Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher

Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher
фото показано с : bitcoinist.com

2020-11-14 06:00

Bitcoin has strongly outpaced Ethereum in the past month. In the past 30 days, BTC has gained approximately 50% as ETH has only rallied by 20-30%. Analysts think that this gap will be closed in the months ahead as Ethereum is boosted higher by technical and fundamental trends. Bitcoin Fractal Analysis Indicates Ethereum to Rally Strongly Next

Bitcoin has strongly outpaced Ethereum in the past month. In the past 30 days, BTC has gained approximately 50% as ETH has only rallied by 20-30%. While that’s far from anything to scoff at, it’s clear that a divergence has formed between the performance of Bitcoin and the performance of altcoins.

Analysts think that this gap will be closed in the months ahead as Ethereum is boosted higher by technical and fundamental trends.

One crypto-asset analyst shared the image below, which shows Bitcoin’s price action over the past few years in relation to Ethereum’s price chart. There has been a divergence as the charts indicate, with ETH trading far below its all-time high relative to Bitcoin.

This analysis suggests that in the weeks and months ahead, ETH will rapidly move higher as it attempts to catch up to Bitcoin.

For context, BTC is around 20% from its all-time high. Ethereum reaching a similar level would mean it would need to recover to at least $1,000, which is over 100% the current price.

There are also signs indicating that Bitcoin dominance could soon fall, which would increase the chance an altcoin rally plays out. Analysts are optimistic that an altcoin rally would especially benefit ETH.

Chart of BTC's price action over the past few years with a fractal analysis to ETH's chart over the same time frame by crypto trader HornHairs. Source: BTCUSD from TradingView.com Strong ETH Accumulation

Data shows that there is a large amount of Ethereum accumulation that corroborates the bull case mentioned by analysts.

Grayscale reported a strong week for Ethereum institutional purchases earlier this month. The company also recently reported that it now has over $1 billion worth of ETH under management for its clients, which is a rapid uptick from the AUM (ETH) just months ago:

“MILESTONE: Grayscale #Ethereum Trust has just hit $1 billion AUM! As the first publicly-quoted $ETH investment product in the US and the second #digitalcurrency investment product to become an SEC reporting company, we’re proud of the milestones so far.”

Ethereum is set to continue higher as well due to the introduction of ETH2 staking, which incentivizes investors to take positions in the cryptocurrency. ETH2 users can earn a regular yield paid in ETH by running a validator node, which replaces miners on this new chain.

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3275.16 (-0.11%)
Объем 24H $24.782b
Изменеия 24h: -1.88 %, 7d: -17.12 %
Cегодня L: $3238.6 - H: $3302.71
Капитализация $394.51b Rank 2
Цена в час новости $ 456.25 (617.84%)

ethereum bitcoin higher past gap 20-30 analysts

Источник: bitcoinist.com

ethereum bitcoin → Результатов: 126


Why Ethereum (ETH) Will Most Likely Outperform Bitcoin Till 2025

In a recent Twitter thread, user @StockmoneyL laid out their reasoning for why Ethereum will outperform Bitcoin through the end of 2025. Drawing on factors like Ethereum’s move to proof-of-stake, the growth of ETH staking, Ethereum’s smart contract capabilities, its smaller market cap, upcoming Ethereum ETFs, and Bitcoin’s price cycles, Stockmoney Lizards built a compelling […] The post Why Ethereum (ETH) Will Most Likely Outperform Bitcoin Till 2025 appeared first on CaptainAltcoin.

2023-11-26 18:49


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin And Ether ETFs Set Record $7.6 Billion Inflows Amid Trump’s Crypto Push

Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]

Ethereum Bullish Signal: Adoption Hits Four-Month High Rate

On-chain data shows the Ethereum adoption rate has hit a four-month high, which could be bullish for the cryptocurrency’s price. Ethereum Network Growth Has Shot Up Recently According to data from the on-chain analytics firm Santiment, the ETH blockchain has recently created many wallets.

Ethereum Rockets Forward With 3.3% Network Growth While Bitcoin Goes Stale

On-chain data shows Ethereum has notably outpaced Bitcoin in terms of adoption during the last three months, a sign that could be positive for ETH. Ethereum Has Seen Its Holder Count Go Up By 3.3% In Last Three Months According to data from the on-chain analytics firm Santiment, Ethereum has continued to separate itself from […]