Could Ethereum Crash Below $1000 Like In 2022?
Ethereum (ETH) is facing a steep price crash amid a market-wide wipe out. The second-largest cryptocurrency by market cap has dipped to the $1552 price level as of press time. CoinGecko data shows that ETH’s price has fallen by 9% in the last week and more than 25% in the previous month. Many anticipate the bearish market environment to persist for the time being. Let’s discuss if Ethereum (ETH) could fall below the $1000 mark like it did in 2022. Source: CoinGecko Will Ethereum Fall Below $1000 Again? Source: Pixabay Ethereum’s (ETH) price fell to $995 in June 2022, just about four years ago. 2022 was one of the worst years for the crypto sector. We saw the collapse of FTX which had a cascading effect. Bitcoin (BTC) briefly fell to the $15,000 price level and investors felt major shock waves. Ethereum’s (ETH) current bearish sentiment arises due to macroeconomic worries arising geopolitical tensions. The war in the Middle East and the closure of the Strait of Hormuz caused significant...