{"id":12734,"date":"2024-10-09T21:30:24","date_gmt":"2024-10-09T21:30:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=12734"},"modified":"2024-10-09T21:30:24","modified_gmt":"2024-10-09T21:30:24","slug":"standard-chartered-analysts-says-ethereum-price-will-reach-10000-if-this-happens","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=12734","title":{"rendered":"Standard Chartered Analysts Says Ethereum Price Will Reach $10,000 If This Happens"},"content":{"rendered":"

Analysts at British multinational bank, Standard Chartered have predicted that the price of Ethereum (ETH)<\/a> 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<\/a>.<\/p>\n

Standard Chartered Predicts Ethereum To $10,000<\/h2>\n

In a research note by the head of Standard Chartered<\/a> crypto research, Geoffrey Kendrick, Ethereum could experience a dramatic rise to $10,000 if Donald Trump<\/a>, the former US President wins the upcoming election.\u00a0<\/p>\n

Delving into the potential impact of a Trump administration<\/a> on the future of the digital asset industry, Kendrick predicts<\/a> 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<\/a> over time.\u00a0<\/p>\n

Based on this observation, Kendrick expects Solana to significantly outperform<\/a> 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<\/p>\n

On a different note, if the current US Vice President, Kamala Harris<\/a> 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<\/a> and Solana in gains.\u00a0\u00a0<\/p>\n

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<\/a>, the multinational bank had predicted that Ethereum could reach $14,000 by 2025, driven by the approval of Spot Ethereum ETFs<\/a>.\u00a0<\/p>\n

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<\/a> scheduled for November 5, could have a more bullish impact on Ethereum, potentially triggering a massive run to new highs.\u00a0<\/p>\n

ETH Faces Drop To $1,600 If Key Support Fails<\/h2>\n

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<\/a>.\u00a0<\/p>\n

In an X (formerly Twitter) post<\/a> on Monday, Martinez disclosed that if Ethereum can stay above the $2,300 support threshold, its price could breakout<\/a> 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<\/p>\n

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<\/p>","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 […]<\/p>\n","protected":false},"author":0,"featured_media":12735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12734"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12734"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12735"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}