Summary
- Mike McGlone, a Bloomberg Intelligence analyst, stated that if Bitcoin and the S&P 500 index do not rebound, Ethereum could fall to $1000.
- He mentioned that since Ethereum shows a correlation with risk assets, significant price fluctuations are expected depending on market volatility.
- Currently, Ethereum is trading at $1863 on the Binance USDT market, which is up 0.26% from 24 hours ago.
If the prices of risk assets, including Bitcoin (BTC), do not recover, Ethereum (ETH) could fall to $1000 this year, according to an opinion.
On the 2nd (local time), Cointelegraph reported that Mike McGlone, a Bloomberg Intelligence analyst, stated, "Ethereum shows a clear correlation with other risk assets," and "If the S&P 500 index and Bitcoin do not rebound and continue to show a downward trend, Ethereum could fall to $1000 this year."
As of 5:18 PM, Ethereum is trading at $1863 on the Binance USDT market, up 0.26% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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