ETHE - Bitwise CIO Matt Hougan: Ethereum To $5000 In 2024 And $15B In ETF Inflows | Benzinga
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, has outlined three key reasons why he believes Ethereum (CRYPTO: ETH) will reach a new all-time high following the launch of spot Ethereum Exchange-Traded Products (ETPs).
What Happened: Hougan predicts that by year-end, Ethereum’s price will surpass its previous record of $5,000, driven primarily by ETP inflows.
He bases this forecast on three structural factors that differentiate Ethereum from Bitcoin (CRYPTO: BTC):
- Ethereum’s Lower Short-Term Inflation Rate: Unlike Bitcoin, which had a 1.7% inflation rate when its ETPs launched, Ethereum currently has a 0% inflation rate. This balance between new ETH creation and consumption through network activity creates a favorable supply-demand dynamic for price appreciation.
- Reduced Selling ...