Ethereum’s Dencun upgrade, spot Ethereum ETFs’ hype, and the Bitcoin halving are three key catalysts that could significantly impact Ethereum’s price trajectory in 2024, crypto analyst Michaël van de Poppe predicted in a recent X post.

#Ethereum is still ready for $3,500-4,000 in the coming 3-6 months.

– Dencun upgrade -> final testnet February 7th.
– Ethereum Spot ETF hype.
– Bitcoin rotation after halving towards the rest of the ecosystem. pic.twitter.com/bs3W5WomMi

— Michaël van de Poppe (@CryptoMichNL) January 31, 2024

Poppe pointed to Ethereum’s Dencun upgrade as the first catalyst. The upgrade is expected to significantly boost the network’s transaction processing speed and reduce costs, improvements that are likely to attract more developers and users to the Ethereum ecosystem. This potential increase in adoption could positively impact Ethereum’s market value.

The second catalyst, according to Poppe, is growing anticipation for spot Ethereum ETFs. Seven firms, including BlackRock, ARK & 21 Shares, and Grayscale, have submitted spot Ethereum ETF filings to the US Securities Exchange and Commission (SEC). The SEC faces a May 23 deadline to decide on VanEck’s filing.

Fueled by anticipation of a

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Author: Vivian Nguyen

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