The Bear Crypto Market - Ethereum To $2k?

Looking at my cryptocurrency portfolio today, I saw that I am down over 70%, which is a lot, but given that it's a bear market, we can argue that it's good because this loss percentage is based on their all-time high price. When Ethereum's value was about $200 and it was the second cryptocurrency after Bitcoin, I recall being particularly interested with investing in it at one point. But regrettably, I sold it off before it began reaching various record highs. Since 2021, the price of Ethereum has fallen by 60% from its peak, yet it still appears to be in good pricing shape.

The cryptocurrency market is currently in a bear market phase, although some cryptocurrencies are pumping, some are still gaining in value, while others are just standing still or consolidating. The cost of bitcoin and ethereum has been gradually rising. In the past few months, the price of bitcoin was below $20k and the price of ethereum was below $1.5k. Now, however, the price of bitcoin is above $30k and the price of ethereum is about $1.9k, which is only a few dollars away from $2k and is likely to be reached shortly.

In terms of utilities and acceptance, Ethereum has been making progress. A number of layer tokens have been developed on the Ethereum chain, and new layer 2 native tokens are being introduced all the time.

Remember that Bitcoin was once that price. However, I don't think the price of ethereum will ever reach the price of bitcoin, which is over $30k, considering ethereum doesn't have a fixed supply. However, ethereum's deflationary act assists in reducing the supply of ethereum and prevent it from being overinflated.