With ETH making new highs today again I got curious on where this move is in relation to the last big raging bull run of 2017 into 2018.
You can look at all different types of chart; logarithmic, regular, different time frames but in the end the percentage rages show in the chart work out to about the same.
The screenshot may not be big enough to see, but the first blue range from the 2017 runup was roughly a 450% move higher in price.
The second blue range, our current move is at about 435% higher since taking off from the basing area back in October.
Well, that is up for debate as this move on a percentage basis is nearing the size of the last move.
Then there is complete different environment of the current market compared to the 2017 run, with tons on institutional money coming in and the DEFI products building like crazy on ETH.
Last time it was the ICO craze, most of which were shit coins. Atleast with DeFi there is an actual functioning business model behind most of them that makes sense.
So who really knows what will happen, but I can tell you this. If we see another leg up this month the cat may be looking for strategies to lock in some of these gains the past few months.
Posted Using LeoFinance Beta