What Happens To The Ethereum Price If It Replicates Bitcoin Supercycle?
The Bitcoin Effect on Ethereum
Over the years, Ethereum’s price has danced a tango with Bitcoin. When Bitcoin goes up, Ethereum parties right along with it, and when Bitcoin crashes, ETH seems to trip over its own feet. But guess what? In this latest cycle, it looks like Ethereum has been trying to find its own groove while Bitcoin is hitting new ceiling tiles. Will Ethereum catch up, or will it be left watching from the sidelines?
Tuning into Tom Lee
Enter Fundstrat’s own crystal ball gazer, Tom Lee, who has some spicy predictions simmering under the surface. He’s been eyeing the Ethereum market and thinks it might be prepping to mimic the famed Bitcoin supercycle. I mean, if Bitcoin can break all sorts of records, why can’t Ethereum? Right?
Back in Time: Tom’s Recommendations
Tom Lee has been quite the oracle in the crypto kingdom. A little blast from the past: back in 2017, when Fundstrat first whispered sweet nothings about Bitcoin into the ears of their investors, they recommended dipping just a wee bit into the Bitcoin pool—think 1% to 2% of portfolios. At the time, Bitcoin’s price looked high, but oh boy, did it soar since then! Investors who held their Bitcoin have seen a staggeringly impressive 100x return on their investments. Who’s kicking themselves now, huh?
The Future is Bright for Ethereum?
Fast forward to today, and guess what? Tom believes we might be on the cusp of another supercycle, and this time, Ethereum is in the spotlight! Why? Because he feels that crypto prices are setting up to skyrocket in the future. And naturally, more doubts typically lead to wild price swings, giving Ethereum a chance to ride the wave higher.
But Hold Your Horses!
Before you start going all-in on ETH, hold your horses! The journey to the supercycle isn’t exactly a walk in the park; it’s more like a rollercoaster ride without seatbelts! For Bitcoin, it took several dramatic drop-offs—like, we’re talking over 50% dips and even some 75% nose-dives—before it finally went on that glorious 100x rally. So, if you’re in it for the long haul, patience is key, my friend.
What Could Ethereum’s Rally Look Like?
Now, if we imagine Ethereum pulling off a similar feat to Bitcoin, we could be looking at its price skyrocketing all the way up to around $300,000! Yes, you heard that right! But don’t start counting your Ethereum chickens before they hatch; this might play out sometime in 2033. So, buckle up and keep your fingers crossed!