Ethereum price after a brief visit below $1000, now has regained its levels above. On the other hand, Bitcoin’s price crashed below the crucial support at $20,200 and marked its bottom below $19,000, some moments ago. Currently, the bulls have appeared to have jumped in to prevent the prices to plunge more, but eventually, the bears do not appear to have completed their job yet.
The ETH price after its inception in 2015 had surged extremely high during the 2017-18 bull run and smashed an ATH just above $1500. The second-largest crypto leapt long by more than 15,000% and crashed hard shedding more than 95% of its value to trade below $150 amid the bear market. However, a similar scenario may be fast approaching as the asset is displaying the possibilities of mirroring the 2018 price plunge.
ETH’s price during the previous bear market had slashed from its highs to as low as $148 by nearly 95%. After a couple of years of consolidation, the price again regained huge bullish momentum and smashed new highs which are 3 times higher than the previous. However, the trend appears to have repeated again as Ethereum again slumped down by more than 80% from its highs above $4400.
Interestingly, the prices are yet to reach the bottom as they are required to drop another 15% to mirror the 2018 crash. Therefore, with an additional 15% plunge, the Ethereum (ETH) prices could hover below $300, finding their bottoms at around $248 in the upcoming days. On the other hand, if the upswing also mirrors before, Ethereum could mark its new highs above $11000 in the next 2 to 3 years.