Altcoins have once again started to fall off, with Ethereum and XRP both plunging amid Bitcoin’s latest bout of volatility. According to an analyst going by Mac, it may soon get worse for the altcoin class.<\/p>\n
He remarked in a recent tweet that he expects for both altcoins as a class and Ethereum to fall by 20% against Bitcoin, noting that the ETH\/BTC pair is currently far above any semblance of support.<\/p>\n
https:\/\/twitter.com\/MacnBTC\/status\/97854208<\/p>\n
It isn’t only Mac who is expecting Ethereum \u2014 and altcoins in general \u2014 to bleed out in the coming months.<\/p>\n
A trader going by Velvet remarked that Bitcoin\u2019s dominance metric is likely to hit 78% \u2014 some 10% higher than current levels \u2014 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<\/a> \u2014 one that will bring it to BTC \u2014 meaning that capital flows towards altcoins is likely going to slow at a dramatic pace, setting the stage for a surge in BTC dominance.<\/p>\n While there is a harrowing price outlook for Ethereum from a technical analysis perspective, the cryptocurrency’s fundamentals are arguably as bullish as ever.<\/p>\n Fidelity Investments\u2019 cryptocurrency branch,\u00a0Fidelity Digital Assets<\/a>, was recently reported by industry outlet The Block to have shown intentions to launch support for Ethereum in 2020. Should Fidelity live up to its promises, institutional traders across the world may soon have access to Wall Street-grade custody and trade execution services for Ethereum, potentially acting as a catalyst for greater levels of institutional investment.<\/p>\nRelated Reading: Ethereum Angst Mounts as New Year\u2019s Day Upgrade Nears<\/a><\/h6>\n
Ethereum\u2019s Strong Fundamental Trend<\/strong><\/h2>\n
Related Reading: VC: New 10-Year Phase in Crypto to Begin in 2020: What it Means For Bitcoin, Ethereum, Blockchain<\/a><\/h6>\n