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Analysts believe that the Ethereum price could rise to $6,200 in the coming months.
QCP analysts wrote that there is a bearish outlook for Bitcoin due to payments to be made by Mt. Gox.
Mt. Gox, the largest cryptocurrency exchange of its time, which went bankrupt in 2014, will make a payment of approximately $9.6 billion to its customers. This is expected to create selling pressure on Bitcoin.
Analysts noted that there is a bullish outlook for Ethereum. According to the writings, spot Ethereum ETFs in the US could start trading earlier than expected this month.
QCP said that for the September options, the $3,000 put option can be sold with a $2,500 knock-in, while the $4,500 call option can be bought with a $6,200 knock-out.