Here's Why Peter Brandt Won't Use 'Enemy' Cash to Buy Ethereum

　　The once-glorious digital currencies are no longer deemed such, at least in the medium term, given the current nosedive in prices and valuation.

　　With the overall crypto market capitalization falling to $858.7 billion at the time of writing, the industry is undergoing a significant downturn, with Ether, the native token of the Ethereum blockchain, taking the largest damage.

　　Ethereum's price has dropped from its all-time high (ATH) of $4,891.70 in November 2021 to $1,065.35, after falling to a multi-year low of $896.11 over the weekend. Given this prognosis, Peter Brandt, one of the most prominent commentators in the digital currency industry, is not optimistic about the future of Ethereum.

　　According to the graphic below, Brandt believes the price of Ethereum could fall as low as $300. While investors and Ethereum bulls may view this as a bearish call, analysts stated that “targets are not holy — sometimes they are hit, sometimes they are not, sometimes they are exceeded.”

　　Despite his prediction and a dash of uncertainty, Brandt is not urging anyone to pile up on Ethereum at the present, stating that he would not even use his “Enemy's Money” to buy Ethereum at this time.

　　The digital currency ecosystem is no stranger to expert price projections, the majority of which do not always hit the mark. The industry is still in a nuanced discovery period, in which both micro and macroeconomic events can rapidly affect the development of events, making it impossible for a price call to follow the text of the law.

　　The Winklevoss Twins' prediction that Bitcoin will reach $500,000 by 2030 is still being followed to see if it will come true, as is PlanB's $100,000 prediction.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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