In this paragraph, in this article, we will check and take a look at the price changes and Ethereum’s bull. Which is for Ethereum (ETH) in the 2015-2018 bullish cycle and compare it to the current one. As both upward movements continued for a similar amount of time. The 2020 movement had a lot smaller size than the movement preceding it.
The first higher point movement for ETH token started on Oct. 2015. At that time, this token was trading at a very low price for only $0.42.
The high movement kept going for 812 days. As it was leading to a then all-time high price of $1,420. This token reached in Jan. 2018. In every part of this period, ETH token went high by a massive 335,191%.
Subsequently, a corrective period resulted in.Which kept going for 329 days. It was harshly 2.5 times shorter than the upward movement. It peaked with a low of $81.19, which reached on Dec. 2018. As the result, these two movements completed the first market cycle for Ethereum . From then, Ethereum’s bull has been on an upward trend.
Current Movement of Ethereum
Following the Dec. 2018 low, ETH started an upward movement that lasted for 882 days. It reached to an all-time high price of $4,380 being reached in April 2020. Moreover, the duration of time was closely identical to the preceding bull run of 2015-2018.
But, compare to the 2015-2018 movement, the rate of growth was notably smaller. ETH bullish cycle grew by 5,314%, which is 60 times less than the magnitude of increase in 2015-2018.
If a similar 94% fall were to follow, it would lead the price to a low of $260. Pluse, if the ratio of length among upward and downward movement stays the same, the low cloud be reachable sometime in April 2022.
As you know, Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. After Bitcoin, it is the second-largest cryptocurrency in market .Also, Ethereum is the most actively used blockchain. Ethereum created in 2013 by programmer Vitalik Buterin.