The Vice President of the Blockchain of Yuga Labs has warned that Ether can drop by less than $ 200 in a long bear market, a 90% decline from its current price.
In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts suggesting $ 1,500 as a possible bottom for Ether (Eth). Instead, Quit argued that a true bear market could see ETH falling lower, just like the previous cycles in the market.
“A real bear market target, if we just start, is ~ $ 200- $ 400. That’s an 80% drawdown out of it, 90% total drawdown – in accordance with previous bear markets.”
The executive said he was in a “comfortable” position if things go south. Quit told followers to consider selling their stash if they were not comfortable with lowering the asset.
Source: Stop it
ETH holders discuss potential prices
Quit’s post contacted mixed -up reactions from the crypto community. Some investors have come to terms with that ETH may even go down, while others say the scenario will require a basic systematic collapse similar to 2018.
An x user Says They set $ 1,800 as bottom. However, when the price reached $ 1,800, they wondered if it could go to $ 1,200. The eth holder said in Quit’s prophecy and said, “it could be lower” if bitcoin (Btc) goes to $ 66,000.
Meanwhile, another X user does not agree with the prophecy, stating that it is only possible if there is a systematic collapse similar to 2018. The ETH investor Says That, unlike previous cycles, the ether was adopted by institutions and had an ecosystem.
“Positioning for both situations is what every wise investor should do, but being too bearish at the wrong time can be expensive as much as excessive upbringing,” they wrote.
Related: 4 items should happen before Ethereum gets $ 2,600
ETH whales scramble against threat to extermination
Quit’s feelings came as ETH whales scrambled to avoid extermination as Ether prices collapsed. On March 11, coingecko data showed that ETH prices went to a low $ 1,791 in a 22% decline in the past 7 days.
Due to sharp price changes, ETH whales have moved millions of dollars to ETH to protect their positions against potential extermination.
Blockchain analytics firm lookonchain That -flag An Eth Whale releasing $ 47.8 million and lost $ 32 million to prevent liquid. The whale still has more than $ 64 million in the Lending Protocol Aave with a winning price of $ 1,316.
Another ethical investor who used more than $ 5 million in properties to decrease the price of extermination to $ 1,836 began to be liquid. Lookonchain Says The $ 121 million whale balance is liquid as the price drops below $ 1,800.
A whale account suspected to be linked to the Ethereum Foundation also uses $ 56 million in ETH to avoid extermination amid price collapse. The address was deposited by more than 30,000 ETHs in the Sky Vault, which brings its extermination price to $ 1.127.14. The account will eventually be determined to be not relevant to the foundation.
https://www.youtube.com/watch?v=FWO0hw_94a4
Magazine: Eth Whale’s wild $ 6.8M ‘Mind Control’, Bitcoin’s power robbery: Asia Express
