Ethereum price jumps over 20% because of ETF news
In the Crypto market, people are talking about ethereum etf which is expected to get approved this week however approval is not confirmed but this is anticipated. A couple of asset management companies have filed for ETF for Ethereum and the outcome is due within this week which means the community is expecting some good news looking at the overall sentiment in the market. Just after this news update, Ethereum's price has increased by more than 20% and is currently trading pretty much close to 4000 U.S. dollars.
News plays an important role in this market and now the news is about Ethereum ETF so if in case the ETF gets approved then imagine what price sentiments you are going to get in the market for Ethereum it will cross four thousand dollars soon. With the approval for Ethereum ETF the door for institutional investing will open like it has happened with Bitcoin and more money info will be happening on Ethereum.
I am keeping a close eye on the market movement and this is crucial because post-approval things might be even better for the ethereum price in the market. I also think that this is not the time to book profit instead wait for the right time and then book profit which can be big. Profit booking with 20-30% spike is not a good idea when we know that there is a lot of potential.
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To be honest, this is the first time in my life that Ethereum seems to pump such a huge amount.
Seeing such a huge pump, I guessed that some good news is coming for Ethereum.