Ethereum’s Rocky Road: $1,500 Crash on the Horizon?

Peter Schiff’s Bearish Prediction

Economist Peter Schiff, a known crypto skeptic, predicts a sharp drop for Ethereum (ETH), down to a mere $1,500. This forecast comes as ETH struggles below $3,000, a significant decline from its March peak.

Market Response to ETF Rumors

Schiff believes the market’s reaction to rumors of an Ethereum ETF has triggered premature selling, adding to the downward pressure on ETH’s price.

Community Reaction

Schiff’s prediction has sparked mixed reactions within the crypto community. Some question its technical basis, while others humorously suggest it may signal a buying opportunity.

Ethereum’s Critical Juncture

ETH currently trades at $2,975, facing a crucial 8-hour trading window. If it can rise above current levels, it may ease the bearish trend. However, failure to do so could lead to further declines.

Inspo Crypto’s Perspective

Crypto analyst Inspo Crypto offers a more moderate view. He suggests that if ETH fails to reach $3,170, it could fall further to $2,700, potentially exacerbating losses in the altcoin market.