Ethereum’s price plummeted below $1,500 this week, dropping 16.3% over the past seven days. The cryptocurrency is now trading nearly 70% lower than its peak in 2021. This latest dip has prompted questions about how far Ethereum’s value will fall as Peter Schiff, a renowned crypto skeptic, predicts further price drops. In his recent commentary, Schiff highlighted Ethereum’s struggles to hold support levels even during the summer of 2022. He believes ETH could soon return to its previous low point near $1,000. Schiff emphasized that while the current downtrend is concerning on a global scale, he argues that Ethereum’s performance in relation to Bitcoin and gold paints a more dire picture. This analysis adds another layer of uncertainty to the already volatile cryptocurrency market.