Implications for Ethereum and VC Spectra Valuations

Following the signing of the Digital Financial Assets Law by Governor Newsom of California, the crypto space waits to see the implication of the Law on Ethereum (ETH) and VC Spectra (SPCT). As investors continue in their quest for the best crypto to buy in Q4 2023, let’s see what market analysts are forecasting. 

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Summary

• Gavin Newsom’s signature confers enforcement and rulemaking authority on California’s DFPI.
• Experts say Ethereum (ETH) could surge to $1,900 by November.
• VC Spectra enters Stage 4 of its public presale at $0.055, exceeding experts’ projections.

California Governor Signs Digital Financial Assets Bill Into Law

On October 13, Gavin Newsom, Governor of California, signed a crypto licensing bill slated for enactment in July 2025. The Digital Financial Assets Law, widely regarded as California’s counterpart to New York’s “BitLicense,” faced substantial industry opposition but secured approval from the state’s Assembly in September 2022.

Under this legislation, the California Department of Financial Protection (DFPI) and Innovation is mandated to construct a comprehensive regulatory framework for the cryptocurrency domain.

This framework includes the establishment of a licensing system and also bestows enforcement and rulemaking authority upon the Department. Additionally, the DFPI is given an 18-month period for implementation. This will allow for a carefully tailored approach that accommodates evolving industry trends and safeguards consumer interests.

Many industry experts have discussed the implication of this development on several top altcoins like Ethereum (ETH) and VC Spectra (SPCT). Let’s delve in to see their forecasts.

ETH Price Prediction: Ethereum Likely to Decline Following Newsom’s Assent

Following the landmark signature, Ethereum (ETH) surged by 3.12% from $1,552.09 on October 13 to $1,600.53 on October 16. Interestingly, this surge followed a week of bearish performance from Ethereum (ETH), as this top 10 altcoin dropped from $1,645.83 on October 6 to $1,552.09 on October 13.

Regarding the ETH price prediction, experts remain divided. Bullish experts are forecasting an Ethereum max price of $1,900 by the end of November, as many technical indicators suggest that Ethereum (ETH) could be in an uptrend by the end of October. 

Conversely, bearish analysts are exercising some doubt over Ethereum’s (ETH) future following the signing. This skepticism has arisen due to the rulemaking and enforcement authority conferred on DFPI by the Law. Pointing at the SEC’s recent regulatory activities, these experts believe this authority may be weaponized to witchhunt crypto enterprises. Hence, their ETH price prediction is that the coin could drop to $1,200 by November.

VC Spectra (SPCT): Top ICO Remains Unscathed By California Bill

VC Spectra (SPCT) is a revolutionary decentralized asset management protocol and trading platform poised to revolutionize the landscape of cryptocurrency investments. At its core, it strives to offer investors a secure, transparent, and potentially lucrative journey through the world of digital assets.

One of its standout attributes is the trustless investment management system, which empowers investors with complete control over their participation levels. VC Spectra (SPCT) is resolute in its commitment to sustainable and ethical investment principles, channeling funds exclusively into projects that uphold values of transparency and social responsibility.

SPCT, a BRC-20 token, is the governance token for VC Spectra. SPCT tokens are currently available in Stage 4 of the VC Spectra public presale. Since the beginning of the public presale, the SPCT token has soared fourfold, reaching a value of $0.055 per token. Consequently, early-stage investors who acquired SPCT at $0.008 during Stage 1 of the presale have already seen remarkable gains of 587.5%.

Furthermore, analysts are now projecting that SPCT could surpass its initial estimated end-of-presale value of $0.080, given the substantial growth SPCT has exhibited thus far. These gains are in addition to the generous rewards and dividends that investors can expect from the platform.

Additionally, VC Spectra has unveiled an enticing 10% deposit bonus for a limited timeframe, making this an opportune moment to become part of one of the top DeFi projects of 2023 and beyond.

Learn more about VC Spectra (SPCT) and its presale:

Buy Presale: https://invest.vcspectra.io/login

Website: https://vcspectra.io

Telegram: https://t.me/VCSpectra

Twitter: https://twitter.com/spectravcfund