**Ether's Rocky Road: A Contrarian Bet for 2024?**

Ether (ETH) has been struggling to gain traction in 2024, hitting a 42-month low against Bitcoin (BTC) on September 16. Matt Hougan, CIO at Bitwise Asset Management, suggests Ethereum might be a contrarian bet heading into 2025. He believes none of Ethereum's challenges are existential and anticipates market reevaluation closer to the November elections and potential regulatory clarity.

However, Ether's short-term outlook remains bleak. Pseudonymous trader GGG predicts further downside, while Crypto Bullet sees a potential triple bottom formation leading to a rally in late 2024. Key support around $2,200 is crucial, with a drop below triggering significant leveraged short liquidations.

As Bitcoin eyes a potential rally to $92,000 in Q4, Ether's fortunes could change. But for now, it's a waiting game.