success somebody walks up to the box office buys the same ticket to the same show that’s just a ticket it’s a commodity it’s not an investment in the future of the show that’s how something that is is used to build out a network you know using a token to build out a network and say if this network get buil out your token’s going to be worth a lot of money is a security and then when the Network’s built out but the reason this got approved so quickly as discussed in our video the real reason cryptocurrency is going up I think it has been a very big political push because of the election year both presidential candidates want your vote want the crypto communities vote and somewhere you have to say the Republican candidate being so Pro crypto have made Democrats to really pay attention to it that suddenly out of the blue we have a very hushed hushed unprepared ETF approval we still waiting for the trading to happen but the market expectations in last two days got built in but it’s not really there we have not crossed 4K e alltime ET uh high prices were 4.4 true right now one ethereum is worth 3,700 at all-time high which we have not crossed since November of 2021 we were 4.8 th000 per e still 20 23% from alltime high to me the approval of these ETFs essentially clears it like regulatory wise what this means we’re at least hitting alltime highs again that’s baked in and again I only say that because when the Bitcoin ETFs were approved January 11th of 2024 here the market started to understand that Bitcoin was in such a better place regulatory wise institutional wise option wise than when we hit those old oldtime highs in 2021 we then had that clear shot to surpass them again another thing to understand is that ethereum balances on exchanges are at their lowest levels ever down to 13.7 million or roughly onethird of what was available in May of 2021 this is now right before what we expect to be another 1 to2 million in demand from the eth ETFs meaning expect this number to go down another 1 to2 million and as I explained in my video the six best crypto Investments to 10x in 20124 that my bias is that Bitcoin can at least 2x actually now a little less than 2x in this next year year and a half 120,000 per coin I would think eth could at least three to possibly 4X in this same time period so that’s anywhere from $11,000 per coin to just under 15,000 obviously this is an ongoing story click subscribe for one video per day keeping you informed about crypto and be sure to join us for one of the biggest crypto conferences of the Year July 25th through 27th in Nashville it’s so much fun come hang out link down below for a coupon code and ticket prices are about to go up so use code altcoin daily for a better value on your ticket

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TimeStamps:
00:00 Intro
00:43 Ethereum Explained 2024
01:29 Ethereum ETF Approved
04:05 Ethereum is now a Commodity?
05:33 Biden vs Trump on Ethereum
06:16 Ethereum Price Prediction 2024
08:07 Final Thoughts

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