Ethereum Mirrors Bitcoin’s 2014/17 Cycle Pattern Towards $50K, Analysis Suggests

An analysis suggested that the Ethereum is mirroring Bitcoin’s 2014/17 cycle pattern towards $50K. Analyst known as TradingShot on TradingView noted that Ethereum has yet to hit a new all-time high (ATH) in contrast to Bitcoin, but this could indicate its huge upside potential.

“One idea that reinforces this notion is today’s analysis, where you see ETH’s current cycle (2022 – 2025) against BTC’s 2014 – 2017. As you can see so far, the two cycles have been very similar, with Ethereum replicating both the bear cycle and most of Bitcoin’s previous bull cycle,” he said.

Source: TradingView/TradingShot

The expert explained his thesis by dividing the price actions of both cryptocurrencies into phases. “For more efficient comparison purposes, we classify the cycle into phases, with the beginning being the bottom formation (green phase) below the 200W MA1 (orange trendline) and within the 0,236 – 0,0 Fib zone. This paves the way for the 1st Rally (Blue Phase) within the 0,5 – 0,236 Fib with the 50W MA1 (blue trendline) established as the Support. What follows is the 2nd Rally (Orange Phase) within the 0,786 – 0,5 Fib zone and consolidation.”

The specialist observed that the October 1W MACD bullish cross (October 2016 for BTC, October 2024 for ETH) is signaling the transition into the final stage of the bull cycle, with a parabolic rally to a new ATH for the cryptocurrency.

“For Bitcoin which peaked near the 2,382 Fibonacci extension. If this seems unrealistic for Ethereum’s price today (2,382 Fib is just over 50k!!) in terms of market cap (and rightly so), just consider the impact that ETF inflows have on the market. The jury is still out, but even so, ETH has huge upside potential going forward and we’re confident that even a +100% rally from the current price would be welcomed by the majority of the market.”

At the time of publication, the price of ETH was quoted at US$ ,00 with an increase of 0% in the last 24 hours.