• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher

December 1, 2020
in Ethereum
Reading Time: 2min read
Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher



  • Bitcoin has strongly outpaced Ethereum in the past month.
  • In the past 30 days, BTC has gained approximately 50% as ETH has only rallied by 20-30%.
  • Analysts think that this gap will be closed in the months ahead as Ethereum is boosted higher by technical and fundamental trends.

Bitcoin Fractal Analysis Indicates Ethereum to Rally Strongly Next

Bitcoin has strongly outpaced Ethereum in the past month. In the past 30 days, BTC has gained approximately 50% as ETH has only rallied by 20-30%. While that’s far from anything to scoff at, it’s clear that a divergence has formed between the performance of Bitcoin and the performance of altcoins.

Analysts think that this gap will be closed in the months ahead as Ethereum is boosted higher by technical and fundamental trends.

One crypto-asset analyst shared the image below, which shows Bitcoin’s price action over the past few years in relation to Ethereum’s price chart. There has been a divergence as the charts indicate, with ETH trading far below its all-time high relative to Bitcoin.

This analysis suggests that in the weeks and months ahead, ETH will rapidly move higher as it attempts to catch up to Bitcoin.

For context, BTC is around 20% from its all-time high. Ethereum reaching a similar level would mean it would need to recover to at least $1,000, which is over 100% the current price.

There are also signs indicating that Bitcoin dominance could soon fall, which would increase the chance an altcoin rally plays out. Analysts are optimistic that an altcoin rally would especially benefit ETH.

Chart of BTC's price action over the past few years with a fractal analysis to ETH's chart over the same time frame by crypto trader HornHairs.
Source: BTCUSD from TradingView.com

Strong ETH Accumulation

Data shows that there is a large amount of Ethereum accumulation that corroborates the bull case mentioned by analysts.

Grayscale reported a strong week for Ethereum institutional purchases earlier this month. The company also recently reported that it now has over $1 billion worth of ETH under management for its clients, which is a rapid uptick from the AUM (ETH) just months ago:

“MILESTONE: Grayscale #Ethereum Trust has just hit $1 billion AUM! As the first publicly-quoted $ETH investment product in the US and the second #digitalcurrency investment product to become an SEC reporting company, we’re proud of the milestones so far.”

Ethereum is set to continue higher as well due to the introduction of ETH2 staking, which incentivizes investors to take positions in the cryptocurrency. ETH2 users can earn a regular yield paid in ETH by running a validator node, which replaces miners on this new chain.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin Fractal Suggests Ethereum Will Soon See Large Leg Higher



Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: BitcoinEthereumFractalHigherLargeLegSuggests
Next Post
On-chain network activity shows Litecoin (LTC) is preparing for a breakout

On-chain network activity shows Litecoin (LTC) is preparing for a breakout

Coinbase Brokered MicroStrategy’s $425M Bitcoin Purchase, Companies Reveal

Coinbase Brokered MicroStrategy's $425M Bitcoin Purchase, Companies Reveal

Please login to join discussion

Don't Miss

Bitcoin Weekly Outlook: Yields Continue to Pressure BTC/USD Downwards
Bitcoin

Bitcoin Weekly Outlook: Yields Continue to Pressure BTC/USD Downwards

by Lascena Cryptocurrency News Education
March 8, 2021
0

Key Bitcoin Takeaways: Bitcoin posts strong recovery during the weekend session but looks weaker at the new week’s beginning....

Read more
CHAINLINK – MOST CRITICAL CRYPTO ON ETHEREUM  – (explained 2020)

CHAINLINK – MOST CRITICAL CRYPTO ON ETHEREUM – (explained 2020)

March 8, 2021
Trump Test Positive “It’s All FAKE News!” Prediction On Crypto & Election (Ripple XRP News)

Trump Test Positive “It’s All FAKE News!” Prediction On Crypto & Election (Ripple XRP News)

March 8, 2021
What is TrustSwap (SWAP) Cryptocurrency? | Best Cryptocurrency to Invest in 2020 | 100x Potential?!

What is TrustSwap (SWAP) Cryptocurrency? | Best Cryptocurrency to Invest in 2020 | 100x Potential?!

March 8, 2021
The BEST Bitcoin BTC Miner EVER | Bitmain Antminer S17+ Plus Review

The BEST Bitcoin BTC Miner EVER | Bitmain Antminer S17+ Plus Review

March 7, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$50,277.001.35%
  • ethereumEthereum(ETH)$1,723.333.33%
  • tetherTether(USDT)$1.010.44%
  • cardanoCardano(ADA)$1.141.31%
  • Binance CoinBinance Coin(BNB)$235.683.71%
  • PolkadotPolkadot(DOT)$34.501.48%
  • rippleXRP(XRP)$0.4658570.28%
  • UniswapUniswap(UNI)$33.539.65%
  • litecoinLitecoin(LTC)$187.732.09%
  • chainlinkChainlink(LINK)$29.142.02%