- Ethereum outperforms BTC and prepares to lead the altcoin rotation.
- Analyst notices several bullish indicators for ETH and says altcoin will follow it.
- Crypto traders and investors prepare for an altcoin mania phase.
The crypto market grows more bullish every day in times of a bull market. According to several reputed crypto analysts, the crypto market is in the middle of a highly volatile bear market where parabolic pumps are lying behind massive price breakouts. At the moment all eyes are on ETH as a shift comes to play. As Ethereum outperforms Bitcoin, and prepares to lead the altcoin rotation phase, traders are gearing up for altcoin mania.
Ethereum Outperforms Bitcoin and Prepares to Lead Altcoin Rotation
The pioneer altcoin Ethereum is currently holding all interest in the crypto market. As altseason’s arrival inches closer, expectations for altcoins to hit much higher ATH prices take over. At the moment, anticipation is high for ETH to reclaim the $4,000 price range, for this will be the greatest signal for altcoins to surge. Once ETH beats the $4,000 price range, it can enter the price discovery phase.
The wait has been long for ETH to enter the price discovery phase, after all Ethereum only began to pump this year despite the bull cycle having begun last year, allowing BTC to set a string of new ATHs. The price of ETH went on the bottom in Q1 when altseason arrival was expected. Instead the entire quarter lost to a prolonged correction phase, allowing BTC to settle into a much healthier market.
In Q2, the price of ETH went to shoot towards the $3,700 price target, and now, in Q3, ETH just reclaimed the $3,900 price region. Thus, tensions are high as ETH tries to break past the $4,000 boss price level for the 8th time after 7 rejections. This region is under extreme pressure, but analysts believe the time has come for ETH price to enter price discovery range soon, meaning prices above the $11,000 price range is highly likely for ETH.
Traders and Investors Prepare for Altcoin Mania
At the moment, seasoned analysts are trying to figure out where in the 4-year bull cycle blueprint the crypto market is presently at. One analyst believes that despite the altseason delay, the same blueprint is still very much in play. The analyst also states that Ethereum is doing what it does in every blue cycle in the same clockwork pattern as the last bull cycle before the ongoing one.
As we can see from the post above, the ETH pattern is identified as the pioneer altcoin asset first outperforming BTC, which it has already done. Then next, ETH will lead the altcoin rotation movies until it finally ignites the altcoin mania phase. The analyst concludes, saying that where ETH goes, altcoins will follow, meaning that huge and significantly high price pumps will come for the altcoin market soon.