The bearish sentiment emerged as Ether whales scrambled to avoid being liquidated amid a 22% price decline over the last seven days.
Yuga Labs’ vice president of blockchain warned that Ether could drop as low as $200 in a prolonged bear market, a 90% decline from its current price.
In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts who suggested $1,500 as the possible bottom for Ether (ETH). Instead, Quit argued that a true bear market could see ETH fall significantly lower, similar to previous market cycles.
The executive said he’s in a “comfortable” position if things go south. Quit told followers to consider selling their stash if they’re uncomfortable with the asset going down.
