Peter Brandt expects ETH to fall to $1,268

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Well-known cryptocurrency trader and analyst, financial market veteran Peter Brandt believes that Ether is in a descending triangle and the coin’s rate could fall to $1,268.

In a message on the social network Twitter, Peter Brandt said that within a month the rate could drop to $1,268.

“Possible descending triangle. If this trend is not reversed, the decline will continue,” the analyst wrote.

An analyst under the pseudonym Crypto Tony shares a similar point of view. However, in his opinion, the decline will continue to $1,600 or $1,450.

But the cryptocurrency community believes that ether will grow in the near future. On the CoinMarketCap service, 15,466 people voted for an approximate ETH price of $3,131 by June 30. 

Of course, growth immediately by 75% by the end of the monthdoesn't look too likely. However, according to enthusiasts, the Ethereum rate should be pushed up by the successful transition of the Ropsten Ethereum test network to the Proof-of-Stake consensus algorithm.

Previously, Peter Brandt said that he is not a supporter of long-term investments in cryptocurrencies, since the same Bitcoin has repeatedly fallen by 80% from its peak values.