Ethereum targets $ 1K after ETH, altcoins rally against Bitcoin

Ether (ETH) has crossed a critical price point against Bitcoin (BTC), signaling that altcoins could be on the verge of seeing huge gains.

I would take the Ether bet “all day” – Winklevoss

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH / BTC to break through the essential 0.026 level in a single daily candle on January 3.

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

As Cointelegraph Markets analyst Michaël van de Poppe noted last week, 0.026 BTC is a significant break point, and returning it to support indicates “the strength and continuation” of a bullish resurgence.

“It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and many more to break new heights,” he said. Told Twitter followers Sunday.

“I believe we are seeing money move from BTC to altcoins and Ether has bottomed out on the BTC pair,” Van de Poppe explained. “So probably a continuation of the altseason this quarter as Bitcoin overtakes dominance.” He added:

“But hey, a Bitcoin correction would also be appreciated.”

At the time of going to press, ETH / USD was approaching its own all-time price levels, aiming to hit $ 1,000 with daily gains of 21%. The last time the pair traded in four digits was in January 2018.

“$ ETH was the best performing asset (up 450%) of 2020 hands down and still below its all-time high,” Cameron Winklevoss, entrepreneur and co-founder of the Gemini exchange, added on Twitter.

“Today is the equivalent of 15K #Bitcoin, I would take that bet all day.”

Altseason is there at least?

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