Can it be less than $ 1,000?

Obviously, the month was not nice with the encryption market, especially Etherum. Its price decreased sharply, as it decreased to less than $ 2,500 after a massive penetration of $ 1.5 billion on the Bybit Stock Exchange last week. Reports say the attack carried out the Lazaros Group in North Korea.

This has led to a collapse of 25 %, and now, experts such as Benjamin Quinn warns that Ethereum may decrease further than $ 1,000.

Currently, the price of Ethereum does not show the recovery marks. It has already penetrated the main support levels, which means that it may continue to decrease. Some experts compare the decrease in the prices that occurred last year in April and August.

Either way, ETH fell hard but later bounced. This may not happen this time if the total market remains weak.

The US Federal Reserve’s monetary policy is something that seems to affect the price. The Federal Reserve controls the amount of money that flows into the economy, and at the present time, there is no incentive.

This is bad news for the encryption market because the lowest money in the market means that less people buy. In short, this means that there is no liquidity in the market.

“If the Federal Reserve remains firm for its tightening, Ethereum may decrease to less than 1500 dollars, and it may test 1200 dollars or even less before stability,” said the market analysts.

Meanwhile, Traderpa Crypto Analyst Traderpa says ethereum says, which means that the price may be less than it should be. He believes that ETH sits in the main price range where buyers can intervene.

He said: “Ethereum bounced strongly in the past after it has reached these levels, and if he repeated history, we may see a quick recovery.”

If the federal reserve changes its policy and began to pump money into the economy next month, Ethereum may return to a strong return. If ETH can stay above $ 2000, it may rise to $ 3500 or even 4000 dollars. But if the pressure pressure continues, the ethereum may decrease more before it recovers.

Also read: Bitcoin decreases by 11 %, but the analyst expects a huge return soon