Ethereum, the second-biggest cryptocurrency, has not met investors’ expectations this year, especially when compared to Bitcoin. Over the past six months, Ethereum’s price has dropped around 35%. This downward trend has continued even after spot Ether exchange-traded funds (ETFs) started in the U.S. in July. In the last 30 days, Ethereum’s price has lost 23% and is still in a bearish trend. This drop surprised many who thought its price would go up after the ETFs were launched.
See Also: Ethereum Exchange Traded Funds Witnesses Massive Inflows
Ethereum’s Price Analysis
Despite this, some experts think a turnaround could happen. Cryptocurrency analysts noticed that Ethereum’s price on the monthly view look very similar to its pattern in 2016. If this pattern continues, analysts suggests Ethereum’s price could finish September on a positive note, then possibly drop later in the year, with a big increase expected in 2025.
An analyst shared his thoughts on X (formerly Twitter), comparing Ethereum’s current situation to what happened in 2016. Back then, Ethereum was priced just under $11 in August 2016, and by 2017, it had jumped to $370. By early 2018, its price had risen above $1,360 before the market turned bearish. If Ethereum follows a similar path and rises by 12,200%, its price could go beyond $30,000 in a strong bull run. This would also cause its market value to grow quickly.
However, it’s important to remember that past results don’t predict what will happen next. The cryptocurrency market is very unpredictable, and unexpected events could easily change any guesses. In other news, Jamie Coutts, Chief Crypto Analyst at Real Vision, gave a more cautious view on turning real-world assets into tokens (RWA). Some on Wall Street expect that $10 to $30 trillion worth of traditional assets could be turned into tokens over the next decade, but Coutts thinks these numbers are too high. He believes that if the current two-year growth rate of 121% continues, a more realistic guess would be around $1.3 trillion in tokenized assets by 2030.
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