ChainCatcher news, according to Cointelegraph, the ETH/BTC ratio has dropped to the lowest level since mid-2020. Economist and cryptocurrency trader Alex Kruger said: “If you still hold ETH, now may be a good time to switch to high beta altcoins. If the market falls, losses in both scenarios may be comparable, but if the market pumps, you may get significant excess returns, and then you can switch back to BTC.”
Many encryption industry professionals see the ETH/BTC ratio ‘bottoming out’ as a signal that the AltCoin season may be starting. Benjamin Cowen, founder of Into The Cryptoverse, says that to usher in the AltCoin season, ‘ETH/BTC needs to bottom out and start an upward trend’.
However, other indicators suggest that the Altcoin season may not be coming soon, and Bitcoin may continue to maintain market share in the short term. The Altcoin season index of CoinMarketCap shows a score of 13/100, leaning more towards the Bitcoin season. Trader Hansolar stated that this year will be the ‘Bitcoin season’ throughout. According to TradingView data, Bitcoin’s current market dominance is 62.15%, while Ethereum reached a historical high of $4,800 in November 2021, with Bitcoin’s market dominance at about 42%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
