The current market trend bears a striking resemblance to that of 2020, both starting their upward momentum in October and soaring to double the price by November 25.
Looking back at the previous round of market activity, the price of Bitcoin rose from 10,000 to 20,000;
whereas in this round, it has risen from 50,000 to 100,000.
As for Ethereum (ETH), its strong performance is something everyone can witness, and it's obvious that significant capital has been entering the market.
In the face of Bitcoin's sharp decline, Ethereum has demonstrated a sideways trend, showcasing strong resilience against downturns. Once the Bitcoin market begins to warm up, Ethereum will undoubtedly take advantage of this momentum and initiate a new round of upward movement.
Therefore, if Ethereum experiences a pullback in the future, it would actually be a good opportunity for investors to get involved.
Based on the current market rhythm, it is inferred that once the cryptocurrency market as a whole consolidates until early December, Ethereum will likely resume its upward mode, potentially leading to a stronger bullish trend. Investors should keep a close watch on this to seize the investment opportunities it holds.
