Recent advancements in Ethereum’s price and the strengthening of the ETH/BTC ratio have reignited a renewed appetite for risk within the cryptocurrency market. Michael van de Poppe, co-founder of MN Trading Capital, has projected a substantial surge in altcoins, estimating potential gains ranging from 200% to 500% by October. Over the past 24 hours, Ethereum’s price has risen by more than 6%, reaching approximately $3,854. Concurrently, the ETH/BTC ratio has climbed 38.5% over the last month, signaling Ethereum’s increasing strength relative to Bitcoin.
Given Ethereum’s growing market dominance and heightened investor interest, the market appears poised for an altseason, particularly in the fourth quarter. Trader Case Awbi identifies limited Ethereum supply on exchanges alongside rising institutional interest as key indicators of sustained bullish momentum. Nonetheless, some analysts urge caution, noting that historically, the third quarter has been a period of relative weakness for Ethereum, suggesting that investors should approach with prudence.
Crypto trader Ash Crypto highlights that August and September traditionally tend to be weaker months for Ethereum, while analyst Muneeb characterizes the current rally as potentially temporary, cautioning about a possible cooling-off phase ahead. Should Ethereum’s price surpass the $4,000 mark, further short position liquidations may trigger additional upward momentum, potentially driving the market even higher.
Long-term bullish outlooks remain prevalent among some experts. For instance, analyst Wolf echoes optimism that Ethereum could reach $16,000, aligning with predictions made by Tom Lee, founder of Fundstrat. This scenario envisions sharp and significant price appreciation following periods of volatility.
In summary, Ethereum’s recent rally has fostered bullish sentiment across the crypto landscape and is expected to support notable gains in altcoins over the coming months. However, given historical trends and market dynamics, investors are advised to remain vigilant and exercise measured caution in their investment strategies.
Source: binance
