Ethereum prices are back in the doldrums after slumping more than 11% over the past week. The network is also facing inflationary pressures as the ETH supply returns to pre-merge levels due to low demand.<\/p>\n
Nevertheless, the Ether bulls remained upbeat and confident that this year will see a new all-time high<\/a> for the asset.<\/p>\n In a post on X on Jan. 12, crypto trader \u2018Mister Crypto\u2019 said he was accumulating because \u201cEthereum is about to send hard.\u201d The analyst posted a chart from the previous year with uncannily similar patterns which preceded a large move upwards.<\/p>\n Ethereum is about to send hard.<\/p>\n I\u2019m accumulating. pic.twitter.com\/GoWjHp4rVS<\/a><\/p>\n \u2014 Mister Crypto (@misterrcrypto) January 12, 2025<\/a><\/p>\n\n Meanwhile, popular crypto commentator \u2018CRYPTO\u20bfIRB\u2019 posted a similar chart asking their 698,000 X followers, \u201cWould you be surprised if ETH hit $20,000 this cycle?\u201d which got mixed reactions.<\/p>\n Would you be surprised if $ETH<\/a> hit $20,000 this cycle? pic.twitter.com\/6s9yZRVLLh<\/a><\/p>\n \u2014 CRYPTO\u20bfIRB (@crypto_birb) January 13, 2025<\/a><\/p>\n\n On Jan. 12, YouTuber \u2018Crypto Rover\u2019\u00a0said,<\/a>\u00a0\u201cThis breakout will teleport Ethereum to $8,000,\u201d while analyst \u2018Crypto Caesar\u2019\u00a0said<\/a> it was time for the ETH\/BTC ratio to bounce, renewing calls for altseason.<\/p>\n The ratio, which measures the price of ETH in terms of BTC, is at a three-year low of 0.034, according<\/a> to Tradingview.<\/p>\n Another concern is the network returning to an inflationary supply, which has been the case since April 2024. Over the past nine months, the Ethereum supply has increased by 0.35% and is currently 120.4 million, according<\/a> to Ultrasound.Money.<\/p>\n \u201cThe supply of ETH will likely reach the pre-merge supply within the next few weeks,\u201d observed ITC founder Benjamin Cowen on Jan. 13.<\/p>\n \u201cIt is currently increasing by about 45k ETH\/month, but the supply is only 32k ETH away from the pre-merge supply.\u201d<\/p>\n \u201cUp until this point, though, demand has remained so low that the supply of ETH has been inflationary for about the last 10 months,\u201d he added<\/a>.<\/p>\n The narrative at the time of the Merge in late 2022 was that Ethereum fee burning through EIP-1559 would outpace production, and that was the case until April 2024, when supply had shrunk by almost 0.4%.<\/p>\n Ethereum has remained flat over the weekend but dropped alongside the rest of the market early on Monday to under $3,200.<\/p>\n The asset has tanked almost 15% since its 2024 high of just over $3,700 around a week ago.<\/p>\n ETH has been consolidating at current levels for the past five days and needs to hold them to prevent a larger price<\/a> collapse below $3,000.<\/p>\n $ETH<\/a> might dump all the way to $2,800 under this bearish scenario! In that case, it would be a golden opportunity to BUY more #ETH<\/a> for the long term!<\/p>\n Trade #Ethereum<\/a> on Bybit \u2013 https:\/\/t.co\/TsSnqpda67<\/a> pic.twitter.com\/yZ0aSYEpyl<\/a><\/p>\n \u2014 The Moon Show (@TheMoonCarl) January 12, 2025<\/a><\/p>\n\n The post Ethereum Bulls Eye $20K Despite Recent Slump and Supply Inflation<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum prices are back in the doldrums after slumping more than 11% over the past week. The network is also facing inflationary pressures as the ETH supply returns to pre-merge levels due to low demand. Nevertheless, the Ether bulls remained upbeat and confident that this year will see a new all-time high for the asset. […]<\/p>\n","protected":false},"author":0,"featured_media":35258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-35257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/35257"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35257"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/35257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/35258"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Deflationary Supply to End<\/h2>\n
ETH Price Outlook<\/h2>\n