As a seasoned researcher who has weathered numerous market cycles and witnessed the rise and fall of countless digital assets, I find myself intrigued by the potential resurgence of Ethereum (ETH) next year. History certainly seems to be nudging us towards a bullish outlook for ETH in 2022, following the pattern established after Bitcoin halving events.
This year, Ethereum (ETH) has lagged behind other significant cryptocurrencies, struggling to keep pace. But based on past trends, it could potentially outperform in 2022.
The altcoin tends to record significant gains during the year that comes right after a quadrennial Bitcoin halving.
In Q1 of 2021, a similar scenario unfolded. Following a poor performance compared to Bitcoin towards the end of 2020, Ethereum experienced a significant surge exceeding 300% over a period of only three months. This rapid increase left Bitcoin trailing behind.
The altcoin also soared by more than 900% in early 2017, skyrocketing to $80.
In summary, the typical return for the first quarter (Q1) of Ether has been approximately 93%, making it far and away the most profitable quarter for this leading altcoin.
However, it should be noted that Ethereum was benefiting from the growing excitement surrounding its decentralized finance ecosystem, as well as the non-fungible token (NFT) sector.
In early 2017, the altcoin started surging higher due to the initial coin offering (ICO) frenzy.
As a crypto investor, I must admit that I’m not seeing any clear, immediate factors that could drive up the price of Ethereum (ETH) substantially at this moment.
Hence, it is not clear whether the altcoin will be able to follow the same bullish pattern.
2021 has been disappointing so far for Ethereum (ETH) supporters, as the value of ETH compared to Bitcoin (BTC) has dropped by up to 35%. As reported by U.Today, crypto millionaire James Fickel suffered significant losses when he wagered on Ether outperforming the leading cryptocurrency, ultimately losing tens of millions of dollars.
It remains to be seen whether Ether will be able to turn the tide next year.
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2024-12-26 18:27