Ethereum’s price has been pretty steady lately, hovering around $3,420 after hitting a four-month high. While it’s the second biggest crypto, it’s been lagging behind Bitcoin in this bull run. But one analyst, Ben Lilly, thinks that’s about to change dramatically.
A Bold Prediction
Lilly predicts Ethereum will hit a new all-time high (ATH) between December 21, 2024, and January 7, 2025. He bases this on what happened in 2021.
Looking Back to 2021
In 2021, when Bitcoin hit its ATH, Ethereum was about 60% below its 2018 peak. Then, within five weeks, Ethereum exploded, gaining roughly 640% to reach its then-ATH of $4,878.
Lilly sees a similar situation now. Bitcoin’s price is soaring, and Ethereum, which was recently down about 50% from its 2021 peak, has already started to recover, showing over 20% growth in just two weeks.
He believes this mirrors the 2021 scenario, suggesting a massive Ethereum price jump is imminent, potentially reaching $10,000 with a 300% surge from its recent low.
The Current Situation
Lilly’s prediction emphasizes how much Ethereum’s price depends on Bitcoin’s momentum. In 2021, an “altcoin season” saw altcoins, especially Ethereum, outperform Bitcoin. That hasn’t happened yet this cycle; all the attention is on Bitcoin.
Right now, Bitcoin’s on a roll, so we might have to wait a bit for the focus to shift to Ethereum. At the time of writing, ETH is trading at $3,107, down slightly over the past week.
