TechFlow news, Yuga Labs' VP of blockchain operations 0xQuit said on social media that the current market's prediction of a $1,500 bottom for Ethereum may be overly optimistic. 0xQuit analyzed that if we are currently at the end of a bear market, Bitcoin would have hardly endured much pain and stabilized at price levels that were still all-time highs just months ago, which would be very bullish for Bitcoin. However, if this marks the beginning of a bear market, Ethereum’s price could fall well below $1,500. "For an asset that has already dropped 30% this week and over 50% in the past three months, believing the 'permanent bottom' is only 20% lower than today’s price is quite absurd."
He pointed out that the real bear market target might lie between $200 and $400, representing approximately an 80% drop from current levels and a total 90% drawdown, consistent with past bear market performances. 0xQuit advised investors to adjust their positions according to their own risk tolerance: "If your position makes you uneasy, consider selling part of it until you reach a level you can truly withstand. I've experienced being overexposed during bear markets and know the anxiety of waiting desperately for a rebound. Trust me, it's not worth it. Bull markets can run much higher than you imagine, and bear markets can extend much further in the opposite direction."
