Ethereum’s Price Plunge: Is $1,400 the New Normal or Just a Bad Dream?

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Ah, Ethereum! The illustrious second cousin of Bitcoin, who, despite being invited to the grand ball of cryptocurrencies, has stumbled upon a banana peel of misfortune. The U.S. Securities and Exchange Commission, in a fit of generosity, has bestowed upon Ethereum the shiny badge of ETF approval in 2024, and yet, here we are, watching its price tumble like a clumsy dancer at a wedding. 💃

As the price of Ethereum takes a nosedive, the crypto traders, analysts, and hedge funds gather like a flock of crows, cawing and flapping their wings in a frenzy of speculation. What a sight to behold! 🦅

Enter Ted Pillows, the oracle of the crypto realm, who warns us with a grave expression that the worst is yet to come. He predicts a descent into the abyss, where Ethereum may find itself languishing in the $1,600–$1,400 range. His reasoning? A capitulation candle that looks suspiciously like the one from the infamous March 2020 crash. Oh, the drama! 🎭

$ETH capitulation candle mirrors the March 2020 crash.

I wouldn’t be surprised if ETH goes a bit lower from here towards $1.4K-$1.6K level.

But that doesn’t mean everything is over.

$10K ETH will happen this cycle 🚀

— Ted (@TedPillows) March 12, 2025

Ethereum’s potential to reach $10,000 remains plausible

Despite his rather gloomy forecast, our dear Ted still clings to the hope that Ethereum might one day soar to the dizzying heights of $10,000. A 530% increase from its current price of $1,880! Why, it’s almost as if he believes in fairy tales! 🧚‍♂️

Meanwhile, in the land of U.Today, news has emerged that Ethereum ETFs have seen a staggering $22 million in outflows, with BlackRock’s iShares Ethereum Trust ETF (ETHF) being the belle of the ball, attracting the largest inflow. How delightful! 🎉

In a bid to appease the restless spirits of the community, the Ethereum Foundation has made some rather critical changes, like a chef adjusting a recipe after a particularly scathing review. They’ve overhauled their leadership structures and are now prioritizing the use of core DeFi protocols like Aave for their financial escapades. How very modern! 🥳

Yet, despite these efforts, the crypto community remains skeptical, questioning the very essence of Ethereum’s underperformance this cycle. Critics argue that Ethereum has become as useful as a chocolate teapot compared to sprightly competitors like Solana. Oh, the irony! 🍫

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2025-03-13 02:48