Odaily Planet Daily News: 0xQuit, Vice President of Blockchain Business at Yuga Labs, posted on X stating that seeing someone predict the bottom of ETH at around $1500 seems reasonable given the market we are currently experiencing, but you need to ask yourself an important question - are we at the beginning or end of a bear market?
If this is the end of a bear market, that's great. BTC has hardly suffered a significant price blow, and its price remains stable at a level that was still a historical high just a few months ago, which is very bullish for BTC.
However, if this is the beginning of a bear market, then be prepared to see ETH prices far below $1500. It is quite absurd to think that the long-term bottom of an asset that has fallen by 30% this week and over 50% in the past three months is only 20% away from here. If the bear market has just begun, the target price for ETH may be $200-400, which means a further drop of 80% from the current price, for a total drop of 90%, consistent with past bear markets.
0xQuit concluded by saying, "Personally, I tend to be bullish at this position, but my position layout can also accept the market continuing to decline. If you cannot accept the worst expectations, please consider selling some
