An analyst of Crypto says Ether continued the strength, indicating that AltCoins could gear up for an explosive rally up to 500% in early October.
However, not all traders are assured that Ether (ETH) will not be the current uptrend.
AltCoins can start getting benefits by October
MN Trading Capital co-founder Michael Van de Pope Said In an X post on Thursday that it is “all-in” on Altcoins, there can be 200-500% in the next 2-4 months. ”
“Recent steps Eth is the first step for hunger at a higher risk, ”he said.
Ether has increased by 6.09% in the last 24 hours, to trade at $ 3,854 at the time of publication, According To Nansen.
Eth/BTC ratio, which measures the relative power of ether against bitcoin (BTC), is 38.53% in the last 30 days, According For tradingview.
Many market participants experience the rising price of ether as a major indicator for upcoming AltCoin rallies, indicating changes in investor’s appetite towards high -risk assets beyond bitcoin.
Will Ether go against the tendency of a weak Q3?
Crypto trader ash crypto Wags Traders should not ignore the historically weak performance of ether during this time of the year, as “generally there are months of recession for crypto, so I will be careful faster.”
The third quarter historically has been the weakest performance of Ether every year since 2016, which provides an average return of only 6.48%, According To coinglass.
Some market participants have doubts about the continuity of the rally. Crypto trader munib Said This is, in his opinion, “This leg is done for now.”
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A step For $ 4,000, representing the 3.7% spike from the current price of Eth, will put around $ 817 million in the Eth short posts at risk of liquidation.
Others are suggesting that history will not repeat themselves this time. Crypto trader cass abbe Said In an X post on Thursday, “This is the right time for ETH, pointing to the fall in the supply in the Crypto exchanges and the growing institutional interest.”
Meanwhile, Crypto analyst Wolf Said “If no one acts”, if Fumed’s Tom Lee’s recent ether predicts a prediction of $ 16,000.
“Volatility, mistrust, then vertical,” said Wolf.
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There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
