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Ethereum surge past its previous ATH of $2,036 today after spending most of last month in consolidation. A key resistance level for Bitcoin was breached by the second-largest cryptocurrency by market cap, which has soar past its previous all-time high. ETH was facing outsized criticism over its mounting gas fee issue, but by adding EIP-1559 to Berlin Hardfork and and eliminating its high gas fee issue, it was sure to boost the prospects for Eth.
Bitcoin proponents believe the mounting stability issue will continue to push the ETH/BTC pair further downward. Yet ETH/BTC bottomed when several Bitcoin enthusiasts talked up the potential doom for Ether. Perhaps the most synchronistic event was the Death of ETH party hosted in BTC clubhouse at the exact same time ETH/BTC bottomed.
Is Anthon on this team?
I still can't get over the fact that a BTC maximalist clubhouse room called 'The Death of ETH party' was hosted at the *exact* same time that ETH/BTC bottomed.
— Anthon? Sassano | sassal.eth ?? (@sassal0x) April 2, 2021
During Amidst declining Bitcoin dominance, would Ethereum lead the alt-season?The Bitcoin dominance appears to be on the decline, falling below 60% and creating an opportunity for altcoins to flourish further this bull. Binance Smart Chain was one of the biggest gainers and was processing double the volume of the Ethereum network at its peak. A growing number of Wall Street investors have committed to buying Bitcoin, chopping their exposure to gold in order to purchase Bitcoin. Many altcoins including ETH, BNB, ADA, and others have achieved new highs recently, as digital assets like BTC lose their dominance.
It is appropriate to observe the following.
It rose past its previous ATH of $2,036 today after struggling for most of the last month after consolidating most of the year. Coinbase, the second-largest cryptocurrency by market cap, surpassed its previous all-time high (ATH) against Bitcoin, after breaching key resistance levels.
Current BTC Dominance: 57.76% #Bitcoin #Altcoin #Cryptocurrency
— BTC Dominance (@btcdominance) April 2, 2021
Bitcoin has dominated the longest part of this bull season which started in the last quarter of 2020 more than tripling its 2017 ATH of $20k. ETH/BTC bottomed at $0.03 and rose to $0.034 levels.
Many altcoins including ETH, BNB, ADA, and few others have registered new ATH but now with the BTC dominance on the decline, the signs of a full-fledged alt season look more prominent than ever.
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