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Ethereum Price Crash? Analyst Predicts Possible 50% Drop

TL;DR Ethereum’s price struggles below $2,800, with some analysts warning of a potential drop to $1,200 if key support fails. Others, including Michael van de Poppe, remain optimistic, citing Trump-linked investments as a bullish indicator. ETH Bulls to Suffer More Pain? Ethereum (ETH) – the second-largest cryptocurrency in terms of market capitalization – is among the very few leading digital assets that have not charted impressive gains during the bull cycle in the past several months. It currently trades at less than $2,800, representing a 24% decline on a 30-day scale. ETH Price, Source: CoinGecko And while many industry participants believe the asset has yet to catch up with Bitcoin (BTC) and the rest of the market, some are quite pessimistic. The popular X user Nebrascangooner recently claimed that the “potential cup and handle pattern” witnessed on ETH’s price chart is no longer valid. The analyst suggested that the valuation formed a double top in the past year, envisioning a collapse to as low as $1,200 if it loses the $2,400 support. “No breakdown currently, though, and it’s sideways in a large consolidation,” they added. The Bullish Scenario As mentioned above, the majority of analysts on X remain optimistic that ETH will hit a new all-time high in the following months. The one using the X moniker MANDO CT thinks the long-awaited rally of the asset “is about to happen,” setting a target of $10,000 per coin. Michael van de Poppe also chipped in, saying that if Donald Trump “bets massively on ETH, it’s almost foolish not to follow that route at these valuations.” To the uninitiated ones, World Liberty Financial (WLF) – a DeFi project linked to Donald Trump and his family – has recently made significant investments in Ethereum and other cryptocurrencies. Additionally, Eric Trump, the son of the American president, claimed that now is “a great time to add ETH.” Some key on-chain metrics also signal that the price of the asset might be on the verge of a rally. According to CryptoQuant, ETH’s exchange netflow has been negative in the past three days. This suggests a potential shift from centralized platforms toward self-custody methods, which in turn reduces the immediate selling pressure. The post Ethereum Price Crash? Analyst Predicts Possible 50% Drop appeared first on CryptoPotato .

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Exciting New Airdrop Offers Users a Chance to Earn BERA Coin

Binance announces BERA coin airdrop for eligible BNB holders in January 2025. The total supply of BERA coins is set at 500 million, with inflation features. Continue Reading: Exciting New Airdrop Offers Users a Chance to Earn BERA Coin The post Exciting New Airdrop Offers Users a Chance to Earn BERA Coin appeared first on COINTURK NEWS . Crypto Potato

Have Bitcoin and Cryptocurrencies Become Safe Havens? Analyst Evaluates

Moneta’s Chief Global Market Strategist and Senior Investment Advisor, Aoifinn Devitt, has challenged the notion that cryptocurrencies are a safe haven asset. Speaking about the recent market downturn, Devitt explained that crypto remains a “risk-on” asset rather than a stable hedge against market volatility. Ethereum fell a sharp 27% on Sunday, reigniting debate over whether digital assets can serve as a safe haven during financial turmoil. Devitt rejected the idea, saying: “I never called it that. I`m not sure who holds that position as an advisor. “We don’t yet have enough information about this asset class from a 360-degree perspective to determine how it would perform in the event of a market crash.” Devitt noted the uncertainty around how cryptocurrencies will respond to fundamental economic factors like interest rates and inflation, adding that crypto acts as an extremely “risky” asset and requires a high tolerance for volatility. While some proponents have dubbed Bitcoin “digital gold,” Devitt remained skeptical about its status as a safe haven. “It may be on par with gold in terms of acting as a hedge in a portfolio, but only as a hedge against fiat,” he explained. He also noted that despite Bitcoin’s appeal as an alternative to traditional money, demand for fiat currencies, especially the U.S. dollar, remains strong. “There doesn’t seem to be much of an appetite for fiat currencies right now,” he added. Speaking about the volatility in the crypto market, Devitt acknowledged that Bitcoin, while affected by declines, tends to be more stable than other digital assets like Ethereum. “Bitcoin is definitely seen as the first cryptocurrency. If you want to take a little bit of risk with less volatility, Bitcoin could be a good place to start,” he said. With the emergence of Bitcoin exchange-traded funds (ETFs), Devitt noted that the asset class has become more mainstream and liquid. However, he made it clear that this does not mean safety. “We are not in a safe haven area, but we are in a more accessible market,” he said. “It is a relatively calm place, but it is by no means a safe haven.” *This is not investment advice. Continue Reading: Have Bitcoin and Cryptocurrencies Become Safe Havens? Analyst Evaluates Crypto Potato