Originally published on: September 19, 2024
The future of Ether has been murky as it struggles to gain traction in 2024. However, according to Matt Hougan, the chief investment officer at Bitwise Asset Management, Ethereum could be the unexpected winner heading into 2025.
Despite hitting a 42-month low against Bitcoin in September, Hougan remains bullish on Ether’s long-term potential. He acknowledged the current challenges facing Ether, but believes that there could be a turnaround on the horizon.
While Ether has been overshadowed by competitors like Solana, which has seen a 38% increase this year, there is still hope for the popular cryptocurrency. Some analysts predict that Ether could be setting the stage for a resurgence in the fourth quarter of 2024.
Despite the debut of the first Ethereum exchange-traded funds in July failing to make a significant impact on price, there are indications that Ether could be on the cusp of a major rally. The key support level of $2,200 will be crucial in determining whether Ether can break out of its current slump.
As Bitcoin gears up for a potential parabolic phase in the coming months, there is optimism that Ether could ride the wave of a broader cryptocurrency rally. With historical patterns suggesting a possible three-month Bitcoin surge to $92,000, Ether investors could be in for a lucrative end to the year.
It’s important to note that this article is not offering investment advice, and readers should always conduct their own research before making financial decisions. However, with the potential for Ether to defy expectations and make a comeback in 2025, it could be a promising bet for those willing to take a chance on the underdog.
