Bloomberg analyst: If the U.S. stock market continues to weaken and BTC cannot resume its rise, ETH may return to $1,000 later this year

PANews reported on March 30 that Bloomberg commodity strategist Mike McGlone published an article analyzing whether Ethereum might follow the trend of falling to the $1,000 level during 2020. He believes that there is a clear connection between the prices of ETH and other risky assets in the market. If stocks in the S&P 500 index continue to weaken, ETH may fall further. Mike McGlone believes that ETH returning to the $2,000 level may point the way for risky assets. However, if Bitcoin cannot resume stable price growth, it may exacerbate the losses of altcoins, especially the top altcoins will continue to weaken, and ETH may even fall back to the $1,000 price level later this year.