HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ethereum Rallies To The End Of The Year As Bitcoin Stalls, What’s In Store In 2020?

Altcoins 2019/12/30 10:35 by John Kiguru
Ethereum Rallies To The End Of The Year As Bitcoin Stalls, What's In Store In 2020?

In the last 24 hours, Ethereum has gained around 5%. This solid gain has been the best among the top 20 cryptocurrencies by market cap. More importantly, it comes when Bitcoin has stalled at the $7,400 position.

The positive price action from Ethereum shows that the altcoin could climb above $140 in the next few days. Bitcoin, on the other hand, is at a critical point where climbing above $7,500 means further upward price action while a slip could see a retest of the $7,100 support.

Although Bitcoin recording little action has not been welcomed, it is an ideal opportunity for altcoins. Traders will look to altcoins that are recording substantial price action like Ethereum and take higher positions. This will see their price action accelerate and Bitcoin market dominance shaken.

At current levels, Bitcoin is down by 46% from its year high. With 2019 coming to a close in less than 48 hours, many experts have taken a bullish position on where prices are headed in the new year. For many like Bitcoin investor Mike Novogratz, Bitcoin is set to top its 2019 year high. Most of these predictions are based on growing adoption, upcoming reward halving, and world economies slowing.

Is Ethereum (ETH) Set For Gains In 2020?

For Bitcoin, the stage looks all set for big gains. But will Ethereum and all other top altcoins at large enjoy great gains in the coming year? As we have seen in 2019, it is possible for Bitcoin to rally and leave behind other altcoins, sometimes in fact, it is at the expense of the altcoins. Will we see the same in 2020 or will altcoins catch up and possibly perform better than Bitcoin?

A huge turnaround is needed to see altcoins begin performing equally or better than Bitcoin. Most, including Ethereum, are trading below long term supports. Traders are yet to take any long positions as they don’t see most rallying to reach all-time highs anytime soon.

Ethereum Rallies To The End Of The Year As Bitcoin Stalls, What's In Store In 2020?Ethereum Chart By Coin360

Fortunately, this could easily change in the first few months of the new year. Price action is mostly driven by project developments and adoption. For Ethereum, for instance, the launch of Ethereum 2.0 on Jan 1st could propel prices up.

For many of the projects, 2020 needs to be about project developments and adoption. In the long run, this is what counts and ensures the success of a cryptocurrency.

The post Ethereum Rallies To The End Of The Year As Bitcoin Stalls, What’s In Store In 2020? appeared first on ZyCrypto.

0 Like(s)



You should also read...

Altcoins 19/11/19 19:00 by Tony Spilotro
Altcoin Volatility Rising, But Alt Season Won’t Arrive Until Bitcoin Volume Returns
The crypto market has reached a period of stagnation. Volume is at extreme lows, suggesting interest in the emerging class of Bitcoin and altcoin assets may be waning. Volatility has begun to increase...
Read More
Altcoins 05/12/19 00:00 by Tony Spilotro
Ethereum Fractal Suggests Altcoins Could Soon Outperform Bitcoin
Throughout 2019, altcoins like Ethereum, Ripple, and others, have grossly underperformed next to Bitcoin, sans a few outliers like Chainlink, or Binance Coin, who had breakout years themselves in 2019...
Read More
Bitcoin 27/05/20 20:54 by John Kiguru
Bitcoin’s $9k Bounce Could Falter if Bulls Fail to Break This Price Level
Bitcoin bulls have once again defended the $8,800 support. After doing so last week, there was an expectation that another run at it would end with Bitcoin breaking beneath. The bull’s effor...
Read More
Altcoins 08/11/20 18:46 by Brenda Ngari
Ethereum’s Active Addresses Suggest ETH Is Closer to $500 Than We Think
Bitcoin was the center of attention for a couple of days earlier this week as it rallied to $15,955, having cleared the strong resistance from 2019. Following the benchmark crypto’s rally, experts ...
Read More
Other 23/11/20 02:00 by Cole Petersen
Chainlink Likely to See an Impulse Higher as Bulls Break Key Range
Chainlink has seen a strong push higher over the past few days, with its ongoing rise coming about in tandem with that seen by Bitcoin and Ethereum This market-wide uptrend has proven to be highly be...
Read More