- 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.
STAT AI Notice
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
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 BloomingBitPiCK News
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