Ethereum’s Price Plunge: Is It Time to Panic or Just Laugh? 😂

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Ah, the venerable Peter L. Brandt, a chap who has been trading commodities since the days when bell-bottoms were all the rage, has once again set the crypto world ablaze with his latest proclamation. In a tweet that could only be described as a veritable bombshell, he predicts that Ethereum, that sprightly second-largest cryptocurrency, is destined to plummet to a rather dismal $800, a level reminiscent of its 2022 lows. One can almost hear the collective gasp of the crypto enthusiasts! 😱

ETH to revisit $800, Peter Brandt predicts

Brandt, with the air of a seasoned oracle, shared a chart that could make even the most stoic of traders weep. This chart, a masterpiece of descending triangles, suggests that Ethereum’s price trajectory is headed south faster than a pigeon in a windstorm. 🕊️💨

Now, let us not forget that over the past year, Ethereum has already taken a rather impressive tumble of 46%. Just last Wednesday, it took a nosedive of 4% after Bitcoin decided to follow the Federal Reserve’s lead like a lost puppy. However, in a twist worthy of a Shakespearean comedy, it managed to recover by 3.56% and is currently trading at a robust $1,601. When Brandt unveiled his chart, ETH was at a mere $1,587. Talk about timing! ⏰

ETHUSD

— Peter Brandt (@PeterLBrandt) April 18, 2025

Earlier this week, our dear Peter did not mince words, branding Ethereum as “worthless junk.” One can only imagine the uproar that caused among the Ethereum faithful! 😅

Scottie Pippen and Justin Sun bullish on Ethereum

In a delightful twist of fate, the legendary NBA player Scottie Pippen has thrown his hat into the ring, predicting that this Sunday will herald the dawn of the biggest altcoin season since the invention of the wheel. He claims that historically, such bull runs commence approximately 340 days after a Bitcoin halving. Who knew basketball and crypto had so much in common? 🏀💰

The last halving took place on April 20 of last year, a date that will surely go down in infamy. That same year, the SEC decided to bless us with spot ETFs based on Bitcoin and Ethereum. However, it seems Bitcoin ETFs are enjoying a much more glamorous life, with higher inflows and smaller outflows than their Ethereum counterparts. Poor Ethereum, always the bridesmaid, never the bride! 👰

Scottie, ever the optimist, has declared himself bullish on ETH for the long haul, as he is busy building a project on this very network, focusing on AI, gaming, and the tokenization of real-world assets. One can only hope he has a good team of developers! 🤖🎮

Meanwhile, Justin Sun, the founder of Tron and owner of two crypto exchanges—Poloniex and Huobi—has also chimed in. Despite Ethereum’s recent performance resembling a cat stuck in a tree, he has vowed not to sell his Ethereum holdings. Instead, he plans to seek out opportunities to collaborate with Ethereum developers, proving that even in the world of crypto, teamwork makes the dream work! 🤝

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2025-04-19 11:33