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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Experienced Analyst Reveals What Must Happen for the Expected Big Ethereum (ETH) and Altcoin Season!
While investors witness many principles in Bitcoin (BTC), the same situation did not occur for Ethereum (ETH) and altcoins. This is because while BTC is signing new ATHs, ETH and many altcoins are quite far from their previous ATHs.
While the market is divided on the altcoin rally, one faction claims that the expected altcoin rally will not happen, while the other faction argues that the altcoin season is coming.
At this point, seasoned analyst Michael van de Poppe stated that the recovery of altcoins is dependent on Ethereum.
Altcoin Season Depends on Ethereum's Performance!
Michael van de Poppe argued in his analysis that interest in the crypto market is slowly shifting away from Bitcoin and moving towards Ethereum.
"Markets are no longer completely focused on Bitcoin; in fact, they are shifting towards Ethereum. The first signs of this are that we currently see better returns from Ethereum."
At this point, Poppe stated that he agrees with the views of on-chain analyst Willy Woo, who argues that the cryptocurrency market has entered an "Ethereum phase."
Poppe stated that interest has shifted from Bitcoin to Ethereum, but this change has not been noticed, pointing to investors as the reason.
According to the analyst, most investors are unable to see the transition to ETH because the market continues its negative mentality.
The analyst also stated that Ethereum needs to show a stronger and more sustainable performance for the long-awaited altcoin season to begin.
Poppe also added that ETH needs to show stronger momentum and resilience for investors to balance their positions at the break-even point or to close with a profit.
Crypto analyst Ted, known by the pseudonym Poppe, noted that ETH is currently following a trajectory similar to Bitcoin's 2017-2021 cycle, predicting that a real parabolic rise could begin with ETH surpassing the $4,000 mark.
*This is not investment advice.
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