When will that be. I don't have any hope on Ethereum reaching $5k because it couldn't make it last bull run and couldn't make a new ATH since the price didn't even reach the ATH price of 2021.
Many altcoins did not get a new ATH in the last bull run, but Ethereum was not one of them. Ethereum got a new ATH last year and beat the ATH of 2021. It got to about 4,900 in August of last year. I know that Ethereum has been underperforming, but you can't believe it will never get to 5,000 dollars. You won't use its current price to judge how it will perform in a bull market. We are in a bear market, so it's normal for prices to be low. I am very sure Ethereum can get to 5,000. If it doesn't reach it in the next bull season, it will get there in the one after that.
I feel that majority of investors have lost hope on Ethereum and that will definitely affect her future in the market. Some altcoins did better than Ethereum last bull run.
For a very long time, Ethereum was underperforming, but from the third quarter of last year to now, it's been trying. I don't have much faith in Ethereum, but it's not doing as badly as you say. The fact that some Altcoins performed better doesn't mean it cannot perform well. I believe Ethereum will do well in the next bull season. Despite how brutal this bear season has been, it has held its own so far. That's promising.