Fractal games can boost Ethereum by 253%

With a market cap of $ 550 billion at press time, Ethereum’s 2021 growth is impressive with 523% year-over-year growth. While this may seem insignificant compared to some other assets in 2021, Ethereum has a sense of stability. Unlike some coin memes, ETH doesn’t crash while you’re sleeping.

However, in less than 7 weeks until the end of 2021, ETH could see a whopping 2,000% YTD return, especially if a certain trend from 2017 repeats itself over the next few weeks.

Fractal game?

Source: TradingView

2021 is widely viewed as the second bull run of 2017. New all-time highs were noted over the course of the year and there are some clear similarities between the two upswings. For starters, both hit initial ATH highs of $ 420 and $ 4,384, respectively, in Q2 2017 and Q2 2021.

If you look at the weekly chart above, you can see a fractal pattern between 2017 and 2021. Currently, the 2021 pattern is on the cusp of a large 253% breakout. During the 2017 rally, the bull run brought the ETH’s value to $ 1,420. If history rhymes, Ethereum will rise to $ 15,750 by the 3rd week of December 2021.

In such a scenario, Ethereum’s market capitalization would exceed $ 1.5 trillion and the crypto euphoria would take full effect.

Not too imaginative?

Source: Glassnode

The 253% return for Ethereum would make any investor dream. The Bull Run 2017 and 2021 is different, however.

And yet ETH’s unrealized net profit / loss is still eerily similar. In 2017, the NUPL value on that date is around 0.71, while the ETH NUPL value at press time is 0.69.

However, in 2017 the market is at the center of a time of greed and euphoria. In contrast, investors don’t have to achieve the same level of returns in 2021.

Source: Glassnode

It is also important to understand that the current illiquid Ethereum supply has increased significantly. DeFi, ETH 2.0, smart contracts, all of these functions have pulled a lot of ETH out of circulation. All of them will add long-term value to ETH

Of course, it is also important to understand that an illiquid offer that does not move in the market does not affect the price direction either.

To be fair, it’s easier to hope for the best, but exaggerated expectations can be a bit of a stretch. The crypto industry remains as unpredictable as ever. So there are still many options.

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Annie

According to Ambcrypto

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