The collapse of $ETH is imminent, with Ethereum and Bitcoin experiencing a complete market crash. Since Bitcoin surged to a new high of $123,000, it has been hovering around $117,000, plummeting by $64,000 in just one month. The reason is the exit of institutions and retail investors rushing to sell, resulting in a drop of 47.97% in one month.

Ethereum has been trading around $3,590 since its peak increase from $1,500 to $3,680, affected by Bitcoin's sharp decline, coupled with institutional exit, resulting in a crash of 58.22% in one month, currently quoted at $1,500, with numerous long positions being liquidated and retail investors lamenting.

This crash, apart from the tightening of cryptocurrency regulation in the United States, has also been exacerbated by the exit of institutions leading to a sell-off among retail investors, ultimately resulting in a complete market halt.

Note: Cryptocurrencies have high volatility and uncertainty. Warren Buffett in the US has angrily denounced cryptocurrencies as a group of shameful thieves promoting what he calls an unreasonable tulip bubble.

Taleb, the father of the black swan theory, has openly criticized Bitcoin for years, calling it a 'cult,' a 'tumor,' and a 'magnet for fools.'

In a recent interview, he reiterated his critical stance on Bitcoin, despite the fact that this cryptocurrency has now soared to a historic high above $120,000.

He stated that Bitcoin is an 'electronic tulip'—referring to the 17th-century Dutch tulip bubble, where speculation drove tulip prices to astonishing levels.

Taleb asserted that Bitcoin 'cannot become a currency,' emphasizing Bitcoin's volatility and the desire of cryptocurrency enthusiasts for Bitcoin to continue rising, while stability is core to being a reliable medium of exchange.

He also questioned how Bitcoin could be widely adopted when many governments do not want Bitcoin to undermine their national currencies.