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

Ether (ETH) broke a critical price point in relation to Bitcoin (BTC), signaling that altcoins may be about to make big gains.

I would bet on Ether “all day” – Winklevoss

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

After remaining weak throughout December, Ether recovered in the early 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 breaking point, and turning to support indicates “strength and continuation” of a bullish resurgence.

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

“I believe we are seeing money moving from BTC to altcoins and that Ether has hit rock bottom in the BTC pair,” explained Van de Poppe. “So, probably a continuation of a season this quarter with the end of Bitcoin’s dominance.” He added:

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

To date, ETH / USD was approaching its own reference price levels, targeting $ 1,000 based on 21% daily gains. The last time the pair was traded in four digits was in January 2018.

“$ ETH was the best performing asset (up to 450%) in 2020 and is still below its historic record,” Cameron Winklevoss, businessman and cofounder of the Gemini exchange, added on twitter.

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

Is Altseason here, at least?

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