The rise of Bitcoin and the decline it is experiencing today has turned the eyes to BTC from other cryptocurrencies. Bitcoin’s market dominance has risen to 62% and altcoin investors are literally bleeding. Ran NeuNer, one of the famous names of CNBC, announced the crypto currency that will rise in the period when Bitcoin is stagnating.
First BTC runs and sucks the blood out of Alts. Then ETH follows, then its Alt time. Start placing your chips!
— Ran Neuner (@cryptomanran) October 28, 2020
The famous server, one of the oldest and most well-known names in the industry, actually summarized the current situation. Stating that Bitcoin was rising first and altcoins were “sucking blood”, NeuNer explained that the rise of Ethereum followed this. Stating that it is time for altcoins to rise after the Ethereum rise, the analyst hinted that it is necessary to prepare for it already.
Is Ethereum Next Cryptocurrency To Boost?
In fact, when looking at the rally in 2019, it seems that this statement is quite consistent. BTC, which entered 2019 at $ 3,000, rose above $ 12,000 towards the third quarter. The stopping of BTC, which reached the annual record with $ 14,000, first mobilized Ethereum. During the Ethereum price rally, almost all cryptocurrencies were on the rise.
The leading cryptocurrency was trading at $ 13,152 and fell sharply from $ 13,700 as per press time. This points to the beginning of the period of consolidation that Bitcoin goes through at the end of each rally, according to some experts. Looking at the statements of NeuNer, the next rally may be Ethereum traded at $ 384. Step by step approach of Ethereum 2.0 could fuel this rally.
For this, the resistance point at $ 420 pointed out by many analysts must be broken. Of course, Bitcoin can always make an opposite corner to investors. Famous analyst Max Keiser contributed to this idea by claiming that the price of Bitcoin can go up to $ 28,000.