While Bitcoin’s been hitting record highs, Ethereum’s been lagging. But one analyst thinks that’s about to change. They believe Ethereum is mirroring its price action from 2017-2018, suggesting a massive price surge is coming.
A Look Back, A Leap Forward
Mr. Tycoon, a crypto analyst on TradingView, is incredibly bullish on Ethereum. They predict ETH could skyrocket to a whopping $23,000! Their analysis compares Ethereum’s price movements from 2017-2021 to its current cycle. The key similarity? Both cycles saw Ethereum bottom out (in 2019 and 2022, respectively) before a major rally. The analyst points out that Bitcoin hitting a new all-time high historically triggers a significant Ethereum price increase. Since Bitcoin recently reached a new high, Mr. Tycoon sees this as a strong indicator for ETH’s upcoming price surge.
The Numbers Game
This predicted rally would be huge – a 557% increase from the current price! While the current price is around $3,586, this prediction paints a picture of Ethereum potentially exceeding its previous all-time high by a significant margin.
Best Time to Buy?
Another analyst, Crypto Ash, agrees that Ethereum has big potential. They believe a price of $10,000 to $15,000 is likely. Their advice? December 2024 was the ideal time to start buying, as historically Ethereum sees major growth from January to April following a Bitcoin halving. So, if you missed December, there might still be time to get in on the potential action.
