Crypto: Ethereum follows Bitcoin’s third cycle… Towards an ETH at $6,000?
Financial markets often repeat patterns. Analysts study old events to guess what may happen. Bitcoin's past often guides understanding of other cryptos. Now, Ethereum seems to copy Bitcoin's path.
It looks like Bitcoin's third cycle. This idea makes people wonder about ETH's future. History may be about to repeat. ETH could soon reach an important point.
Golem Network is doing the opposite. They sent 4,850 ETH ($13.26 million) to exchanges. It seems they want to sell some of their ETH. This big sale can affect the market. It adds selling pressure. This may slow down ETH's price increase.
These different actions show the market's split. Some buyers are hopeful. They bet on a coming price rise. Other sellers are careful. They want to make a profit now. Or they want to prepare for economic problems.
Like Bitcoin, Ethereum's chart patterns intrigue experts. Bitcoin had a long calm period. Its price formed a triangle shape. Then, its price jumped up a lot.
Ethereum now shows a similar pattern. The same triangle shape appears on its charts. This hints at a possible price breakout. Some think ETH could hit $6,000 soon. This depends on the market copying past cycles. This approach has risks.
History never repeats exactly. Ethereum could drop below a key price. Or it might fail to break above a certain high. Then, the price trend could change quickly. Caution is still needed. Crypto markets are known for big swings. They can surprise even the best experts.
Investors face a tough choice. Some signs point to a price increase. Big investors are buying ETH. But other things cause worry. Some are selling ETH. The market is sensitive to rules and the economy.
If Ethereum follows Bitcoin, breaking $6,000 could start a new price surge. But, if ETH stays flat or drops, it shows the limits of comparing the past to the present.