Cryptocurrency analysts predicted the apocalypse of altcoins

on September 11, Matrixport analyst Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Marcus Thielen publisheda fresh report on cryptocurrencies titled «The Coming Crash of Altcoins.» The crypto expert predicts a huge drop in Ethereum and other virtual coins.

«Ethereum has also proven to be not 'ultrasonic money,'» Thielen said. «However, the network still looks very strong in the long run.»

The analyst added that the price of Ethereum remains close to the psychologically important level of $ 1600, noting: «A break could lead to lower prices, especially if revenue growth disappoints [інвесторів — ред.].»

The report also notes that the current levels of the leading altcoin «make it necessary to be extremely cautious about ether.» Thielen warns: «We can even imagine a scenario in which prices fall significantly by the end of the year.»

The crypto expert emphasized that if ETH drops below $ 1,500, the digital asset could eventually fall to $ 1,000.

«A decline below $ 1,500 could bring back the idea that ethereum could drop to $ 1,000, a level that would seem justified based on the revenue forecast for the Ethereum ecosystem,» Thielen emphasized. However, according to the analyst, a return to the $ 1,000 level for ETH is unlikely unless bitcoin falls to the cycle lows it reached after the FTX crash.

Today, September 12, Ethereum is down 2.17% at $ 1,580. The total number of coins circulating on the market amounted to $ 189.9 billion, and traders made daily trading deals worth $ 8.6 billion.