I'm afraid my co-host @TrustlessState's end of year call of $7k ETH is not bullish enough. But I think it's also representative of ETH ptsd we all have - it's hard to remember what an ETH pump feels like. So $7k feels bullish. I'm not saying David is wrong btw - maybe he's right - but I want to give another scenario for you to ponder. A scenario that seems crazy but I actually think is almost as probable as David's. $15k ETH by end of year. $30k ETH or more this cycle. From 2018 to 2020 ETH was range bound from $180 to $300. A limp run to $330 in July 2019 couldn't be sustained and we traded sideways for what felt like eternity while other assets surged - including bitcoin. "ETH is just a gas token" was the narrative. For the first time in summer of 2020 ETH broke $400. A milestone but still a meager pump. ETH wasn't dead, but it was still considered silly to hold compared to alternatives. Bitcoin hit all time highs later in 2020 and DeFi assets raged up for the first time. "Hold bitcoin and DeFi - forget ETH" the btc/defi barbell was the new narrative. You could capture all crypto upside with those two assets, no need for ETH. Meanwhile ETH continued to range sideways. It wasn't until late in November/December 2020 we started to see early signs of strength. Then the explosion. By February 2021 ETH hit new all time highs above $1,500. In May of that year ETH was over $4k. From high $300's to $4k in 6 months - 13x up. I'm saying there's a non-zero chance ETH performs similarly this cycle. I'm saying that the $300s of 2020 seem like the $3000s of 2025. Right now we're range bound, below all-time-highs, meager moves up despite incredible news. Coiling like a spring. It's possible for ETH to 5-10x over a 6-9 month period of time if the conditions are right. We've already seen ETH do this. We've just seen BTC do this. Yes, the numbers are larger this time. But so is the capital entering crypto. This is the institutional cycle - wall street is here - and if ETH gets an institutional bid it could do what BTC has already done and more. ETH ETFs are crushing it. Billions in ETH treasury buys every week. 5x is $18k ETH 10x is $37k ETH That's still a lower multiple vs last cycle. Don't bank on this. Don't mortgage your home on this future. Don't expect it immediately. This is nowhere near a certainty. But also, don't count it out as a possibility. Be clear-eyed - shake off the ptsd. $30k ETH could really happen this cycle. Range bound for eternity then the explosion up.