The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Top Crypto Analyst Predicts Brutal Ethereum (ETH) Collapse Toward End of Year – Here’s His Target

by Daily Hodl Staff
August 21, 2022
in Bitcoin, Ethereum, Trading

A closely tracked crypto strategist is predicting an epic collapse for leading smart contract platform Ethereum (ETH) heading into 2023.

Popular crypto analyst Justin Bennett tells his 105,500 Twitter followers that he sees Ethereum plunging to a bear market bottom of around $300 as 2022 expires.

“Unpopular opinion: the ETH bottom is probably closer to $300 than $1,000. ‘That’ll never happen,’ they’ll say. It already did during the last crypto bear market. And that was without a global recession, a bear market for stocks, and inflation ripping to new highs in many developed countries.”

Image
Source: Justin Bennett/Twitter

At time of writing, Ethereum is changing hands for $1,594. A move to Bennett’s target suggests a downside risk of about 80% for the top altcoin by market cap.

As for Bitcoin, Bennett believes BTC is likely headed to lower prices after taking out its channel support.

“This can still turn into a higher low for BTC, but the optics aren’t great. I still think we go lower.”

Image
Source: Justin Bennett/Twitter

At time of writing, Bitcoin is swapping hands for $21,312, still below Bennett’s trendline support.

Bennett says he expects the US dollar index (DXY), which pins the US dollar against a basket of other fiat currencies, to continue rising. He notes a rising DXY does not bode well for both Bitcoin and Ethereum.

“Today’s pullback from stocks and crypto was advertised by the DXY reclaim on the 15th.

There’s always a canary in the coal mine… The trend is your friend unless it’s the DXY. 112-113 first, but most likely 120 in the next few months.

USD up means risk assets down. Stocks, crypto, BTC, ETH.”

Image
Source: Justin Bennett/Twitter
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

Submit a Press Release

Industry Announcements

  • Coinbase-Backed DeSo Unveils MegaSwap, a ‘Stripe for Crypto’ Product, With Over $5 Million in Volume
    February 7, 2023
  • Chainflip Partners With Axelar and Squid To Expand DeFi to New Assets
    February 7, 2023
  • Sidus Heroes Named Number One Gaming Metaverse in UAE
    February 7, 2023
  • Binance Launches Free Tax Tool To Provide Tax Details for Crypto Transactions in First Step of Global Launch
    February 6, 2023
  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,157.20
$23,157.20
0.54%
Ethereum
$1,659.81
$1,659.81
0.69%
Cardano
$0.393315
$0.393315
0.01%
XRP
$0.401267
$0.401267
0.49%
Dogecoin
$0.091588
$0.091588
0.6%

Spotlight

  • Analyst Says Three DeFi Altcoins Are Flashing Strength Amid Crypto Pullback, Updates Outlook on Bitcoin
    February 1, 2023
  • Top Trader Updates Outlook on Ethereum Rivals Cardano and Fantom, Says Bitcoin Must Hold $23,000 to Avoid Larger Pullback
    February 3, 2023
  • Bloomberg Analyst Warns Rise of Solana, Avalanche Could Be Thwarted by Polygon and Other Ethereum Layer-2s
    February 6, 2023
  • Bitcoin, Solana and Additional Ethereum Rival Have Higher To Go, Says Top Crypto Analyst – Here Are His Targets
    February 2, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl