Altseason Resumes, Eyes on ETHBTC as Ethereum Buyers aim at 0.12 BTC
Traders are confident, expecting the crypto market to soar higher judging from price action of the ETH/BTC chart. In their assessment, the ETH price is highly likely to break higher, closing above important resistance levels in what would be a shift placing ETH on top of BTC for a protracted period. Ethereum permabulls forecast ETH prices to wipe out gains of the last few years as bulls drive ETH towards 0.12 BTC.
The tide is shifting and this time, ETH bulls stand to be the main beneficiary. After superb gains of last year, Bitcoin is now the world’s most valuable digital asset. However, analysts assert that ETH is undervalued and could tick higher, citing several developments including EIP-1559, Layer-2 migration, and shift to Proof-of-Stake. Projections place the overall ETH issuance rate to drop below one percent in the next few years.
Impact on the ETH Price:
Bullish. Ethereum fundamentals work to drive investor confidence that ETH would be much more than “sound” money, toppling BTC over the long haul.
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