Crypto just became a political football, and ether is the early winner
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 22 2024
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Source: Yahoo Finance
- Crypto Market: Ethereum (ETH) saw a significant 21% increase in just two days, becoming a key player in the crypto market.
- ETF Approval: The approval of spot ether ETFs by the Securities and Exchange Commission (SEC) was uncertain, but odds suddenly increased to 75%, leading to a surge in ether prices.
- Government Stance: Washington is showing a positive shift towards crypto, with recent bipartisan legislation and support for stablecoins indicating a change in attitude.
- Political Influence: Crypto has become an election issue, with politicians courting crypto voters and embracing the industry, creating a favorable environment for the sector.
- Market Response: The sudden change in government stance and potential for increased support has reenergized crypto bulls and investors in the market.
Analyst Views on BRRR
Wall Street analysts forecast BRRR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BRRR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 25.430
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Current: 25.430
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
