The price of Ethereum fell by about 20 percent in the last 30 days. Currently, the price of Altcoin is at $ 1,860. In the midst of this decline, the famous macro strategist and Bloomberg analyst Mike McGlone “Is there $ 1,000?” he asked.
Macro strategist pointed to $ 1,000 for leader Altcoin!
Bloomberg analyst Mike McGlone warns that other major subcoins can participate on this train if Ethereum maintains its downward momentum. Among the largest Altcoins, Ethereum witnessed the highest 30 -day decline. Meanwhile, the majority of the largest subcoins have tended to decline in the last 30 days. XRP depreciated by 4.5 %, BNB 1.65 %, left 9.4 %, Dogge 16.7 %, Link 10.6 %and AVAX 12.8 %. Mike McGlone questioned whether ETH would fall to $ 1,000 in his last article.
Currently, Ethereum is about 6 %below a significant support level of $ 2,000. Experts believe that 2000 dollars is an important psychological level. In this context, experts think that the price of Altcoin can fall up to $ 1,000 if it cannot remain above a psychological level of $ 2,000.
Why does the Ethereum price fall?
At the beginning of this month, the price of Ethereum was around $ 2,216.71. Since then, there has been a decrease of 15.48 %in the ETH market. The price of ETH was up to 2 $ 2,550,37 on March 2. However, the price is currently at least 26.59 %of the peak of the month.
Ethereum was expected to find support at $ 1,900. However, the level could not act as a strong support. Because ETH fell to $ 1,860. Mike McGlone says Ethereum price is linked to the wider financial market. Ethereum notes that if it falls further, it may affect the wider market, especially the S&P 500.
Altcoin investors continue to remain active
Reports show that despite the price decrease, the transaction volume of the market increased by 36.92 %. ETH’s 24 -hour trading volume is $ 14.48 billion. Today, at some point, the volume reached up to 19 billion dollars. This shows that investors’ interest in the market remains strong.
Experts believe that the ETH market is currently in the stage of making profits. After the market gets rid of this stage, they think that it may witness a strong upward acceleration. They believe that Ethereum has the advantage of strong long -term foundations. They also trust that Ethereum can benefit from increasing adoption, including the release of a Stablecoin issued by the Bank.
