According to Schiff, the recent surge in support for Ethereum was due to rumors of Ethereum-ETF (ETH-ETF) adoption, but the market crash dictates its own real circumstances. And the cryptocurrency has broken key support levels, losing 30% from its March highs. Schiff believes that Ethereum will fall to $1,500, as it is currently below $2,900.
There was a sharp decline on July 5, initially falling below $2900 but later recovering. However, the asset still lost 5% on the day.
“I think there will be a drop to $1,500. It seems like those who bought on the ETH-ETF rumors are eagerly waiting for the truth [начала] Schiff is confident.
Source: Ferra
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