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//twitter.com/MacnBTC/status/97854208A trader going by Velvet remarked that Bitcoin’s dominance metric is likely to hit 78% — some 10% higher than current levels — by March, just four-odd months away. He attributed this expectation to the fact that BTC is showing signs it is about to begin its next leg higher — one that will bring it to BTC — meaning that capital flows towards altcoins is likely going to slow at a dramatic pace, setting the stage for a surge in BTC dominance.
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Ethereum’s Strong Fundamental Trend
While there is a harrowing price outlook for Ethereum from a technical analysis perspective, the cryptocurrency’s fundamentals are arguably as bullish as ever.Related Reading: VC: New 10-Year Phase in Crypto to Begin in 2020: What it Means For Bitcoin, Ethereum, Blockchain
While it is unlikely that the rollout will be smooth, developers and commentators in the cryptocurrency space believe that once Serenity is fully activated, Ethereum will cast aside any scaling concerns, allowing for a new wave of adoption to grace the blockchain, potentially acting as a monumental positive demand shift in the market of ETH.Per previous reports from NewsBTC, a trader remarked that the ETH/BTC pair is setting up for an upward breakout in the coming months, drawing attention to two key technical factors: a colossal falling wedge that has been in place for over a year now, coupled with a 15-month-long bullish divergence between the price action and the Moving Average Convergence Divergence (MACD).
This, he claimed, will support an Ethereum against Bitcoin rally of over 100% by the end of 2021.ETHBTC. Failed to break diagonal resistance.
— Wolf 🐺 (@IamCryptoWolf)
Short term not looking good unless we manage to break diagonal painting that iHS on the weekly RSI.
Long term i'm a mega bull.
– Massive FW
– 15 months bullish div on the MACD
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