A new post came from cryptocurrency analyst Michael van de Poppe, who is closely followed by investors with his analyzes on Bitcoin and altcoins.
While BTC and altcoins are rising again today, successful analyst Poppe said that Ethereum is ready to rise.
At this point, the analyst claimed that the bull rally in altcoins had just begun and argued that ETH would lead this rally.
Stating that ETH could rise up to $3,500 with upward momentum, Poppe analyzed the ETH/BTC pair.
Stating that the ETH/BTC trading pair is at the bottom, the analyst said that Bitcoin dominance has reached its peak.
At this point, the analyst argued that the history of BTC dominance peaking before the Bitcoin halving was repeating itself, and said that this situation signaled the beginning of the altcoin rally.
“Ethereum remains critical at $2,150 and is ready to continue its upward path.
We are probably at the bottom in the ETH/BTC pair and have peaked in Bitcoin dominance.
The history of BTC dominance reaching its peak before the Bitcoin halving is repeating itself.
This means that the bull market has also started in altcoins and Ethereum will lead the rally.”
ETH, which has increased by 6.5% in the last 24 hours, continues to be traded at $ 2,349 at the time of writing.
Likely, history is repeating itself in which we're peaking with the #Bitcoin dominance prior to the Bitcoin halving.
That means that the bull market on #Altcoins have started and Ethereum will take over from here. pic.twitter.com/oRescnSsqC
— Michaël van de Poppe (@CryptoMichNL) December 27, 2023
#Ethereum holds crucial level at $2,150 and is ready to continue the upwards path.
Likely, we've been bottomed on the $ETH / $BTC pair and have peaked on the Bitcoin dominance. pic.twitter.com/51qH96peeI
— Michaël van de Poppe (@CryptoMichNL) December 27, 2023
*This is not investment advice.
