Crypto Analyst Michael van de Poppe Forecasts $3,500 for Ethereum, Novogratz Calls Binance Settlement a Net Positive

The post Crypto Analyst Michael van de Poppe Forecasts $3,500 for Ethereum, Novogratz Calls Binance Settlement a Net Positive appeared first on Coinpedia Fintech News

Just like Bitcoin, Ethereum has enjoyed positive price forecasts as the market looks bright. Michael van de Poppe, in a recent tweet, predicted a price increase to $3,500 for Ethereum. 

Moreover, Mike Novogratz has enthusiastically expressed his belief that the Binance settlement will have a profoundly positive impact on the cryptocurrency market, fueling optimism and anticipation among enthusiasts.

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Ethereum (ETH) To Hit $3,500 in Q1 2024 

Ethereum (ETH), the world’s second-largest cryptocurrency has made a strong comeback, surpassing the $2,100 mark once again. This resurgence coincides with the US SEC’s discussions regarding the approval of a spot Ethereum ETF.

Crypto analyst, Michael van de Poppe is bullish on Ethereum price, especially in light of the Fidelity filing. He predicted that after Bitcoin’s recent surge, ETH could reach $3,500 in Q1 2024. Ethereum whale accumulation has also continued. According to Santiment, major Ethereum wallets show a positive trend, indicating a significant shift.

Exchange wallets have hit a six-month low at 8.03 million ETH, while non-exchange wallets have reached an all-time high of 41.03 million ETH. According to CoinMarketCap, the Ethereum value has leaped from a low of $1,994.31 to a high of  $2,119.94 in the last 7 days. This has confirmed the bullish trend for the price of Ethereum. 

Mike Novogratz: Binance Settlement ‘Net Positive’ for Cryptocurrency

The United States Department of Justice (DOJ) fined Binance $4.3 billion for its financial breaches. In an interview, Galaxy Digital CEO Mike Novogratz stated that the high-profile settlement will be a net positive for the crypto industry. 

He added that the $4.3 billion settlement would mean that Binance has satisfied regulators and users. Despite this, Binance Coin price has not improved, still locked under the $230 resistance level.

However, analysts have remained bullish about the price of Binance Coin. Before the bull market can start for BNB, the altcoin must first break above the $230 and $250 resistance levels. When this happens, Binance Coin (BNB) could look to rally above $300.

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