ChatGPT Commented on Ethereum Price: What Could Happen After ETF Approval?

The market breathed a sigh of relief when the spot Bitcoin ETF, which the cryptocurrency market was looking forward to, was recently approved. While a large 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, debating when a spot ETF approval might come for other currencies, especially Ethereum.

OpenAI's artificial intelligence tool ChatGPT, on the other hand, predicted the movement in price after a possible ETF approval. If the product is approved, the tool presented bullish and bearish scenarios for Ethereum.

According to ChatGPT, the approval of a spot Ethereum ETF could mark a crucial moment for the ETF. Increased institutional interest and mainstream adoption may attract investors who want 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 has stated that the cryptocurrency could potentially reach levels above $3,000. However, the movement in the price will also progress depending on the developments in the sector, regardless of the ETF.

Contrary to expectations, the approval of a spot Ethereum ETF may not guarantee the continuation of positive market sentiment. ChatGPT suggested that traders and investors may prefer to "sell the news," which could lead to a short-term price correction.

Furthermore, regulatory uncertainties or concerns regarding the structure of the ETF may create skepticism among market participants.

ChatGPT stated that Ethereum could face a temporary decline in a bearish scenario. The price could fall below the current trading levels, which range from $2,300 to $2,000, or fall further, depending on the size of the market reactions.

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