While Bitcoin’s price is exploding due to massive amounts of institutional money that are pouring into the crypto space, Ethereum is also extremely bullish these days.
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,216.32. ETH is up by more than 65% in the past week.
Ethereum is on the verge of another price rally
There are various optimistic predictions about the most important coins out there, and now an important crypto analyst just predicted that ETH is on the verge of another massive price rally.
The online publication the Daily Hodl notes that the analyst Capo just updated his altcoins predictions, and he predicted some booming moves upwards.
He said that for ETH, “sky’s the limit.”
— il Capo Of Crypto (@CryptoCapo_) January 6, 2021
A few days ago, he said that Ethereum has marked a new floor price and declared the start of alt season is underway.
“Second bold call of the year: ETH never again below $800…” he said.
He continued and explained that “The logic behind [alt season] this is that a large part of the profits generated in BTC flows into altcoins. Also, people are more comfortable investing in riskier assets as the market situation is much better, and the general sentiment is bullish. Risk tolerance is higher.”
Capo says that action on the Ethereum to Bitcoin pair (ETH/BTC), which can be a particularly crucial indicator of altseason, has confirmed that an altcoin rally is afoot.
We suggest that you check out the complete article in order to learn what more he had to say about the price of ETH and more altcoins.
ETH to break new ATH
A few days ago, we were revealing that an important crypto strategist who built his reputation in the industry by pinpointing accurately the Bitcoin bear marker bottom, now is saying that ETH is about to see new ATH.
When will this happen? Well, according to him, this will be happening the next month.