free page hit counter

Ether (ETH) has broken a critical price against Bitcoin (BTC), indicating that altcoins are about to see massive winnings.

Overview of the cryptocurrency market. Source: Coin360

I’d bet Ether “all day” – Winklevoss

Data from CoinTelegraph Markets, Coin360 and TradingView showed that ETH / BTC passed the essential 0.026 level in just one daily candle on Jan 3rd.

After going weak in December, Ether rebounded in the first days of 2021, and Sunday’s performance could be the start of something much bigger.

As an analyst for Cointelegraph Markets Michaël van de Poppe noted last week that 0.026 BTC is a major breakthrough point, and turn it around to support indicates “strength and continuation” of a bullish resurgence.

“It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to break record highs,” he told Twitter followers on Sundays.

“I truly believe we are seeing money shifting from BTC to altcoins and that Ether has hit rock bottom on the BTC pair,” explains Van de Poppe. “So likely to continue altseason this quarter with the Bitcoin dominance topping.” He added:

“Anyway, a Bitcoin correction would also be appreciated.”

ETH / BTC 1-day candle chart (Bitstamp). Source: TradingView

At press time, ETH / USD was approaching its own historical price levels, targeting $ 1,000 based on 21% daily gains. The last time the pair traded against four digits was in January 2018.

“$ ETH was without a doubt the best performing asset (up 450%) of 2020 and still below all-time high,” Cameron Winklevoss, entrepreneur and co-founder of exchange Gemini, added on Twitter.

“Today it’s the equivalent of 15K #Bitcoin. I would make that bet all day long.”

At least Altseason is here?

With the prospect of “altseason” now firmly established back on the menu, top ten altcoins by market cap are showing signs of life against Bitcoin.