At the moment, Ethereum (ETH) is presently trading at $352.
Analysts Give Answers As Ethereum (ETH) Nears Historical Moment
Michael van de Poppe of Amsterdam stock exchange corroborated that the present market structure is resembling only the start and build-up of a potential bull run similar to the sentiment and momentum of late 2016.
Warwick went on further to state that having lived through two previous crypto cycles, he thinks that the market’s recent situation draws parallels with that of 2016, which was the “calm before the 2017 storm,” this he said:
“I’ve been trying to work out if we were in 2016 or 2017 for the last 6 months. This last week firmly put me in the 2016 camp. It’s shocking how similar human reactions are to the same stimuli. After the dump in July 2016, I could not convince anyone to buy BTC @ $500…”
However, other commentators maintained that despite the slow price activity recorded in the crypto market, a parabolic growth trend will be the imminent outcome.
Chris Burniske, a partner at Placeholder Capital, recently commented that he thinks that Ethereum will hit a market capitalization of $1 trillion in this market cycle. Other commentators spoke similarly on Bitcoin, stating that the chances of BTC having another exponential growth trend in this market cycle are likely.
Ethereum however is nearing a historical moment because if history rhymes, ETH may be able to climb significantly higher in the months ahead despite the weakness it’s presently depicting as a result of the drawdown. In an analysis of the cryptocurrency’s previous uptrends, Messari indicated that it could see plenty of more pullbacks as it climbs higher.
