How Close Are We to the Next Altcoin Run?
ETHBTC has typically been a good proxy for predicting altcoin runs. The setup is looking promising again. Low volatility shows prices forming a base. And with cycle indicators at lows this may be a good time to start buying Ethereum and solid projects built on top of it.
From a fundamental point of view we are still waiting for Ethereum to move from proof-of-work to proof-of-stake. When that is announced expect prices to move rapidly. Of course, nothing is guaranteed and we could see a breakdown of this chart pattern. A weekly close above 0.04 should be a good sign that the bulls have regained control.
I remain optimistic and long on this idea but we'll have to wait and see to find out.
From a fundamental point of view we are still waiting for Ethereum to move from proof-of-work to proof-of-stake. When that is announced expect prices to move rapidly. Of course, nothing is guaranteed and we could see a breakdown of this chart pattern. A weekly close above 0.04 should be a good sign that the bulls have regained control.
I remain optimistic and long on this idea but we'll have to wait and see to find out.
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