Ethereum Could Crash To $800

Peter Brandt’s stunning prediction about Ethereum (ETH) electrified the crypto community. This veteran trader, whose career spans five decades, anticipates a price collapse to around $800, an unprecedented level since 2022. While ETH struggles to stabilize above $1,600, this warning reignites debates about the uncertain future of the second-largest crypto. Between relentless technical analysis and the unwavering optimism of some industry figures, the market is fractured. But who is really right?

Peter Brandt and the Descending Triangle Theory: An Apocalyptic Forecast for ETH Crypto?

Peter Brandt is no novice. Since the 1970s, he has decoded markets with near-mathematical rigor. His latest tweet, accompanied by a descending triangle chart, has sent chills through the community. This chartist pattern, often signaling a plunge, suggests to him a return of ETH crypto toward $800. A scenario painfully reminiscent of the 46% drop recorded over one year.

The timing of this alert is striking. On Wednesday, the Fed held its key rates steady, triggering shockwaves on Bitcoin (BTC) and Ethereum. As a result, ETH crypto lost 4% in a few hours before slightly rebounding to $1,601.

Brandt published his analysis as the price flirted with $1,587. For him, this rebound is just a illusion. The descending triangle, formed by lower highs and stable lows, would indicate an accumulation of sellers ready to break support levels.

But should this prediction be taken literally? The history of crypto markets is full of unfulfilled prophecies. Still, his technical argumentation deserves attention. Descending triangles, validated in 70% of cases in traditional trading, could prove just as formidable in crypto. Investor psychology, weakened by underperforming Ethereum ETFs compared to Bitcoin’s, adds a layer of pessimism.

Scottie Pippen, Justin Sun: Optimism as a Counterfire Strategy

Yet, in the shadow of alarmist predictions, other voices rise. Scottie Pippen, NBA legend turned crypto enthusiast, bets on a supercycle for altcoins. According to him, the takeoff would occur 340 days after Bitcoin’s last halving, around April 20, 2025. A timing that coincides with the recent SEC approval of Bitcoin and Ethereum ETFs.

But Pippen does not just speculate. He is developing a project on Ethereum, mixing AI, video games, and tokenization of real-world assets (RWA). A strategy that bets on the ETH crypto ecosystem as a technological foundation. “Ethereum is a playground for innovation, not a speculative casino,” he nuances.

A vision shared by Justin Sun, founder of Tron. Despite volatility, he refuses to liquidate his ETH. He favors partnerships with network developers, aiming to strengthen infrastructure rather than give in to panic.
These stances contrast with current flows. Ethereum ETFs, unlike Bitcoin’s, struggle to attract capital. Some see this as a lack of confidence, others as a buying opportunity before a rebound like gold’s. In any case, Sun and Pippen’s commitment highlights a reality: Ethereum remains a laboratory of ideas. DeFi, NFTs, and metaverses find fertile ground there, even in times of doubt.

Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.