Chris Burniske, former head of Ark Invest crypto division and analyst, recently made a notable prediction for the leading altcoin Etheruem. In his prediction shared a few days ago, the analyst said that Ethereum would take its investors to Valhalla (the paradise in Scandinavian mythology).
Chris Burniske changed his perspective and made a new prediction that Ethereum may have to suffer a serious drop before reaching its ultimate goal.
Burniske last Twitter in sharing “To reach Valhalla, we have to die first”, implying that Ethereum could face a significant drop in value, potentially resulting in liquidation for some traders. He likened this process to death, a metaphor that highlights the volatility of the cryptocurrency market.
Besides, Burniske remains optimistic for the leading altcoin in the long term. The analyst believes that Ethereum will continue to support the growth of its underlying technology and infrastructure and will attract more developers and users to the network.
Koinfinans.com It is worth noting that as we have reported, cryptocurrency markets are highly unpredictable and any sudden change in market sentiment can affect the price of Ethereum and other assets. However, Burniske’s revised forecast on Ethereum highlights the importance of fundamental analysis in the cryptocurrency space and the importance of considering long-term trends and developments when making investment decisions.
In the case of Ethereum, the largest altcoin in the market has lost about 6.5% of its value in the last 24 hours.
You can follow the current price action here.