Crypto Guru Tyler Durden Foresees Ethereum Hitting $10,000, Backs Spot Ethereum ETFs

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Renowned crypto expert and trader, Tyler Durden, has made public his optimism over the future of the second-largest cryptocurrency Ethereum (ETH) by market cap. In what appears to be a well-calculated prediction, he asserts that the rise in the market price of ETH is something of an inevitability. He encourages fellow traders to go with the flow, seeing the trend as irresistible.

His projection – Ethereum to reach an impressive $10,000 – is not just some wild prediction, he calls it the “most asymmetric bet” in the cryptocurrency realm today. Just as a seasoned sailor reads the wind, he explained, “as annoying as that is, it’s just the way the chips have fallen.” This candid assertion implies that the ascent of ETH to such jaw-dropping heights is ultimately a certainty. Durden intimated that he would opt for ETH regardless of his personal feelings towards the digital coin. It is crucial to keep emotions at bay and “trade the market,” he noted.

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Durden believes that Spot Ethereum ETFs (Exchange-Traded Funds) will be instrumental in the meteoric rise of ETH. He suggests that Wall Street pulled all stops to ensure the approval of these ETFs – and this even included the bold leap of moving Ethereum away from being classified as a security. As institutional investors, the primary aim is maximizing returns, and Durden predicts that they will leverage these funds to bolster Ethereum’s market price.

Echoing similar sentiments are crypto market watchers Ash Crypto and Eljaboom, both of whom envisage a massive rallied buoyed by the Spot Ethereum ETFs which, in turn, will catapult ETH to the coveted $10,000 mark. Noting that it was only a “matter of time,” Ash Crypto expects Spot Ethereum ETFs to hit the market soon.

Speaking along the same wavelength, Altcoin Daily posits that ETH attaining $10,000 is a foregone conclusion due to several factors among which is the advent of Spot Ethereum ETFs. Eric Balchunas, an analyst with Bloomberg, predicts that these ETFs could debut trading by July 2. The star-thumb prediction by crypto research firm, K33, is that these funds could generate between $3.1 billion and $4.8 billion in net inflows within their initial five months of trading, a considerable injection into the Ethereum ecosystem.

Durden accentuated his bullish outlook for Ethereum by referencing the decision by the US Securities and Exchange Commission (SEC) to halt its investigation into ETH. This was considered a significant event, as Consensys, an Ethereum developer, announced in a post that the SEC’s Enforcement Division had deemed it fit to close the case on whether ETH was indeed a security. This closure presumably exonerates ETH from any legal allegations that it might be considered a security transaction, a significant relief for Ethereum and its users. Historically, the legal standoff instigated by the SEC against Ripple (XRP) has reportedly led to a decline in the latter’s market value.

In contrast, Ethereum now seems placed on a launching pad for financial ascension, dismissing any odds against its success. This likelihood only strengthens the prevailing bullish narrative around Ethereum in the cryptocurrency market. According to data provided by Tradingview.com, Ethereum’s price rally is not backing down and seems to be promising, ready to fend off any market bears, and soar to new heights.

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Melinda Cochrane is a poet, teacher and fiction author. She is also the editor and publisher of The Inspired Heart, a collection of international writers. Melinda also runs a publishing company, Melinda Cochrane International books for aspiring writers, based out Montreal, Quebec. Her publication credits include: The art of poetic inquiry, (Backalong Books), a novella, Desperate Freedom, (Brian Wrixon Books Canada), and 2 collections of poetry; The Man Who Stole Father’s Boat, (Backalong Books), and She’s an Island Poet, Desperate Freedom was on the bestseller's list for one week, and The Man Who Stole Father’s Boat is one of hope and encouragement for all those living in the social welfare system. She’s been published in online magazines such as, (regular writer for) ‘Life as a Human’, and Shannon Grissom’s magazine.