Compare the previous cycle with the current cycle of Ethereum

In this article we will look at the price movement of Ethereum (ETH) during the bull cycle 2015-2018 and compare it to the current cycle.

While both upward moves have a similar duration, from 2020 to date the move is much smaller than the previous move.

First bull cycle

The ETH’s first bullish move began in October 2015, at which point the token was trading at just $ 0.42.

The bullish move lasted 812 days and resulted in an all-time high of $ 1,420, which was hit in January 2018. During this time, the ETH recovered very strongly by 335.191%.

Then a correction period occurred that lasted 329 days. It is about 2.5 times shorter than the upward movement. It peaked with a low of $ 81.19, which was hit in December 2018. These two moves completed the first market cycle for Ethereum.

Since then, ETH has been on an upward trend.

Weekly ETH / USD chart, period 2015-2018 | Source: TradingView

The current movement of ETH

After the low in December 2018, ETH started an 882-day upward trend. It resulted in an all-time high of $ 4,380, which was hit in April 2020. The period is roughly the same as the previous bull run in 2015-2018.

Compared to 2015-2018, however, the growth rate was significantly lower. ETH is up 5.314%, 60 times less than the increase in 2015-2018.

If the same 94% drop follows, ETH would drop all the way down to $ 260. If the length ratio between upward and downward movement remains constant, the low will be reached in April 2022.

However, there is no certainty that ETH’s uptrend is over and that in this case the price would follow a similar path as it did before. End.

Weekly ETH / USD chart, current period | Source: TradingView

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According to Beincrypto

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