The value of the second most popular cryptocurrency fell by 12%

The head of Euro Pacific Capital, Peter Schiff, believes that the cost of Ethereum may fall significantly — to the level of $1,500. The businessman pointed out that earlier the price of ETH was below $2,900. This is 30% below the March maximum.

“I think a crash down to $1,500 is coming. This bear market is a long way from oveк,” the expert said.

After the drawdown at the end of last week, the market began to recover. The Ethereum rate rose above $3000. However, the cryptocurrency is still in the red zone.

Earlier, Schiff noted that the main digital asset also showed a significant drop in value. The entrepreneur predicted “a long way down” for Bitcoin.

The expectations of crypto market participants regarding the start-up of Ethereum-ETF trading at the beginning of this month did not materialize. The SEC has required potential issuers to make further changes to their filings.

The companies corrected the documents and again sent them to the regulator. However, according to market sources, this is not the last time potential issuers will have to make changes to applications.

Recall that SEC Chairman Gary Gensler recently expressed his opinion on when it is planned to register exchange-traded products based on Ethereum. According to the official, this will happen “sometime towards the end of this summer.”

“Individual issuers still are working through the registration process that’s working smoothly,” said Gensler.

However, community members and experts have doubts that everything is really going smoothly in the context of work on approving the launch of Ethereum-ETF.

What do you think about this?