Analyst says ETH price could crash down to $300

A famous analyst believes that an epic collapse could be at the forefront of the leading smart contract platform by the end of 2022.

Justin BennettThis weekend, a famous cryptocurrency analyst expressed that The price of ETH will drop to $300 by the end of 2022.

Bennett tweeted to his 105,500 followers that he sees Ethereum falling to the bottom of the profile alcohol market Which makes it in the aforementioned form.

They will say, “This will never happen.”

I’ve already done over the past # encrypt Alcohol market.

And that was without a global recession, and a bear market for #StoresInflation has risen to new highs in many developed countries.

– Justin Bennett (@JustinBennettFX) August 19, 2022

“Unliked Opinion: ETH Floor Probably Closer to $300 Than $1,000.”

The expert went on to write: They will say, “This will never happen.” It actually happened during the last cryptocurrency bear market. And that was without a global recession, a bear market, and inflation rising to new highs in many developed countries.”

Currently, ETH price is trading at $1,694. The move towards Bennett’s target indicates an 80% downside risk for the top cryptocurrency by market capitalization.

Regarding BitcoinBennett thinks BTC may be heading lower after taking out channel support: “This could become a higher low for BTC. I keep thinking we go lower.”

End of this week , Bitcoin price reached $21300is still below Bennett trendline support.

Bennett says he expects an average American dollar (DXY), which links the US dollar to a basket of other fiat currencies, continues to rise.

Finally, in addition, Note that the rally in DXY does not bode well for Bitcoin and Ethereum.

Read on:

► Coinbase highlights USDC as a major player in financial transformation
► Chainlink will not accept Ethereum forks
► A popular crypto standard believes that ETH will reach $5,000 in 2023

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