I feel this year we can see ethereum back at $1200 because more and more people join DeFi projects and that's why I think it will be a bullrun . But as we know every investment has their own risks
$ 1200 is too fast for the current ethereum price even this year, even though the market is bullish, the price will not increase that fast, it needs to process and slowly to get it, about Defi there are still many scammers taking advantage of it, but I think we need to touch it $ 600
I think the Defi phenomenon will soon fade when too many projects are starting to switch to this trend, ethereum may have only a small portion associated with this trend but its value will likely correct, and the next thing we can't forget is the value of bitcoin, it is beginning to have a quiet and dreadful period, many analysts signaling a sharp decline. Ethereum is the closest figure to bitcoin, it will surely be affected by this storm, it is better to wait, even close profits, instead of thinking too much about a high price.