According to Golden Finance, Bloomberg Intelligence commodity strategist Mike McGlone posted on X platform to analyze whether Ethereum may follow the example of falling to the $1,000 level during 2020. He believes that the market should now pay attention to the ETH price trend, because there is a clear link between ETH and the prices of other risky assets on the market. If stocks in the S&P 500 continue to be weak, ETH may fall further. Meanwhile, Mike McGlone believes that returning to the $2,000 level ETH may point the way for risky assets, however, if Bitcoin fails to resume stable price growth, it may exacerbate the altcoins to fall into losses, especially the top altcoins will continue to weaken, and even trigger ETH to fall back to the $1,000 price level later this year.