I think this cycle could be different from 2020, but it’s too early to say it will be smaller. ETH’s next major move will depend on liquidity, institutional demand, and adoption of tokenization and stablecoins. The chart shows a possible breakout, but confirmation is needed.

In fact, research suggests the current cycle has already diverged from the 2018–2022 cycle, so the 2020 pattern may not repeat exactly.

My view: ETH could still make a strong move, but I wouldn’t assume this cycle will be smaller—or bigger—than 2020 based on the chart alone.