Ethereum Surges 90% in 2023 But Remains 50% Below All-Time High, Presenting Buying Opportunity and Risks
• Ethereum has surged over 90% in 2023 due to renewed optimism, but remains down 49% from its all-time high presenting a buying opportunity.
• Bull case is Ethereum's dominance in decentralized finance (DeFi), recent transition to proof-of-stake, and potential for SEC approval of Ethereum ETFs.
• Bear case is Ethereum still being controlled by a small group of people, technical risks from network upgrades, and uncertain regulatory outlook that could discourage adoption.
• Ultimately it's a matter of risk tolerance - Ethereum could reward patient investors but will continue to be volatile.
• Initiating a small position below $2,500 could make sense for those willing to accept the risks and wait 5-10 years.