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Wednesday

02 December 2020

Ethereum Explodes to $570 as Capital Cycles From Bitcoin Into Altcoins

Ethereum Explodes to $570 as Capital Cycles From Bitcoin Into Altcoins


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With Ethereum setting new year-to-date highs as Bitcoin stagnates and attempts to consolidate, this seems to suggest that capital is cycling from BTC into altcoins.

While analysts are hopeful that Ethereum will continue to explode higher, one analyst recently noted that order book data shows that the coin is facing down key selling pressure.

Until then, participation in Ethereum is unavoidably in part a prediction that the roadmap is a good one and that once this upgrading process ends we actually will get to a place where the network is efficient and stable and powerful and capable of being the base of significant parts of the global economy.”

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