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
