- Analyst says five years of nothing for Ethereum and altcoins will end soon.
- This means the altseason peak phase is nearing.
- How far can the price of ETH pump this year?
Expectations for altseason to play out this year remain strong despite the many calls for the bear market to have begun already. In particular, the fact that the price of the pioneer altcoin, Ethereum (ETH), has held on to prices above the $2,000 price range is a very bullish sign for a promised altseason peak phase. One analyst says five years of nothing for Etheruem and altcoins will finally end soon.
Analyst Says Five Years of Nothing for Ethereum and Altcoin to End Soon
Last year, sentiments were high for the price of ETH to enter price discovery and set new ATH prices above the $5,000 price range, a target that would also trigger the altseason peak phase allowing several altcoins to set new ATH prices that year. Instead, the long-awaited altseason phase was delayed over and over again, leading to only a handful of altcoins to set new ATH prices.
Despite that feat, the new ATH prices were not very impressive compared to the bullish price surges set by Bitcoin (BTC). While the price of ETH did set a new ATH in the $4,900 price range, this was barely above the $4,800 previous ATH it had set in the last bull cycle. This also proved weak as the price of ETH failed to hit $5,000, thus delaying altseason again as well, meaning altcoins prices fell alongside ETH in the following months.
How High Can the Price of ETH Pump This Year?
Still, hope for altseason and new altcoin ATH prices remain strong as the price of ETH holds on to the $2,000 price range with high conviction. Analysts and experts stated that if ETH fell below $2,000, bearish sentiments would take over. Instead, the price of ETH has held steadily, fueling bullish momentum ahead for all altcoin assets. This would be a winning moment as altcoins have been seeing sideways movement for about 5 years now.
As we can see from the post above, this reputed crypto expert is embarrassed by the sad near zero bull market for altcoins over the last 5 years. Having said that, he says the embarrassment isn’t from the lack of bullish activity, but rather from the possibility of traders missing out on the most bullish opportunity for an altcoin pump to follow after this highly promising accumulation phase.
He says that this macro opportunity has been clear for many seasoned analysts who have been positioning for a bullish pump between all these years. He concludes saying that despite the bearish barrages on crypto bulls, the macro views remain strong, highlighting a promising future pump for altcoins, a pump that is nearing and will reward those who held throughout all the noise.
