Eric Trump’s ETH Endorsement: A Comedy of Errors

Ah, Ethereum. The darling of the crypto world, now floundering like a fish out of water, all thanks to the golden touch of Eric Trump. Two months ago, the younger Trump, with the confidence of a man who’s never had to balance a checkbook, told his 5.7 million followers it was a “great time” to add ETH to their portfolios. Cue the dramatic music. 🎭

Father Knows Best? Not in This Case

As of March 31, Ether was trading at a paltry $1,820, down a staggering 40% since Eric’s tweet. Meanwhile, its market share has plummeted to 8.39%, the lowest since 2020. It seems the Trump family’s Midas touch has turned to lead. Or perhaps it’s just karma for that tariff war. 🤷‍♂️

But wait, there’s more! On Feb. 21, Bybit, a prominent crypto exchange, suffered a $1.5 billion heist. Coincidence? Or just another day in the wild west of cryptocurrency? Meanwhile, President Trump’s escalating tariff war has sent risk sentiment plummeting faster than a lead balloon. 🎈

Michaël van de Poppe, co-founder of MN Consultancy, doubts an Ether rebound anytime soon. He suggests we’ll see an ETH bottom when gold peaks. Gold, by the way, is at a record high of $3,085 an ounce. So, there’s that. 🏆

Trump-Linked Crypto Platform: A Tale of Timing

World Liberty Finance (WLFI), a DeFi firm with Trump ties, transferred 73,783 ETH (~$212.60 million) to Coinbase Prime two days after Eric’s tweet. Routine treasury management, they say. Sure, and I’m the Queen of England. 👑

WLFI has tripled its Ether holdings since the transfer, but even this aggressive accumulation hasn’t sparked a rally. Critics are also raising eyebrows over Donald Trump’s new stablecoin, USD1, citing a conflict of interest. Shocking, I know. 😱

How Low Can Ethereum Go? Let’s Ask the Magic 8-Ball

If technical indicators are to be believed, Ether could drop below $1,500 in April. The ETH/USD pair has entered the breakdown stage of a bear flag pattern, with a potential downside target of $1,490. Cheers to that. 🍸

Double-Bottom: The Silver Lining?

But fear not, dear bulls! A sharp rebound from the $1,800 support level could invalidate the bear flag and trigger a double-bottom pattern, potentially sending ETH to $2,500 by April. A double bottom, for the uninitiated, is like a phoenix rising from the ashes—or at least, that’s what we’re hoping for. 🦅

So, there you have it. Ethereum’s rollercoaster ride, courtesy of the Trump family. Will it rebound? Or will it continue its descent into the abyss? Only time will tell. Until then, keep your wallets close and your skepticism closer. 🎢

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2025-03-31 16:18