In December 2024, Ethereum experienced a significant correction, dropping from $4,000 to below $3,400. However, crypto analyst Trader Tardigrade is optimistic about Ethereum's future, predicting a surge to $8,000 in 2025. The analyst notes that Ethereum is currently in a consolidation phase, similar to a previous market cycle between 2018 and 2021. In that cycle, Ethereum consolidated around $500 before experiencing a rally in 2021. Trader Tardigrade believes that Ethereum's current consolidation phase is building momentum for another rally. Reaching $8,000 would be a new high for Ethereum, representing a 64% increase from its current all-time high. The factors that could drive Ethereum's rally in the current market cycle include institutional demand and inflows into Spot Ethereum ETFs. On-chain data also shows that more long-term holders are accumulating Ethereum, with many anticipating a move above $5,000 in 2025. Currently, Ethereum is trading at $3,354.



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