According to BlockBeats, QCP Capital predicted on May 23rd that the approval of a spot Ethereum ETF in the United States could potentially lead to a 60% increase in Ethereum's price over the next few months. This prediction was made in reference to the performance of Bitcoin's price after the approval of a Bitcoin ETF spot in January.
In addition to this, QCP Capital also indicated that with an implied volatility exceeding 100% on Friday, a significant market explosion is expected. The firm's statements suggest a positive outlook for Ethereum, anticipating a substantial rise in its value following the potential approval of a spot Ethereum ETF.
It's important to note that these predictions are speculative and depend on various market factors, including the approval of the Ethereum ETF. Investors are advised to conduct their own research and consider multiple factors before making investment decisions.