A promoter of BMNR called 'SweatyKodi' on Twitter posted an interesting tweet about the consolidation that ETH is forming. Like Kodi says ETH has taken almost 4 years to catch its breath after one of crypto history's most wild runs. To remind you it went from $90 in 2018 to $4,866 in 2021, that is a 50x move. The second-largest crypto went from a niche experiment to literally global infrastructure. Now it has been range-bound between about $1,400 and $4,000 creating what traders call a 'base.' So as the image below says: the bigger the base, the bigger the breakout.
Kodi also says in his tweet that Tom Lee from Fundstrat believes ETH's next pump will be enormous and he predicts a move to $12k-$22k or even $62k if Ethereum becomes the infrastructure of global payments. These may be crazy predictions but there is logic behind it:
- Stablecoin inflows are at record levels.
- L2's are booming.
- More real-world assets are being tokenized on Ethereum every week.
What this long consolidation really means is maturity, ETH is no longer chasing quick hype. Ethereum is gradually becoming the platform that the world builds on: payments, finance and data. If this base finally breaks to the upside Ethereum will be proving that it is ready for the next phase of the internet economy.
This 'long pause' could set up ETH's biggest breakout yet.
byu/MasterpieceLoud4931 inethtrader
Posted by MasterpieceLoud4931