Yuga Vice President: If this is the beginning of a bear market, ETH may fall to $200-400

Odaily reports that Yuga Labs' blockchain business vice president 0xQuit posted that seeing someone predict the bottom of ETH at around $1,500 seems reasonable given the current market conditions, but you need to ask yourself an important question - are we at the beginning or the end of the bear market? If this is the end of the bear market, that's great. BTC has hardly suffered a big price hit and its price is still stable at levels that were record highs just a few months ago, which is very bullish for BTC. However, if this is the beginning of the bear market, then be prepared to see ETH's price well below $1,500. Believing that the long-term ultimate bottom of an asset that has fallen 30% this week and over 50% in the past 3 months is only 20% away from here is quite absurd. If the bear market has just begun, the target price for ETH could be $200-400, meaning another 80% drop on top of the current price, a total of 90% drop, which is consistent with past bear markets. 0xQuit finally stated: "Personally, I'm inclined to be bullish at this position, but my position layout can also accept the market continuing to decline. If you cannot accept the worst-case scenario, please consider selling some."