Ethereum is going through tough times: over the past 15 days, the altcoin has lost $62 million in market capitalization, and the ETH/BTC pair has plunged by 77%, reaching a low not seen since December 2021. However, despite the pessimism, some analysts believe this could be the beginning of a long-awaited reversal.
According to the analytical platform Santiment, the growing bearish sentiment among investors may play to Ethereum's advantage. History shows that markets often move against mass expectations, and this could lead to a positive scenario for the altcoin.
The drop in ETH/BTC has become a source of irony among major crypto traders, but analysts emphasize that even a prolonged decline is not a reason to write off the asset.
Among the factors hindering Ethereum's growth, experts cite: increasing competition from layer two solutions, development delays, high fees, and heightened regulatory scrutiny.
At the time of publication, Ethereum was trading at $1595, gaining about 2.8% over the day. Just a few days ago, it had fallen to a two-year low of $1385.