Economist Knowing About Bitcoin Collapse Warns for Ethereum: $1,500 Is at the Door!

Famous economist Peter Schiff, nicknamed the “Gold Bug”, stated that Ethereum broke critical support levels and fell below $ 2,900 and has the potential to drop to $ 1,500.

Famous economist Peter Schiff stated in his post on Twitter on July 5 that Ethereum broke critical support levels and was traded below $ 2,900.

Predicting that Ethereum, which fell below $ 2,900 with a 30% drop from its peak in March, will drop to $ 1,500, Schiff stated that investors bought Ether ETF rumors and sold without waiting for the truth.

Schiff emphasized that this situation could mean further decline for Ethereum. The analyst also stated that the market becomes more volatile with such reactions and investors should be careful.

Knowing Bitcoin, is it Ethereum's turn?

Schiff stated last week that he thought the price of Bitcoin could fall below $59,000 in the near future. He also wrote that Bitcoin “has officially entered bear market territory again.” It was a matter of curiosity whether the analyst's claim about Ethereum would come true or not.

According to CoinGecko data, Ethereum is trading at $2,976 at the time of writing.

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