ETH News: Can ETH Hit $1000? Peter Schiff’s Ethereum Price Prediction Shocks Investors

The world’s second-largest cryptocurrency, Ethereum, is facing extreme pressure. Prominent economist and outspoken crypto critic Peter Schiff predicts an extreme price fall. After a 20% intraday collapse, Peter Schiff expects Ethereum to soon fall below $1,000. If it does, it will be the first time in two years.

Schiff’s Ethereum price prediction reflects serious alarm for ETH investors, particularly as the general crypto market crash deepens. Schiff, frequently referred to as a “gold bug,” has doubled down on his bearish sentiment.

Ethereum Price Prediction: A Closer Look at Schiff’s Warning

Ethereum is currently trading at $1583. Ethereum’s technical signals reflect the same bearish sentiment. RSI is currently close to oversold levels at 36.31, and the MACD is in the direction of further falling momentum. The recent flash crash to $1,400 only intensified concerns. 

Chart 1- Ethereum/USD live price, published on TradingView, April 8, 2025. 

Peter Schiff highlighted that Ethereum’s recent breakdown below $1,500 is a significant red flag. According to Schiff, the ETH price forecast is now leaning heavily toward a drop to the $1,000 psychological support zone. He indicated that macroeconomic uncertainty, combined with volatility, is setting up conditions favorable to a prolonged crypto market crash. Schiff’s ETH price forecast warns that if the bearish trend continues, ETH could retest the historic lows witnessed before.

Schiff’s Analysis: ETH in Comparison to Bitcoin and Gold

On X (formerly Twitter), Peter Schiff warned that Ethereum’s drop below $1,500, alongside a sharp 20% crash, could drive ETH down to $1,000 soon. His statement triggered heated debates among crypto investors. Comparing Ethereum’s current collapse with its performance during the 2022 bear market, Schiff pointed out that ETH held the $1,000 mark back then but might not hold this time given today’s worsened fundamentals.

Ether crashed below $1,500 for the first time in over two years. So far the intraday low was just above $1,400, a 20% drop overnight. I don't think it will be long before it breaks below $1,000.

— Peter Schiff (@PeterSchiff) April 7, 2025

Schiff also pointed out that Ethereum’s performance against Bitcoin and gold has weakened considerably. The ETH/BTC ratio remains in decline, indicating Bitcoin dominance is increasing as altcoins become more at risk. Schiff believes that without strong institutional inflows, Ethereum will struggle to maintain even the $1,200-$1,300 level.

Development and Future Perspectives

Even in the negative sentiment, some bulls believe Ethereum still possesses strong fundamentals in the long term. This trust is there, especially with ongoing network updates such as the Ethereum 2.0 roadmap. Short-term risks cannot be overlooked. If the bearish momentum persists and the overall crypto market crash deepens, Schiff’s ETH price forecast may well play out, dragging ETH closer to the dreaded $1,000 mark.

On the other side, other analysts suggest that extreme bearish sentiment often marks the bottom of market cycles. With Ethereum’s RSI approaching oversold territory, a technical bounce could occur before further declines. Traders are closely watching if ETH can stabilize above $1,400 or if deeper capitulation awaits.

Final Thoughts: Is Ethereum Heading for a Historic Breakdown?

In these turbulent times, Peter Schiff’s bearish Ethereum price prediction adds significant weight to the growing concerns across the crypto community. As key technical indicators continue to give warning signals and bearish sentiment prevails, the question of whether ETH can hit $1000 looms larger than ever before. Whether Ethereum can regain bullish momentum or descend further will largely rely on overarching market conditions and investor sentiment in the coming crucial weeks.