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

Ether (ETH) has broken a critical price point against Bitcoin (BTC), indicating that altcoins are on the verge of seeing big gains.

Overview of the foreign exchange market. Source: Coin360

I would bet Ether ‘all day’ – Winklevoss

Data from Cointelegraph Markets, Coin360 and TradingView showed that ETH / BTC passed the essential 0.026 level in just one daily candle on January 3rd.

After remaining weak throughout December, Ether recovered 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 major breakout point, and to support it indicates ‘strength and continuation’ of a strong revival.

“It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to catch up all the time,” he said. tell Twitter followers on Sunday.

“I believe we are seeing money shift from BTC to altcoins and that Ether on the BTC pair has reached the bottom,” Van de Poppe explained. “So probably the continuation of the season this quarter with the exploitation of Bitcoin dominance.” He added:

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

ETH / BTC 1-day Christmas card (Bitstamp). Source: TradingView

With the pressure of time, ETH / USD is approaching its own price price levels and aiming for $ 1,000 due to the daily profit of 21%. The last time the pair traded at four figures was in January 2018.

“$ ETH was the best asset (450% higher) in 2020, and still lower than the all-time high,” said Cameron Winklevoss, entrepreneur and co-founder of exchange Gemini, added on Twitter.

“Today is the equivalent of 15K #Bitcoin. I’ll take the bet all day.”

Altseason is here at least?

With the prospect of ‘altseason’ now back on the menu, top ten market capitalization altcoins are showing signs of life against Bitcoin.