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Prior to Jurgen Klopp’s appointment, the bookies were offering 100/1 on Liverpool winning the Premier League title.

Put into context that’s the kind of odds you would get on Elvis being spotted riding Shergar down Walton Breck Road.

Over the past two months - as Klopp has set about drastically transforming the club’s fortunes - that price has tumbled to just 14/1.

The impossible is now simply the improbable with the Reds rated fourth favourites behind Manchester City, Arsenal and Manchester United.

“Are you crazy?, ” was Klopp’s animated response to being quizzed about a potential title challenge after celebrating the first league win of his reign at Stamford Bridge.

Wary of expectation levels getting out of control, you still won’t catch the German coach publicly discussing the possibility of the Reds forcing their way into the race for the big prize.

Yet in the wake of Sunday’s hard-fought win over Swansea City, a growing number of supporters are doing exactly that. Leaders Manchester City are just six points better off. There are still 72 points left to play for.

Qualifying for the Champions League remains the overriding priority and if Klopp delivers that top-four finish his first season at the helm will go down as a miraculous success considering that when he arrived Liverpool were stuck in mid-table having taken just 12 points from eight matches.

However, it’s not just blind faith that has led to some daring to dream of the Reds climbing to the summit between now and May. With so many of their rivals stumbling, opportunity knocks for Liverpool if they can maintain momentum.

This is a Premier League season like no other

There is no outstanding team in the top flight this term. City remain the hot favourites having splashed out £150million last summer but Liverpool's ruthless demolition of Manuel Pellegrini’s side at the Etihad recently laid bare their glaring weaknesses.

City recovered to beat Southampton 3-1 at the weekend but Sergio Aguero was forced off again as he suffered another injury scare.

Losing Aguero for another extended spell would be a huge blow, especially as fellow strikers Wilfried Bony and Kelechi Iheanacho have scored only three league goals between them this season.

United remain within touching distance of top spot but have failed to convince and unrest is growing among their fanbase over the dour style of football served up by Louis van Gaal.

They lack both ambition and firepower and have a lengthy list of injuries with Wayne Rooney going off against Leicester. United are already without the likes of Phil Jones, Ander Herrera and Antonio Valencia.

This was supposed to the year when Arsenal kicked on but doubts continue to surround Arsene Wenger’s men who have taken just two points from their last three league games against Tottenham, West Brom and Norwich.

The bruising draw at Carrow Road came at a cost with Alexis Sanchez, Santi Cazorla and Laurent Koscielny all hurt. Sanchez’s hamstring strain will deny the Gunners the services of their biggest talent for a pivotal stage of the season. They are already without Francis Coquelin, Jack Wilshere, Tomas Rosicky and Mikel Arteta.

Leicester City’s heroics under Claudio Ranieri command respect but it’s difficult to see them lasting the pace. Tottenham have to be taken seriously with Mauricio Pochettino having worked wonders at White Hart Lane but they rely heavily on Harry Kane staying fit.

Champions Chelsea have shown signs of a revival after their nightmare start but already look too far adrift. Jose Mourinho’s fallout with Diego Costa further reduces their chances of forcing their way back into contention.

History suggests that Liverpool could yet mount a challenge.

Klopp’s side are closer to the top now than Brendan Rodgers’ men were at the same stage of the memorable 2013/14 season.

Back then, Liverpool were seven points adrift of leaders Arsenal after 14 league matches on 27 points. During that thrilling campaign it was only in the New Year that the Reds truly looked the part - putting together a stunning 11-match winning run from February to mid-April - before that crushing defeat to Chelsea left their title hopes in tatters.

Klopp has now a selection headache of a very different kind.

The Reds boss was hampered by an injury crisis from his first week in the job. Joe Gomez and Danny Ings suffered cruciate ligament injuries.

They joined captain Jordan Henderson, Daniel Sturridge, Jon Flanagan, Christian Benteke and Roberto Firmino on the sidelines. Klopp was down to the bare bones.

Yet now the landscape is very different. Defensively, the squad is still thin with Mamadou Sakho’s knee injury likely to keep him out until the turn of the year.

But going forward Klopp now has real options. Henderson, Sturridge, Benteke and Firmino are all back, while Philippe Coutinho has been passed fit after a hamstring scare. It’s a timely boost as Liverpool approach the busiest period of the season.

Liverpool have already faced their toughest tests.

The fixture computer gave the Reds a daunting start which ended up costing Brendan Rodgers his job and saw Klopp accept the challenge to plot the club’s resurgence.

Now they have come through that gruelling run in decent enough shape and in a great position to really push on. Liverpool have already played away to Manchester United, Manchester City, Arsenal, Tottenham, Chelsea, Everton and Stoke. They must all travel to Merseyside in the second half of the campaign as Klopp looks to turn Anfield back into the fortress it once was.

In the short-term, Liverpool have a run of games which gives them the perfect chance to end 2015 with a bang.

It’s Newcastle (away), West Brom (home), Watford (away), Leicester (home) and Sunderland (away) before the turn of the year. If the Reds can sweep them aside you can guarantee that 14/1 will no longer be available.