Taking to the social media platform X, the analyst noted that in that earlier cycle, Bitcoin endured an 83% drop from its highs before staging a powerful 342% recovery. This was followed by a secondary correction of around 63%, which ultimately served as the base for a 1,110% surge between the second half of 2020 and the first half of 2021.
This latest rally shows Ethereum is now in the final phase, where it could be positioned for a comparable explosive run to as high as $20,000 if the fractal continues to play out.
At the time of writing, Ethereum is trading at $4,225, up by 23% in the past seven days.
Featured image from Unsplash, chart from TradingView
