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- 🍁 Golden Autumn, Big Prizes Await!
Gate Square Growth Points Lucky Draw Carnival Round 1️⃣ 3️⃣ Is Now Live!
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Post original content on Gate Square related to 0G or the ongoing campaigns (Earn, CandyDrop, or Contract Trading Competition) for a chance to share 200 USDT rewards!
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Ethereum overtakes Bitcoin. What is happening with ETH
Against the backdrop of Bitcoin's decline, the second-largest cryptocurrency Ethereum has started to rise in value. Many members of the crypto community believe that such behavior of ETH confirms the onset of the alt season.
Gathered in one review are notes from crypto investors about Ethereum and forecasts for the coin. We discuss what market participants expect from ETH.
After reaching an all-time high on July 14, Bitcoin entered a correction. While BTC weakened and lost its market dominance, ETH gradually started to rise.
Analysts from Lookonchain noted that institutional investors have started actively buying ETH. The interest of whales in Ethereum could be the main driving force behind the cryptocurrency's price growth.
Many participants in the crypto community are confident that such behavior of ETH confirms the beginning of the alt season. This theory is shared by crypto investor Ted Pellow, crypto blogger Carl Moon, crypto trader Ash Crypto, and others.
Analyst Michael van de Poppe emphasized that such market movements are often observed before the start of the alt season. He was supported by analyst Lark Davis. He believes that the ETH chart shows a technical analysis figure called a "bull flag." A breakthrough of its upper boundary could pave the way for the coin to continue its growth.
Optimist Tom Lee joined the ranks. In his opinion, the cryptocurrency price has rebounded from a minimum near $1,385 and is now ready to continue its growth. He noted that despite the already realized positive dynamics, the cryptocurrency is still cheaper than it was a year ago at this time.
There are also negatively inclined crypto enthusiasts. Some crypto investors point out that the small increase in ETH has not yet covered even part of the losses that the coin has experienced in previous months. Therefore, critics believe it is still too early to talk about a parabolic rise of Ethereum.
ru.beincrypto.com