**Peter Schiff Raises Concerns About Ethereum’s Future, Suggesting It Could Fall Below $1K; ETH Recovers to $1,570 After Hitting $1,437 Low, Needs to Reclaim $1,850–$1,900 to Shift Trend**
Ethereum (ETH) is currently trading around $1,570 after a 4% rebound from a recent low of $1,437.84. This dip was influenced by broader market reactions to new U.S. trade policies, and analysts are split on what might happen next for ETH. Notably, Peter Schiff, a well-known advocate for gold and a critic of Bitcoin, has reiterated his bearish stance, suggesting that Ethereum could potentially drop below $1,000. He referenced the 2022 crash when ETH briefly fell under that threshold as a warning sign. Schiff pointed out that current market conditions, including Ethereum’s underperformance against Bitcoin (BTC) and gold, indicate further declines may be on the horizon. “The chart is horrible,” he remarked, highlighting the ongoing downtrend in the ETH/BTC ratio.
However, supporters of Ethereum argue that the cryptocurrency has a growing array of use cases that extend beyond mere price fluctuations. Mert Mumtaz, CEO of Helius, dismissed Schiff’s predictions as lacking originality, stating, “Predicting prices to drop more is hardly a bold take.” Others have pointed to Ethereum’s network upgrades and its increasing adoption in decentralized finance (DeFi) as factors that could help mitigate short-term volatility.
For Ethereum to break free from its current bearish trend, analysts at ETHNews suggest it needs to reclaim the $1,850–$1,900 range with strong trading volume, a level that has acted as resistance since April. If it fails to maintain support at $1,750, there could be a further decline toward $1,650, with risks increasing below that mark. The ETH/BTC ratio, which measures Ethereum’s performance against Bitcoin, is currently at multi-year lows, indicating weaker demand compared to BTC, which has shown resilience amid ongoing macroeconomic uncertainties. Schiff views this as a sign of Ethereum’s structural weaknesses, while supporters attribute it to Bitcoin’s status as a market benchmark.
Ethereum’s recent 20% drop overnight highlights its sensitivity to macroeconomic changes. Nevertheless, the ecosystem continues to attract developers, with activity in DeFi and layer-2 networks on the rise. Advocates believe these developments could provide some protection against prolonged downturns, even if prices face short-term challenges. Schiff’s comparison of Ethereum to gold—an asset he champions—overlooks Ethereum’s unique capabilities in smart contracts and tokenization. Still, his warnings resonate with traders who are cautious about ETH’s correlation to risk assets during turbulent market conditions.
As traders keep a close eye on key price levels, a move above $1,900 could spark renewed bullish momentum, while a drop below $1,400 might lend credence to Schiff’s bearish outlook. In the fast-paced world of crypto, such pivotal moments often unfold quickly, leaving little room for hesitation.
Currently, Ethereum (ETH) is trading at $1,474.05 USD, reflecting a notable 6.04% decline in the last 24 hours and a more significant 22.96% drop over the past week. Despite these recent challenges, Ethereum remains firmly established as the second-largest cryptocurrency, boasting a market capitalization of approximately $177.8 billion and a daily trading volume exceeding $21.6 billion.
