Will Ethereum Surge past $ 300 when Bitcoin finally corrects?

For most of the last month, Bitcoin has been relentlessly chomping into the altar market as dominance increased to a sixteen month high of 60 percent. An inevitable cooling and recall of Bitcoin is expected, but will traders put their profits back in fiat or choose low-cost options like Ethereum?

Ethereum Prizes Sill On The Floor

Ethereum rallies at the moment, but the long-term picture still shows that ETH is depressed in mid-2017 prices, down 84 percent from its all-time high of $ 1400. Bitcoin almost doubled in six weeks and is only 60 percent of the top price.

Ethereum shot at $ 400 in June 2017 and then again in early September, but spent a lot of time swinging around $ 200 to $ 300. It only really took effect in December of that year in a short-lived rally that was coming down again in mid-January.

Since then, Ethereum has nosedived nearly 94 percent to a low of $ 85 in mid-December 201[ads1]8. It has shown limited evidence of recovery but has been blitzed by the performance of others such as Litecoin and Binance Coin. It can all be changed when Bitcoin dishes and retailers are looking for cheaper options. Crypto Trader goes by moniker "CryptoFibonacci" wrote;

"It makes sense, with the money someone has done on BTC, they will of course rotate back to someone turned up Alts they like. The key here is to see what is responding well and what doesn't. Many of these Alts will do not be around in a year, so be careful with the IMO. "

Ethereum would be a good choice since it still has great potential and massive upgrades slated for later this year. Add to that low price and we could see a move up to $ 300 pretty quickly. Other traders like & # 39; The Crypto Dog & # 39; wrote "I am currently long $ ETH / $ USD. #Etter room for the time of resistance, if it can break this area high, I think we will soon see $ 240. Next goal after that: $ 300."

Ethereum is currently on resistance just over $ 200, but can go further if it can be destroyed due to a short-term output from Bitcoin. & # 39; Crypto Fib & # 39; added;

"Get close to great resistance. But it also forms a rising triangle. Expects a return here soon, but then to break out higher after."

At the time of writing, Ethereum had one of its best days in 2019 with a 10 percent increase from just over $ 200 to $ 220, according to Daily volume is at a solid $ 13 billion and ETH market value has reached $ 23 billion, the highest for seven months. Ethereum slowly pulls itself off the floor, but it is a long way to go yet to the world's second largest crypt.

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