Why do you think ETH was not able to make a new All time high?

[God Of Thunder]

The dough flowing into those spot ETH ETFs and the whales just keep on gobbling up more – those are the early birds we're keeping an eye on to keep holding and wait for ETH's next big splash. Sure, there's always a bit of a rumble in the jungle with competition, but I don't see SOL snatching ETH's crown as the altseason hype man anytime soon.

Well, time has also changed a lot of things. Bitcoin has already made a couple of all-time highs, and some adults have as well. What about ETH? ETH touched 4K and then dropped to 1.5 K. I am not expecting much from ETH anymore since they moved from POW to POS. ETH has a huge user base, and the support of Miners was tremendous.

I don't see ETH positively anymore. I do not want to rely on any of the Altcoins, not even on SOL or any other coins/tokens. Just Bitcoin and let's see what happens in the future.

[philipma1957]

bitcoin price has gone back up to $94K, and some altcoins are also starting to rise. I still have confidence that bitcoin price has the potential to touch ATH again this year.
I don't think we will have a bearish season anytime soon, because I think the bullish season will last long until the end of this year.

Although the price movement of ETH is quite slow, I still believe that Ethereum will still be able to reach a new ATH. Yesterday, the price of ETH dropped a lot, it was very concerning the rate of its price decline which was very drastic. However, now, along with the increasing price of BTC, the price movement of ETH is also quite good. Yes, although not as fast as Bitcoin or several other top altcoins. but there is some significant progress on ETH. And Ethereum's ATH was $4,891, and now the price is around $1.8k, it is still possible that there will really be an altcoin season.

In a rational world maybe eth price reach 5k in 2032 or later.

It is much more of a bond or dividend product.

Also the og developers have over 25% of all the coins and at 25 cents a coin.

This acts as a price stabilizer.

I SEE THIS COIN STUCK IN A 1200 TO 2500 PRICE FOR YEARS TO COME.

and the og developers just sell off the interest coins.

[Bobcrypto]

Yes, as the title says, I would like to know what you guys think about it. I believe the main reason is that ETH moved from POW to POS. I am not investing a single cent in ETH anymore. But believe me, A lot of people still believe in ETH and want to invest their money. I asked ChatGPT the same question, and the answer was this;

There are several potential reasons why Ethereum (ETH) may not have made a new all-time high despite its strong fundamentals and market positioning. Some of the key factors include:

1. **Overall Market Conditions**: The broader cryptocurrency market, including Bitcoin (BTC), can heavily influence Ethereum’s price. If the market as a whole is experiencing a bearish phase or high volatility, even projects with strong fundamentals like Ethereum can struggle to break new all-time highs.

2. **Macro-Economic Factors**: Global economic conditions, such as inflation concerns, rising interest rates, or uncertainty in traditional financial markets, can affect investor sentiment. When investors are uncertain or risk-averse, they may move away from speculative assets like cryptocurrencies, even if their long-term outlook is positive.

3. **Ethereum’s Transition to Proof-of-Stake (PoS)**: Ethereum underwent a significant upgrade with the merge from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in 2022. While the upgrade was seen as a long-term positive, it caused a period of uncertainty in terms of how the market would react. Transition phases in such a large-scale project can sometimes lead to a delay in price appreciation, especially as the ecosystem adapts to the new mechanisms.

4. **Competition from Layer-1 and Layer-2 Solutions**: Other blockchain platforms, such as Solana, Avalanche, and even newer Layer-2 scaling solutions on Ethereum like Optimism and Arbitrum, have gained traction. These alternatives often promise faster transaction speeds, lower fees, and scalability, which can take attention away from Ethereum as the dominant smart contract platform.

5. **Regulatory Uncertainty**: Cryptocurrencies, including Ethereum, face ongoing scrutiny from regulatory bodies in various countries. Any potential regulations or legal uncertainties surrounding Ethereum, smart contracts, or decentralized finance (DeFi) could lead to hesitancy among institutional investors and retail traders, which might cap its growth.

6. **Ethereum Network Congestion and High Gas Fees**: Despite Ethereum’s transition to PoS and its efforts to scale, the network still faces congestion issues, especially during periods of high demand. High gas fees and slow transaction times during these times can push users to other blockchains that offer faster and cheaper transactions.

7. **Market Sentiment and Speculative Cycles**: Cryptocurrency markets are often driven by sentiment and speculation. When the broader sentiment shifts from bullish to bearish, or when expectations are not met (for example, with delayed features or upgrades), the price can stagnate or even decline. Even with positive technical developments, Ethereum's price could be influenced by changing market sentiment.

8. **The Role of Bitcoin**: As the largest cryptocurrency by market cap, Bitcoin often leads the market. If Bitcoin experiences a correction or fails to make new highs, Ethereum might also be held back in its price appreciation.

9. **Sell-offs and Profit-Taking**: Investors who bought ETH during previous bull markets or dips may decide to take profits at certain price levels, preventing Ethereum from breaking through its previous all-time highs. These sell-offs can create resistance at certain price points.

In summary, a combination of macroeconomic conditions, regulatory uncertainty, competitive pressures, and market sentiment all play a role in why Ethereum hasn't yet broken its all-time high. However, Ethereum remains a highly important blockchain, and it still has significant potential for growth, particularly as its ecosystem continues to evolve.

And one of the reasons Etheruem has been underperforming was because of greater the competitive economy of more blockchain networks that are doing more marketing, promotions, innovations etc.
I think Etheruem is still levareging on it's past records but with like the of XRP, Solana, Ada have been shortlisted along side Bitcoin on the strategy reserve, it was clear that these projects respective teams are making huge efforts than Etheruem.

[TomPluz]

Ethereum has already lost a big part of its competitive edge and unless it can find to bring the magic back this can have a hard time to break the $2500 level and make another new ATH. This can be the biggest challenge to the team of Vitalik Buterin: to find the problems weighing on the network and to come up with more innovations that can match what other networks can provide. These days, Ethereum is not anymore THE option but just one of the many...and sadly many developers are switching to other players like Solana and similar platforms. Ethereum has to offer something new, better, bolder and of course a lot cheaper than those already available in the crypto market.

[Hisbullah]

And one of the reasons Etheruem has been underperforming was because of greater the competitive economy of more blockchain networks that are doing more marketing, promotions, innovations etc.
I think Etheruem is still levareging on it's past records but with like the of XRP, Solana, Ada have been shortlisted along side Bitcoin on the strategy reserve, it was clear that these projects respective teams are making huge efforts than Etheruem.

Solana does show good progress as a network that is widely used by hype meme coins. This makes solana enthusiasts increase. Ethereum as a network seems to be starting to decrease in interest and investor enthusiasm is still on bitcoin. For altcoins, it seems that many investors are starting to turn away from ethereum. However, this is just my opinion, it could be that ethereum will show good progress next month.