Ethereum is officially 10 years old. Honestly, I thought we’d have smashed $10K by now, but the reverse seems to be the case. Given its potential, I personally feel like it has underperformed.
Actually Ethereum never had any true potential for a long term price rise because of a simple fact: it has unlimited supply. It is like saying fiat will appreciate in value over time!
But apart from that because of all the protocol flaws, the mutable blockchain, its centralization and of course its lack of utility (in real world) makes it without-potential. So in a way the current price ETH has is an overperformance.
That said, could this finally be the year we see ETH hit $5K?
There is always a chance. It depends on two things:
1. Bitcoin price, considering shitcoins that dump against bitcoin don't usually dump as fast as bitcoin price goes up against dollar. Which means ETH dollar price can go up if bitcoin starts rallying hard.
2. The pumpers who are the only reason shitcoins like ETH go up in price. Although it gets increasingly harder to perform big pumps in old shitcoins that had gotten their major pumps, but the pumping team behind it can still pump it to some extent.
I’ve personally been holding ETH for about two years now,
2 years ago around August 2023 ETH price was roughly 0.06
BTC and today it is roughly 0.03
BTC ...