Former Liverpool striker Michael Owen says it is too early to rule out the possibility of Jurgen Klopp's side challenging Manchester City for the Premier League title this season.
Liverpool sit fifth and trail runaway leaders City by 12 points after 11 matches, having lost 5-0 at the Etihad Stadium earlier in the campaign.
The Reds were also heavily beaten by Tottenham and were held to a goalless draw at home by Manchester United.
Despite that poor record against their title rivals, Owen believes Liverpool - who finished fourth last season - can recover to become a force in 2017-18.
"Liverpool had what everyone considered a really exciting season last season," Owen told Omnisport at the Golden Foot Hublot Award in Monaco.
"Lots of big teams came to Anfield and got beat. I think Liverpool fans, and me included, thought if Liverpool are on, they're virtually unstoppable, especially at home. And then with one or two signings obviously it reaches fever pitch.
"We're so early in the season, it's hard to rule anything in our out. At the moment, there's a big gap between everyone and Manchester City.
"Manchester City seem to be running away with it, playing brilliant football, but remember this happened last season. Manchester City went quite a few points clear and everyone was saying it was going to be their title and it never quite happened.
"There's a lot of football to be played. Liverpool look as if they're going to be into the next round of the Champions League, the cup competitions are all there; OK a few points behind where they'd like to be, but the season is still only young."
Klopp has faced criticism in some quarters this season, most notably for his side's defending - the Merseysiders have conceded 17 league goals so far this season, seven more than any of the top four.
Much of the frustration is borne out of the club's failure to strengthen the back line after missing out on Southampton's Virgil van Dijk.
"If you asked most Liverpool fans, they love the style of football," he added. "They all really like and respect Jurgen Klopp.
"I think there's a bit of frustration because it looked as if the big question mark before the season was going to be the defence and, as there was no real strengthening in that department, it's come home to roost in a way because it seems to still be the problem.
"However, it appears from the outside that efforts were made to strengthen in that area but obviously just couldn't go through.
"I suppose there's a frustration about results at the moment, especially as it's from an area that everybody could probably see needed strengthening.
"I think that's the only frustration. In the main I think everyone is behind the manager."