Yuga exec warns about ‘true bear market’ Ether price as whales scramble
The bearish sentiment emerged as Ether whales scrambled to avoid being liquidated amid a 22% price decline over the last seven days.
Yuga Labs’ vice president of blockchain warned that Ether could drop as low as $200 in a prolonged bear market, a 90% decline from its current price.
In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts who suggested $1,500 as the possible bottom for Ether (ETH). Instead, Quit argued that a true bear market could see ETH fall significantly lower, similar to previous market cycles.
The executive said he’s in a “comfortable” position if things go south. Quit told followers to consider selling their stash if they’re uncomfortable with the asset going down.
The bearish sentiment emerged as Ether whales scrambled to avoid being liquidated amid a 22% price decline over the last seven days.
Yuga Labs’ vice president of blockchain warned that Ether could drop as low as $200 in a prolonged bear market, a 90% decline from its current price.In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts who suggested $1,500 as the possible bottom for Ether (ETH). Instead, Quit argued that a true bear market could see ETH fall significantly lower, similar to previous market cycles.The executive said he’s in a “comfortable” position if things go south. Quit told followers to consider selling their stash if they’re uncomfortable with the asset going down. Read more