$ETH At the current price of $4,000, there is still a lot of room for a bullish trend in the future.
Similar to Bitcoin, the price of Ethereum has historically fluctuated in cycles: after an aggressive price discovery phase, it is usually followed by a sharp correction and long-term consolidation.
But for bulls, a new price discovery phase may be imminent. Bitcoin entered a new round of price discovery last month, and historical data shows that Bitcoin almost always enters this phase within 8 months after the halving.
Ethereum tends to lag Bitcoin by up to two months. This means that Ethereum may usher in a strong breakout and set a new all-time high in January 2025.
On-chain data also supports the argument that it has not peaked yet - Ethereum's "realized market value" (the total market value calculated by the average price of each coin when it last moved) has just set a new record of nearly $248 billion.
According to Glassnode data, Ethereum's market value to realized market value ratio is currently about 1.5, far lower than the level at previous market peaks. This shows that Ethereum prices still have a lot of room to rise, and the current market cycle may just be the beginning.
The current cottage market is weak and exhausted without financial support. Who can get the capital to enter the market first? Which sector is worth ambush next? You can discuss it in the discussion area, or ask me.