Bloomberg analyst: If the US stock market continues to weaken, BTC cannot recover its upward trend, and ETH may return to $1000 later this year

Bloomberg commodity strategist Mike McGlone analyzed in an article whether Ethereum may follow the example of falling to $1000 during 2020. He believes that there is a clear link between ETH and the prices of other risky assets in the market, and if stocks in the S&P 500 index continue to weaken, ETH may further decline. Mike McGlone believes that returning to the $2000 level of ETH may point the way for risky assets, but if Bitcoin fails to recover stable price growth, it may exacerbate the losses of altcoins, especially the top altcoins, which will continue to weaken. ETH may even fall back to the $1000 price level later this year.