The Ethereum ETF has lost 15% in two weeks, causing the price of ETH to fall below $3,000.
Peter Schiff predicts that Ethereum could drop another 30% and could soon fall below $2,000.
Gold prices rose 2% this week, showing stability amid a fall in cryptocurrencies.
The much-anticipated Ethereum
After the launch of the (ETH) spot ETF in the United States, it did not drive up the price of ETH. On the contrary, since the launch of the ETF, ETH
Prices have been falling. Peter Schiff, a well-known economist and global strategist, noticed the trend and pointed out that both Ethereum and Bitcoin have seen significant declines, while gold has remained strong.
Ethereum ETF struggles, ether price falls
Ethereum
The ETF had a bad start, with net inflows of only $107 million on the day of its launch, significantly lower than the $655 million that the Bitcoin ETF attracted when it debuted.
In the two weeks since its launch, Ethereum ETFs have experienced significant outflows, led by Grayscale’s Ethereum ETF, which saw $61.4 million in outflows.
At the same time, Peter Schiff pointed out that the Ethereum ETF has fallen 15% in just two weeks and closed at a new low this week. As a result, the price of Ethereum has fallen below $3,000, down 5.3% in the past 24 hours and nearly 9% in the past week.
Schiff believes that Ethereum could fall another 30% from current levels. With the continued massive outflows from Ethereum ETFs, he predicts that Ethereum will soon fall below $2,000.
Gold, meanwhile, is up 2% this week, showing its stability in volatile markets. Schiff stressed his long-held belief in gold as a more stable investment. “The race is over. Gold wins the medal,” he declared.
Bitcoin in the Japanese Market
Bitcoin, on the other hand, is down 10% this week and is currently trading at $61,613. Bitcoin is much less stable than gold. Peter Schiff believes that Bitcoin’s volatility makes it a riskier investment.
Schiff also looked at Bitcoin’s performance in the Japanese market. Bitcoin fell 13% against the yen, which is a concern for Japanese investors who have been viewing Bitcoin as a safe haven.
In contrast, gold priced in yen fell only 2.5%, which is relatively small considering that Japanese stocks fell 7.3% this week. Schiff said Japanese investors may soon abandon Bitcoin and turn to more stable assets such as gold.
The Ethereum ETF has lost 15% in two weeks, causing the price of ETH to fall below $3,000.
Peter Schiff predicts that Ethereum could drop another 30% and could soon fall below $2,000.
Gold prices rose 2% this week, showing stability amid a fall in cryptocurrencies.
The much-anticipated Ethereum (ETH) spot ETF has not led to an increase in ETH prices since its launch in the United States. Instead, ETH prices have been falling since the ETF was launched. Renowned economist and global strategist Peter Schiff has noticed this trend, noting that both Ethereum and Bitcoin have fallen sharply, while gold has remained strong.
Ethereum ETF struggles, ether price falls
Ethereum ETFs got off to a bad start, with net inflows of just $107 million on the day of their launch, significantly less than the $655 million that the Bitcoin ETF attracted on its debut. In the two weeks since their launch, Ethereum ETFs have experienced significant outflows, led by Grayscale’s Ethereum ETF, which saw $61.4 million in outflows.
At the same time, Peter Schiff pointed out that the Ethereum ETF has fallen 15% in just two weeks and closed at a new low this week. As a result, the price of Ethereum has fallen below $3,000, down 5.3% in the past 24 hours and nearly 9% in the past week.
Schiff believes that Ethereum could fall another 30% from current levels. With the continued massive outflows from Ethereum ETFs, he predicts that Ethereum will soon fall below $2,000.
Gold, meanwhile, is up 2% this week, showing its stability in volatile markets. Schiff stressed his long-held belief in gold as a more stable investment. “The race is over. Gold wins the medal,” he declared.
Bitcoin in the Japanese Market
Bitcoin, on the other hand, is down 10% this week and is currently trading at $61,613. Bitcoin is much less stable than gold. Peter Schiff believes that Bitcoin’s volatility makes it a riskier investment.
Schiff also looked at Bitcoin’s performance in the Japanese market. Bitcoin fell 13% against the yen, which is a concern for Japanese investors who have been viewing Bitcoin as a safe haven.
In contrast, gold priced in yen fell only 2.5%, which is relatively small considering that Japanese stocks fell 7.3% this week. Schiff said Japanese investors may soon abandon Bitcoin and turn to more stable assets such as gold.
