Ethereum price risks falling to $1.2K next, analyst warns

[Abiky]

What will make Ethereum to fall to that level is if Bitcoin price also continues to fall, we know how the prices move simultaneously, when Bitcoin goes below $59k, we would definitely see ETH getting to that $1.2k, so I think where this analyst can be right if the down trend of the market continues the way it's going but I believe that when the market starts to go bullish again, that would cause the market cap to change again.

At this point, it seems the analyst's prediction of ETH falling towards $1.2k will become a reality. It might even go lower than that if BTC keeps going downhill. It seems that crypto has officially entered the "bear market" (otherwise known as the crypto winter). If ETH goes lower than $1k, then something must be terribly wrong. Obviously, BTC's decline will have a "mirror effect" on Ethereum. But "Wall Street" getting into Ethereum, should prove to be a strong resistance against any further dips in price.

We'll have to see if institutional interest/demand for ETH will increase over the long term. I'm confident that will be the case. Because ETH one thing no other competitor has. And that is decentralization/reliability. It's already a "winner" in my book.

[dwyane36]

What will make Ethereum to fall to that level is if Bitcoin price also continues to fall, we know how the prices move simultaneously, when Bitcoin goes below $59k, we would definitely see ETH getting to that $1.2k, so I think where this analyst can be right if the down trend of the market continues the way it's going but I believe that when the market starts to go bullish again, that would cause the market cap to change again.

At this point, it seems the analyst's prediction of ETH falling towards $1.2k will become a reality. It might even go lower than that if BTC keeps going downhill. It seems that crypto has officially entered the "bear market" (otherwise known as the crypto winter). If ETH goes lower than $1k, then something must be terribly wrong. Obviously, BTC's decline will have a "mirror effect" on Ethereum. But "Wall Street" getting into Ethereum, should prove to be a strong resistance against any further dips in price.

We'll have to see if institutional interest/demand for ETH will increase over the long term. I'm confident that will be the case. Because ETH one thing no other competitor has. And that is decentralization/reliability. It's already a "winner" in my book.

The bear market has been going on for quite some time now. To be more precise, since last October, many assets, including ETH, have been doing nothing but falling. The recent market decline only confirms the existence of this trend.
As for the possibility of ETH falling to $1k, I wouldn’t say that would be "something terribly wrong." On the contrary, such a sharp sell-off should be viewed as an opportunity to buy a long-term asset like ETH at an attractive price.

[M47AK16]

The bear market has been going on for quite some time now. To be more precise, since last October, many assets, including ETH, have been doing nothing but falling. The recent market decline only confirms the existence of this trend.
As for the possibility of ETH falling to $1k, I wouldn’t say that would be "something terribly wrong." On the contrary, such a sharp sell-off should be viewed as an opportunity to buy a long-term asset like ETH at an attractive price.

Some people do not even realize that we have been in the bear market since October, and not just this week. It had a big drop this week so they think it started now, but it has been going down since October and this is just continuation of that bear market.

I agree that if you see coins going down, that is not a bad thing, we all know it recovers anyways, and next bull run will be 5k+ without a doubt, so if you buy bitcoin when it goes to 1k, you could make x5 return in 2-3 years, that's not a bad return at all.

[Abiky]

The bear market has been going on for quite some time now. To be more precise, since last October, many assets, including ETH, have been doing nothing but falling. The recent market decline only confirms the existence of this trend.
As for the possibility of ETH falling to $1k, I wouldn’t say that would be "something terribly wrong." On the contrary, such a sharp sell-off should be viewed as an opportunity to buy a long-term asset like ETH at an attractive price.

I hope you're right, because a new ATH has been long overdue for ETH. It's not only about reaching a new ATH, but retaining such prices for a prolonged period of time. The new ATH should eventually become the new bottom, paving the way for higher market prices in the distant future. Just like it's the case with Bitcoin.

If you compare ETH's price performance in 2021 vs today, you'll basically have the same amount of money (in Fiat terms). Even less than that due to the bearish market (which led ETH to fall less than $2k per coin). Some ETH developers are beginning to jump ship. Even Harvard exited from ETH. We'll see if things change in the long run.

[TastyChillySauce00]

The bear market has been going on for quite some time now. To be more precise, since last October, many assets, including ETH, have been doing nothing but falling. The recent market decline only confirms the existence of this trend.
As for the possibility of ETH falling to $1k, I wouldn’t say that would be "something terribly wrong." On the contrary, such a sharp sell-off should be viewed as an opportunity to buy a long-term asset like ETH at an attractive price.

I hope you're right, because a new ATH has been long overdue for ETH. It's not only about reaching a new ATH, but retaining such prices for a prolonged period of time. The new ATH should eventually become the new bottom, paving the way for higher market prices in the distant future. Just like it's the case with Bitcoin.

If you compare ETH's price performance in 2021 vs today, you'll basically have the same amount of money (in Fiat terms). Even less than that due to the bearish market (which led ETH to fall less than $2k per coin). Some ETH developers are beginning to jump ship. Even Harvard exited from ETH. We'll see if things change in the long run.

On May, Vitalik Buterin announced that Ethereum Foundation will be reducing sales, at the same time Bitmine is releasing 9.5% yield preferred stock to fund their Ethereum Strategy.
If everything is normal, the outlook for Ethereum is pretty bullish for the long term but it still got carried away by the BTC price movement from my perspective.

[DanWalker]

On May, Vitalik Buterin announced that Ethereum Foundation will be reducing sales, at the same time Bitmine is releasing 9.5% yield preferred stock to fund their Ethereum Strategy.
If everything is normal, the outlook for Ethereum is pretty bullish for the long term but it still got carried away by the BTC price movement from my perspective.

The entire crypto industry is still influenced by Bitcoin's volatility, not just Eth. ETH could drop to $1200 or even below $1000, but this will depend on Bitcoin. It is unlikely for ETH to decline while Bitcoin is rising.
In the long run, despite all the FUD surrounding the Eth ecosystem. I still believe it will recover and grow strongly again in the future. ETH is different and on a different level compared to the rest of the altcoin.

In my opinion, what happened to ETH in this cycle was simply manipulation. When too many people pile into ETH with high expectation of massive profit, it is understandable that the market can move in the opposite direction.

[WatChe]

The entire crypto industry is still influenced by Bitcoin's volatility, not just Eth. ETH could drop to $1200 or even below $1000, but this will depend on Bitcoin. It is unlikely for ETH to decline while Bitcoin is rising.
In the long run, despite all the FUD surrounding the Eth ecosystem. I still believe it will recover and grow strongly again in the future. ETH is different and on a different level compared to the rest of the altcoin.

In my opinion, what happened to ETH in this cycle was simply manipulation. When too many people pile into ETH with high expectation of massive profit, it is understandable that the market can move in the opposite direction.

Not only Ethereum but all top alts are very much dependent on price of Bitcoin. We saw decline in price of Ethereum mainly because of Bitcoin price going down to 59.3k few days ago. Now Bitcoin price has gone up to 63k and thats why Ethereum along with other alts have also made recovery. If Bitcoin can continue its upward moment then soon Ethereum will touch 2k and in case Bitcoin fall below 60k then there is chance that Ethereum may also fall below 1k. Lets see how Bitcoin behaves in coming days because that will decide fate of alts also.