AI predicts Ethereum price for August 1, 2024
As the majority of assets in the cryptocurrency sector continue to make significant advances, Ethereum (ETH) is no exception, and the largest altcoin in the market could continue on its bullish path, according to certain artificial intelligence (AI) algorithms. Specifically, Ethereum has moved well beyond the critical psychological price level at $3,500 and continues to record increases, which have seen it race over 18% in a single day on rumors that a spot-based Ethereum exchange-traded fund (ETF) might soon become a reality. Indeed, Bloomberg’s senior ETF analyst Eric Balchunas recently said that he and his colleague James Seyffart now believed that the chances for the approval of a spot Ethereum ETF were 75%, as opposed to the earlier 25%, according to Balchunas’ X post on May 20. Picks for you Is it better to invest in gold or Bitcoin