Ethereum Price In Most Bearish Quarter Ever, What Next?



Ethereum prices have underperformed in 2024. Even at its peak, it stagnated and failed to reach $4,000, unlike Bitcoin. Since the third quarter is traditionally the weakest for Ethereum, the second-largest cryptocurrency by market value, its price may still be far from record highs.


How Ethereum Performs Third Quarterly


Ethereum prices have historically been negative in July, August, and September. Coinglass statistics shows the altcoin's monthly returns since its 2016 inception.


Over the years, the third quarter has seen more red months than green months, despite the average return of most other months being high.


In nine years, July has only finished in the green three times and had six negative months. August was similar, with six negative months and three green months. September has been in the red 5 times in eight years, compared to 3 times in green. The average monthly returns for these months are +5.51%, +6.98%, and -7.67%. Median returns were negative across the board.


These results demonstrate that the third quarter has always been bearish. Ethereum has performed best in the first quarter, followed by the second. The Ethereum price becomes more negative as the year ends.


If past data holds and the Ethereum price follows this path, the cryptocurrency may not recover until the end of the year. According to the statistics, September might see additional losses.


Investors may find comfort in the fourth quarter when prices rise again. The major benefits may not come until the first quarter of 2025, when Ethereum has historically performed best.




If this trend maintains, Ethereum might hit a record high by the second quarter of 2025. Above $5,000 would indicate a 2x growth.



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