According to Glassnode, a crypto data platform, Ethereum has been underperforming compared to Bitcoin in this cycle because there has been a noticeable delay in speculative interest from the STH cohort. However, just days before this report, some investors had a positive outlook on ETH’s price, believing that it could experience a breakthrough by the end of the year. An anonymous crypto analyst named Ash Crypto shared with his followers on May 6th that based on a historical model, a similar pattern from the fourth quarter of 2020 could potentially result in a breakout in the third quarter of 2024.
