The first Ethereum rally took place between August 2015 and June 2016.
The second rally took place from June 2016 to December 2017.
The historic high of ETH is at $ 1,594
Ethereum (ETH) has grown significantly since March 2020. Unlike Bitcoin (BTC), however, it still has to surpass its all-time high (ATH) of $ 1,594, which it reached in January 2018.
In this article, we’ll compare the previous market cycles for Immediate Edge, and see how they can approximate the current upward movement.
The first major rally for ETH took place from August 2015 to June 2016. During this period, the price of ETH went from a low of $ 0.50 to a high of $ 21.49 , which represents an increase of 4,200%. This movement took place over a period of 308 days (shown in green below).
This movement was followed by a 72% drop in 175 days (shown in red), which led to a low of $ 5.92 in December 2016. Nonetheless, this new low still measured an increase of around 1,200% compared to August 2015 prices. This is also a higher low compared to August 2015 prices.
This period marked the first major market cycle for ETH. It also provided its first all-time high which, interestingly, has not been retested since.
ETH’s next significant rally started after the aforementioned low in December 2016. The rally was slightly longer, but with an even higher growth rate.
In 399 days (green), ETH rose 26.840%, reaching a price of $ 1,594 in January 2018. This is its all-time high, which is still valid today
This rally was also different from the previous one as it featured a 140 day period during which the price consolidated before heading for the high of $ 1,594. It is therefore possible to divide this period into two rallies, one which led to the peak of 405 dollars in June 2017 and the other which led to 1,594 dollars.
In all cases, there followed a period of massive correction (in red). ETH fell 95% in 336 days, reaching a low of $ 80.56 in December 2018.
As a result, the second rally represented an even higher rate of increase, but also a stronger and larger correction thereafter.