Since the peak of the cryptocurrency bull run two years ago, the market for cryptocurrencies has had trouble getting back to an all-time high price. This started when Bitcoin reached a price of $20,000 and became well-known, and alternative cryptocurrencies like Ethereum made investors rich.

As a result, the value of Ethereum skyrocketed to more than $1,400 per ETH as a result of the ICO boom’s increased demand for the commodity.

Even if BTC one day soars to $50,000 or more, according to an analyst, the price of ETH may fall below $1,000.

Today’s Ethereum Price

Since the cryptocurrency market is following the macro trend, Ethereum (the second-largest crypto asset) will experience more downtrend during the recession.

It is predicted that ETH will follow the stock market once the markets feel the pressure of increasing rates and the continuous pressure of inflation and even recession.

According to a crypto analyst, Ethereum will never again rise close to or exceed $1k per ETH, even if Bitcoin reaches $50k per BTC.

All altcoins, including Bitcoin, are still down from their all-time highs. However, most altcoins have gone below 80% or more and have lost a massive value in their BTC ratios.

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