I have been talking alot about bitcoin recently, and has neglected the number 2 in the crypto world: Ethereum.
Over the bear market in the last 3 years, Ethereum has been battered badly. But in bull runs, it tends to outperform bitcoin rather easily. This can be seen as well in 2020, where Ethereum rose by an astounding 573% as opposed to Bitcoin’s dismal 404%.
As great as ETH’s performance has been in 2020, it was still some ways off its previous all time high.
Until January 2021.
2021 Ethereum Bull Run
We knew the crypto market was shaking off its long bear hibernation and preparing to emerge like a phoenix out of dust. Bitcoin did that right at the end of 2020, with an amazing Q4 run that saw December push new highs.
We know alts typically lag a little, but outperforms in terms of percentages. And Ethereum did not disappoint in demonstrating exactly that in January.
ETH started January at $737, and very quickly (in a matter of 2 weeks), blasted past and almost did a double to clinch a new ATH at $1,475. It is currently settling between $1,350 and $1,400, and I believe it will gear up to settle above $1,400.
As of now, it means ETH has run up 84% just in January alone!
3 big reasons why Ethereum is rising in 2021
- As Bitcoin is quickly gaining momentum on the digital gold and store of value narrative, Ethereum is quickly gaining ground as the decentralised internet. Most of the DeFi platforms are running on top of Ethereum.
- They have also completed Phase 0 of ETH 2.0, launched in December, and are on track to switching ETH over from a POW to a POS network. This will enhance scalability.
- Ether futures will be launched on CME on Feb 8 2021. Investors are looking to front run this incoming tsunami of demand from institutional investors.
Crypto YouTubers going cray cray with price predictions
With ETH touching new ATHs and with price discovery mode imminent, Crypto YouTubers are now flooding my feed with insane price predictions for ETH in 2021 and beyond.
If you ask me, ETH has already done a 5X last year. In the last bull run of 2017, ETH started the year at $8 and closed off 2017 at $745. That is a whopping 9,000% return!
Given January’s momentum and prior price discovery antics, I’m gonna say I’m pretty confident (barring anymore liquidity events) that we can see ETH between $5K to $7K at December.
That represents a 600% to 900% increase for the year 2021.
IF (and that’s a huge if) ETH mirrors exactly the 2017 bull run numbers, we will see ETH prices at $68,000. If ETH in 2021 mirror’s Bitcoin’s 2017 gains, we will see a top price of $15,000 ETH.
So there you go, some numbers for you to think about. I’ve summarized it in a table below.
| ETH 2017 Bull Run | BTC 2017 Bull Run | |
| Jan | $8 | $973 |
| Dec | $745 | $19,700 |
| % Increase | 9313% | 2025% |
| If ETH 2021 mirrors BTC 2017 | $14,922 | |
| If ETH 2021 mirrors ETH 2017 | $68,633 |