All crypto space depends on FED decision to pause rate hike and most importantly - decision to pivot.
Most likely FED will be forced to pivot at the end of 2023.
Regional banks already start falling one by one like domino: SVB, SBNY, FRC. Those 3 banks alone surpassed 2008 GFC adjusted to inflation. And MSM suspiciously quiet about that, despite the fact that half of the banks already contagion with virus. Bank run will continue. Crypto only emerged as aftershock of 2008 crisis but never went thru one. I’m expecting double bottom for ETH 900-1200 in near future 6-12 month. And from here there is 2 scenarios for 2024.
First scenario is modest recession. If this is true, we will see upside for ETH with potential to reach its peak in 2025 with projected price between 2.68 Fibonacci 11300 and 3.68 Fib as top price 15300.
The second scenario is global depression, in this case very hard to attempt predict the price but 90%+ correction will be imminent and the price can initially drop to test 300-400$ range.
Most likely FED will be forced to pivot at the end of 2023.
Regional banks already start falling one by one like domino: SVB, SBNY, FRC. Those 3 banks alone surpassed 2008 GFC adjusted to inflation. And MSM suspiciously quiet about that, despite the fact that half of the banks already contagion with virus. Bank run will continue. Crypto only emerged as aftershock of 2008 crisis but never went thru one. I’m expecting double bottom for ETH 900-1200 in near future 6-12 month. And from here there is 2 scenarios for 2024.
First scenario is modest recession. If this is true, we will see upside for ETH with potential to reach its peak in 2025 with projected price between 2.68 Fibonacci 11300 and 3.68 Fib as top price 15300.
The second scenario is global depression, in this case very hard to attempt predict the price but 90%+ correction will be imminent and the price can initially drop to test 300-400$ range.