Peter Schiff: The value of ether will fall to $1500

"I think there will be a drop to $1500. It looks like those who bought on rumors about ETH-ETF couldn't wait for the fact that trading started."

The entrepreneur pointed out that bitcoin failed to hold the support level of $60,000 and predicted a long decline in the value of the first cryptocurrency.

There is not a single positive factor in the market that can keep the leading cryptocurrencies from falling quotes, and there are simply no reasons for optimism yet. Peter Schiff believes that the fall in the exchange rate of ether provoked, among other things, unfulfilled expectations about the beginning of trading ETH-ETF in early July.

Earlier, Peter Schiff suggested that bitcoin could be worth millions of dollars if public US companies invest their capital in it.