• Ethereum whale who bought a significant amount at the market low deposited 5,000 ETH to Kraken exchange for significant profit.
• The RSI of Ethereum is hinting at bullish signs amidst a bearish market as ETH has plunged by 14% over the past 7 days.
• Historical analysis shows Ethereum’s pattern of sharp growth followed by significant downturns, with a 5,400% rise in 2020-2022.

In September 2022, during Ethereum’s shift to proof-of-stake, a savvy whale seized the moment, accumulating ETH. With Ethereum priced at approximately $1,567 per ETH, the whale secured a whopping 96,638 ETH, valued at $151.42 million, via withdrawals from Coinbase. 

Recently, this whale has again made waves, depositing 5,000 ETH into Kraken, signaling continued activity in the market. Lookonchain‘s insights shed light on this whale’s strategic moves, painting a picture of a seasoned player navigating the crypto seas with precision. 

The market analysis of Ash Crypto into Ethereum’s cyclical behavior reveals HODLing of ETH could reap huge profits. The analyst in a recent X post shed light on the comprehensive review, Ethereum has demonstrated significant volatility and growth across several cycles since its inception.

According to the analyst, Ethereum saw an enormous increase between 2016 and 2018, with a remarkable climb of 22,000% from its lowest point in the cycle. However, this rapid growth was followed by a sharp decline, with the cryptocurrency losing 94% of its value. This fluctuation emphasized the inherent volatility and the high-risk, high-reward nature of investing in digital currencies.

During the cycle between 2020 and 2022, Ethereum experienced strong growth, although it was slightly more modest than in the previous period. Ethereum increased by 5,400%, which was roughly one-fourth of the gain it had made in the previous cycle, before experiencing an 82% downturn. This pattern underscored the cyclical nature of Ethereum’s market dynamics and suggested a consistent rhythm of steep rises and falls.

Looking ahead to the 2024-2026 cycle, the analyst provided an intriguing forecast based on historical data. He noted that Ethereum’s cycle low for this period was recorded at $880. If the cryptocurrency follows a similar pattern to its previous cycles, it could rise by 1,350%, a quarter of its gain. Such an increase would catapult Ethereum’s value to an estimated $12,700.

His insights offer a blend of historical analysis and forward-looking predictions. At the time of press, Ethereum’s value stood at $2,970.04 indicating a decline of over 14% during the past 7 days. The RSI value of 36 showcases the possibility of a bullish trajectory for ETH amidst the ongoing whale activities.