Ethereum (ETH) Good News from CryptoQuant! "The Second Bull Market Has Started!"
There still seems to be hope for Ethereum, which has failed to perform as expected in the face of Bitcoin's tremendous performance.
While analysts state that the Ethereum price will recover along with altcoins in the bull rally, CryptoQuant analyst said that the second bull market has started in Ethereum.
Noting that Ethereum has consistently experienced two rounds of price increases, namely two bull phases, in previous bull rallies, the analyst claimed that the second bull market for ETH has begun in the current bull market cycle.
The analyst finally noted that the second bull market cycle in Ethereum always significantly exceeds the local highs during the first bull market cycle.
"Ethereum's secondary bull run has begun:
In past crypto market bull markets, Ethereum has experienced two major bull runs.
Ethereum's second bull cycle always significantly exceeded the price established in the first bull cycle."
Looking at short-term ETH predictions, Lin Chen from Deribit noted that options traders predict a 29.1% probability that Ethereum will close the year above $4,000.
Popular analyst Ali Martinez also stated that every market cycle Ethereum experiences a phase where it outperforms Bitcoin, and that this phase has not yet occurred in the current cycle. According to the analyst, the price of ETH could rise to the $ 10,000 level in this phase.
