Legendary name of the trade world Peter BrandtIn a recent tweet he shared, he shared a prediction that the world’s largest altcoin, Ethereum, could drop to $ 300.
Sharing the extreme bearish trend for the Ethereum price, Brandt stated that he would not “buy the leading altcoin, even with my enemy’s money.”
On Saturday, the cryptocurrency fell as low as $881 on the Binance exchange, its lowest level since December 2020. Ethereumcontinued to show an unsatisfactory performance to its investors.
ETH, which performed a very low value ‘relaxation rally’, did not exceed the $ 1000 level in the first stage, but after a while it rose towards the $ 1055 levels. The leading altcoin, which reached $4878 at its peak in November, has now lost an average of 80% value.
To reach Brandt’s $300 drop target, the leading altcoin needs to lose another 69% from here.
bitcoin Brandt, who also conveys his views on the subject, claims that there is still a 50% chance of it becoming “worthless”.
However, it continues to accept a scenario where the top cryptocurrency eventually reaches $500,000. Brandt announced a while ago that the price of Bitcoin continues to rise in the long run. However, he harshly criticized and attracted attention from community members who chose to marry their investments instead of thinking rationally. He conveyed his views by explaining to Brandt that “Crypto is a bad religion”.
The seasoned trader has been a long-time critic of excessive market enthusiasm, criticizing laser-eyed Bitcoin advocates. The expert still sees Bitcoin as just a tool for speculation and apparently rejects the idea that it has now become a legitimate investment.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.