Ethereum, is there still hope?
The current pullback in BTC and ETH might be the last chance to get on board, with ETH potentially rising to $6000 after March?
New updates on Ethereum's upgrade: the meeting last week concluded, and Ethereum developers hinted that the fifth testnet will be launched in early January, possibly the last test before the Prague upgrade.
The Prague upgrade is expected to occur in March, and the market is anticipated to start heating up and rising in January. The Trump family bought ETH at the bottom when the WLFI project plummeted over the weekend.
Currently, the price has pulled back to the same level as a month ago, which may indicate a brewing re-entry opportunity, especially if the cryptocurrency bull market is expected to continue until 2025.
It is worth noting that Ethereum has not shown the higher beta characteristics seen in the last bull market during this rebound; however, it remains a favored asset among investors.
The recent continuous inflow of ETF funds is the best proof of this. Such strong demand not only highlights Ethereum's important position but also indicates that even if it underperforms slightly in this cycle, it is still receiving considerable attention.
Ethereum's strong performance relative to Bitcoin may continue into January 2025. Currently, the ETH/BTC ratio is 0.0356, and this ratio is expected to break 0.04.
The last time it reached 0.04 was on December 8, when the price of Ethereum broke through the psychological barrier of $4000 to reach $4018.
In January 2025, Ethereum will see more capital inflow, while Bitcoin may experience capital outflow and enter a consolidation phase, which could trigger a surge in tokens within the Ethereum ecosystem.
From the perspective of quarterly returns, the first and second quarters are the two best-performing quarters of the year for Ethereum. Combined with Ethereum's historical performance, it typically starts to gain momentum in the second year after Bitcoin's halving.
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