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In the midst of a rebound in the digital asset market this Thursday following recent downturns, Ethereum emerges as a standout performer. Despite facing regulatory scrutiny from the US Securities and Exchange Commission (SEC) over its security status, one crypto analyst remains bullish on Ethereum’s prospects, forecasting a price surge to $5,000. With Ethereum registering a more than 4% increase in the past 24 hours, currently trading at $3,530 according to CoinMarketCap, signs indicate a potential rally on the horizon. Despite the SEC’s legal campaign targeting Ethereum’s security classification, industry voices have rallied in support of the cryptocurrency.

 

 

 

 

The digital asset market was jolted by news of an SEC investigation into the Ethereum Foundation, with subsequent reports revealing subpoenas issued to entities associated with the foundation. Many interpreted these efforts as the SEC’s bid to clarify Ethereum’s regulatory standing. However, despite the regulatory uncertainty, Ethereum’s price has not faltered. A crypto analyst, CryptoJelleNL, remains optimistic about Ethereum’s trajectory, asserting that maintaining the $3,500 level could propel it to $5,000 in the near future, despite the fear, uncertainty, and doubt (FUD) surrounding the SEC’s actions.

 

 

Ethereum has demonstrated consistent growth throughout March, boasting a more than 20% increase for the month. While today’s performance diverges from its weekly trend, which saw a decline of over 9%, the overall sentiment remains positive for Ethereum’s long-term prospects.

 

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