Ethereum is currently stuck at $2,000, and those holding onto it still hope it will break $5,000 and achieve historic highs. However, the truth is that the road ahead is still long and full of obstacles, as evidenced by the slow market movement, especially since Ethereum is lagging behind Bitcoin in its upward trend.
Bitcoin, as usual, is leading the market, and we've seen it rapidly rise to new levels, while Ethereum is trying to catch up, but very slowly. The gap between the two has become more pronounced recently, due to several reasons, most notably that massive liquidity flows into Bitcoin as soon as the market begins a bull run. After that, funds begin to flow into other altcoins. This means that Ethereum may move forward, but it's a step or two behind Bitcoin.
Despite this, the dream of $5,000 isn't impossible, but it requires factors that support its upward movement. First, we need to see the entire market continue in a positive direction, because if a severe correction occurs as Ethereum will not only fail to rise but it could also fall back to lower levels. Ethereum itself must improve, whether through technical updates that address the issue of high fees, or through increased reliance on the network for large projects.
Looking at the positive scenario if Ethereum can steadily cross the $2,500-$3,000 barrier, this could be the beginning of a real upward trajectory. Howeve if the market continues to waver, or if Bitcoin gains all its momentum we could see Ethereum stuck at its current levels for a long time. Ultimately, all Ethereum holders need patience and confidence, because cryptocurrencies have proven to be always full of surprises, and the market can present any currency with an opportunity at any moment.
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