As the crypto markets began to recover from the bloodbath of the past month, a Bloomberg warning about the flagship altcoin Ethereum came as a shock. Because, according to the warning, the price of Ethereum may drop to $ 1,700. Details are on Kriptokoin.com.
1700 dollars for ethereum possible?
The second largest cryptocurrency by market capitalization of Ethereum, which is claimed by many analysts to replace Bitcoin in the future; however, it closed down 27% from December in the last market correction. Although it has significantly recouped its losses in the last bull run, risks still remain for ETH, according to Bloomberg experts. Bloomberg’s analysis sees the possibility of ETH price dropping to $1,700. One thing that comforts the ETH investor is that analysts say that “this decline will leave Ethereum’s bullish fundamentals intact”.
In a report by Bloomberg, analysts said that the price of ETH, the native token of the leading altcoin network, is likely to oscillate towards price levels below $2,000, with a drop of around 50% from $3250 levels. they are talking about. A team of cryptocurrency experts headed by one of the popular analysts Mike McGlone says that ETH, which has been mobilized in the last bull run, has come to the end of its run and will now face a major correction. The analysis includes the possibility of Ethereum repeating the price action it showed last summer. As it will be remembered, ETH crowned its upward journey, which started from the 1700s last summer, by exceeding 4000 dollars. Now, although the analysis that it will go down to the price levels of $ 1,700 again can attract attention, it does not quite coincide with the market realities and the structural characteristics of Ethereum.
Although they suggest Ethereum has the potential to travel to the bottom, analysts also say that Ethereum’s bullish fundamentals remain intact, so a drop in price to $1,700 is a general indication for Ether. states that it will not break an uptrend. At the time of this writing, Ethereum leaves the bearish analyzes made with its price around $3250 absurd. The rest of the crypto market has been trading in the green for the past few days, with Bitcoin (BTC) hitting $44,000 again.
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