Ethereum în pragul unei prăbușiri de 40% - prețul ETH poate scădea la trei cifre în săptămânile următoare

Cryptocurrencies retain the bearish mood into the weekend after a turbulent week, with both Bitcoin and Ethereum slumping.

On Saturday, Bitcoin fell beneath $17,000 once more after another development of the troubled FTX surfaced online.

Today’s decline in Ethereum’s price kept the currency below $1,300. . Following a carnage week, the markets were given a break by the fleeting glimmer of hope.

The future direction of Ethereum (ETH) depends on it holding a crucial support level, according to Mike McGlone, senior macro strategist at Bloomberg Intelligence.

McGlone said that the second-largest cryptocurrency may drop to a two-year low of roughly $500 if Ethereum’s support level above $1,000 slumps.

Ethereum

According to him, the Ethereum support at $1,000 might be an important turning point since it represents more of the financial-markets revolution taking place in cryptocurrencies, which is similar to the introduction of futures and exchange-traded funds.

In contrast to Bitcoin, the chart shows the No. 2 cryptocurrency’s consistent rising  trend and also the absence of support after $1,000.

McGlone also said that Ethereum’s switch to a proof-of-stake consensus algorithm has had a positive influence on Ethereum.

„Trecându-se la dovada mizei pe fondul crizei energetice, Ethereum, ca platformă principală pentru criptodolari, a oferit o relativă flotabilitate.”

Bitcoin

Looking at Bitcoin (BTC), McGlone said that for a bullish scenario to happen, the $20,000 resistance level needs to turn into support.

„Susținerea peste 20,000 de dolari ar trebui să fie necesară pentru a afirma recuperarea la niveluri pe care ne așteptăm ca în cele din urmă să readucă Bitcoin pe o traiectorie ascendentă alungită. Revenirea către un suport bun în zona de 10,000 USD – 12,000 USD este riscul de scădere.”

FTX saga continues

Sam Bankman-Fried, the founder of FTX, made a long apology on Twitter on Thursday, outlining several problems at the company and announcing the closure of Alameda Research, a sister company. Later, FTX allowed for restricted withdrawals, which led to consumers withdrawing millions from the exchange