The market took a deep breath after the spot Bitcoin ETF, which the cryptocurrency market was looking forward to, was recently approved. While major investment continues to come from the corporate front, investors continue to keep their long-term expectations high. However, the community is now raising a different question. Ethereum Discussing when a spot ETF approval might come for other assets, especially
OpenAI’s artificial intelligence tool ChatGPT predicted the price movement after a possible ETF approval. If the product is approved, the tool offered bullish and bearish scenarios for Ethereum.
According to ChatGPT, the approval of a spot Ethereum ETF could mark a pivotal moment for the ETF. Increasing institutional interest and mainstream adoption could attract investors looking to gain exposure to ETH without direct ownership.
In this optimistic scenario, ChatGPT pointed out that Ethereum’s price could experience a significant increase, but acknowledged the difficulties of determining the exact valuation of the asset. However, the AI tool noted that the cryptocurrency could potentially reach levels above $3,000. However, the price movement will continue depending on the developments in the sector, regardless of the ETF.
Contrary to expectations, approval of a spot Ethereum ETF may not guarantee continued positive market sentiment. ChatGPT suggested that traders and investors may choose to “sell the news,” leading to a short-term price correction.
Additionally, regulatory uncertainties or concerns regarding the structure of the ETF may create skepticism among market participants.
ChatGPT stated that Ethereum may face a temporary decline in a bearish scenario. The price could decline below current trading levels, ranging from $2,300 to $2,000, or fall further depending on the extent of market reactions.