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Ethereum vs Bitcoin: Why Now Might Be the Time for Altcoins

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Ethereum Vs Bitcoin: Why Now Might Be The Time For Altcoins

Ethereum vs Bitcoin- Should You Be Watching Altcoins Now?

Ethereum vs Bitcoin– Ethereum’s value against Bitcoin has reached its lowest point since mid-2020, sparking speculation among traders about the possibility of shifting investments to higher-performing altcoins. According to economist and crypto trader Alex Kruger, it might be a good time to consider reallocating funds.

Kruger suggested in a March 12 X post, “If still stuck on ETH, it is likely a good time to dump it to buy a higher beta altcoin.” He added that while a market downturn could cause losses in both assets, an upward movement might significantly favor altcoins over Bitcoin. The ETH/BTC ratio, which measures Ethereum’s strength against Bitcoin, has dipped to 0.02281, marking its lowest point in nearly five years, based on TradingView data.

Ethereum Vs Bitcoin: Why Now Might Be The Time For Altcoins

Currently, Bitcoin is trading at $83,667, staying below the $100,000 mark since early February. Meanwhile, Ethereum (ETH) is hovering around $1,907, having stayed below $2,000 since March 10. These price levels are raising concerns among investors looking for growth opportunities.

Crypto Sentiment and Market Trends

The Crypto Fear & Greed Index has moved to a “Fear” score of 45, up 11 points from the previous day, indicating an anxious market sentiment. Some traders view the declining ETH/BTC ratio as a potential signal for the start of an altcoin season. As Benjamin Cowen noted, altcoin season may only begin when the ETH/BTC ratio bottoms out and starts trending upwards.

However, other indicators suggest Bitcoin might continue to dominate. The Altcoin Season Index by CoinMarketCap has registered a score of 13/100, signaling that Bitcoin could hold its market dominance in the short term.

Ethereum Vs Bitcoin: Why Now Might Be The Time For Altcoins

Bitcoin’s dominance currently stands at 62.15%, showing little signs of altcoins surpassing it in the near future. Even during Ethereum’s all-time high in November 2021, when ETH reached $4,800, Bitcoin’s dominance was approximately 42%, further reinforcing the current dominance trend.

While Ethereum’s market performance shows signs of slowing down against Bitcoin, traders are keeping a close eye on these shifts in the ETH/BTC ratio, as they may influence broader market movements in the coming weeks.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.

Ethereum Vs Bitcoin: Why Now Might Be The Time For Altcoins
Written by
sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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