Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Analysts at British multinational bank, Standard Chartered have predicted that the price of Ethereum (ETH) could potentially climb to $10,000 in response to the anticipated political changes set to take place following the upcoming United States (US) Presidential elections. Standard Chartered Predicts Ethereum To $10,000 In a research note by the head of Standard Chartered crypto research, Geoffrey Kendrick, Ethereum could experience a dramatic rise to $10,000 if Donald Trump, the former US President wins the upcoming election.\u00a0 Related Reading: Bitcoin Price Turns Green In October Once Again, Is The Bull Run Here? Delving into the potential impact of a Trump administration on the future of the digital asset industry, Kendrick predicts that both Ethereum and Solana (SOL) will outperform Bitcoin (BTC) significantly, reaching new all-time highs. The report posits that changes in a country\u2019s political regime tend to have a significant influence on the trajectory of leading digital assets over time.\u00a0 Based on this observation, Kendrick expects Solana to significantly outperform Ethereum under a Trump regime. While Ethereum will witness significant growth and possibly maintain its rank as the top altcoin with the largest market capitalization, a Trump win could change the market dynamics, potentially triggering even higher gains and adoption for its competitor, Solana.\u00a0 On a different note, if the current US Vice President, Kamala Harris wins the upcoming elections, Kendrick\u2019s report projects that Ethereum could surge to $7,000, marking a 30% or $3,000 drop from the projected $10,000 target under a Trump administration. However, under Harris\u2019s leadership, Ethereum will solidify its position as the leading altcoin, potentially outperforming Bitcoin and Solana in gains.\u00a0\u00a0 It\u2019s important to note that Standard Chartered has cut down its earlier forecast for Ethereum by nearly 50%, underscoring the volatility and unpredictability of the market. In an earlier report, the multinational bank had predicted that Ethereum could reach $14,000 by 2025, driven by the approval of Spot Ethereum ETFs.\u00a0 Although Spot Ethereum ETFs have gained said approval and are now trading, Ethereum\u2019s price remains significantly below $3,000. Nevertheless, the results of the US Presidential elections scheduled for November 5, could have a more bullish impact on Ethereum, potentially triggering a massive run to new highs.\u00a0 ETH Faces Drop To $1,600 If Key Support Fails While market experts deliver optimistic projections for Ethereum\u2019s price, a prominent crypto analyst, Ali Martinez has taken a more bearish stance, predicting a significant decline for this altcoin if it fails to hold a crucial support level.\u00a0 Related Reading: Cardano Price Prediction: Analyst Forecasts ADA Price Rocket To $5 In an X (formerly Twitter) post on Monday, Martinez disclosed that if Ethereum can stay above the $2,300 support threshold, its price could breakout to new all-time highs of $6,000. On the other hand, if the top altcoin fails to maintain this level, it could trigger a massive drop to the next support at $1,600.\u00a0 As of writing, the price of Ethereum is trading at $2,432, and a decrease to $1,600 would represent a massive 34.21% plunge for the cryptocurrency.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":644666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-647142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Standard Chartered Analysts Says Ethereum Price Will Reach $10,000 If This Happens<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n