Bitcoin Forum

Ethereum is at all time highs. BNB is over all time high. as soon as Ethereum breaks ATH say $4500 other alts will boom.

Seeing ETH gain interest and its price surge, we must first examine the underlying cause, and why is ETH rising? What I've observed is likely the effect of clear regulations on ETH staking, which has led to institutions continuing to purchase large amounts of ETH. If we look closely at several ETH staking protocols, such as LIDO, PENDLE, and others, we can also see an increase in ETH's TVL.

If ETH can reach a new all-time high this month or next, there's a good chance we'll be able to capitalize on Altseason.

I have to admit that I'm one of those who didn't think that ETH will break it's previous all time high. Because in this bull run, we only have seen some meme coins and the Bitcoin obviously who are breaking ATH after ATH while ETH is stagnant and just trading sideways in the last couple of years. That's why I was surprised to see it hitting $4k and going strong.

And so with that, I think the last 3 months will be huge for ETH and it might hit $5k or maybe $6k as the new all time high. For those who have been holding, for sure they are going to be very happy to see and that their patience have paid off.

True, altseason is going to come so congrats to those bag holders. Hopefully, the gas fee will not spike due to the recent price surge.

The Ethereum ATH figure you quoted is not accurate, the true ATH could be averaged to $4,860, so it still has a long way to go to hit that level once more.

Indeed, Ethereum did better in recent months, but this may not necessarily mean it can sustain the tempo. It did similarly to what you expected when it edged higher than the March 2024 high of $4,092 in December when it hit $4,110. What did it do? It sold for several months before the current peak of $4,247. Ethereum has delayed too much, and the current buying is not a certainty of an altcoin season, but just following what Bitcoin pattern. You can check the daily chart.

Let's hope that you are correct. We have been waiting for the alt season to come. There are days that we lose hope already as it seems that ETH  can't get over that $2k price range. But in the last couple of months, it shows some resiliency and then the price suddenly goes up and so with that the next target will be $4k-$5k, in my opinion.

And just like what you said, if we breach that price then other alts will follow and then maybe we will see some biggest gain in this bull run. Not sure about meme coins on how huge they jump. But I think there could be alts that can get to as high as x500 in returns.

The reason why many people continue to repeat this is because they have deep bags in many useless altcoins. There is nothing to indicate that we will have an altcoin season like before. Sure some things will pump, but many won't.

Don't be surprised that other altcoins will not boom as soon as ETH gets to $4,500 because most of the altcoins are just totally dependent on the capacity of the project owners to also influence their project so that it can gain recognition and follow the trend but when they are not even doing anything to make the project get attention there's no way it will boom, don't be surprised that only a few better altcoins will pump when the market becomes more bullish.

The price of ETH and BNB is increasing at a very good rate and seeing their price increase, it seems that the time has come for Altcoins. Now, gradually, the Alts will start doing well and for this, the price of Bitcoin will remain stable and sometimes increase a little. The market is coming in this pattern now. So far, ETH and BNB are doing well, but other potential coins are also going up a bit. ETH has hit $4271 and will hit $4500 very quickly. It seems that we can see something like that within 24 hours. The quick price increase of ETH is indicating this.

Normally am not a fan of altcoins, but I have to say this yesterday when I opened my bybit app using my mobile phone to trade  some of my usdt using peer to peer to trade so that I can have some cash in Naira to go drink some beer then I noticed a change, normally when i open my bybit app bitcoin usually  be at the top before Ethereum and then other altcoins will follow, but yesterday Ethereum was on top while bitcoin was down then other altcoins followed, so I took a look at Ethereum price and discovered that Ethereum is $4000k and it was still rising till today, as the time am making this post Ethereum is $4259.00. but I noticed another thing that Ethereum is rising, but bitcoin who is father is not rising, so I begin to ask myself is this the altcoins season people have been talking about? And from what the OP had said so far am beginning to believe that the altcoins season is here, but that's by the way  let's wait for Ethereum to heat $4500k if other altcoins will boom as the OP had said.

To make matters worse there exist many more altcoins than ever, most of which are useless and should never have been created. I am not only talking about the meme tokens on Solana, I am talking about many layer 1 and layer 2 projects too. Eventually more and more will start going bankrupt and some people may wake up only after losing money.

Most altcoins are not performing good, and those that existed in the last cycle are often down 90%. So no I don't see the effect that you are talking about. A few days of green activity after being down more than 90% is useless and does not show anything.

I do not think it is merely "inherent uselessness" of the coin or token that counts.

Rather, I think the "inherent" uselessness of the demographic/community (culture) it attracts is massively important.

Bear in mind that money is basically an I.O.U. (I owe you), its value resting in the reliability with which its issuer(s) redeem it.

There need be nothing red-flag-ish about "deep bags" if culturally strongly associated with "deep buy-sides".

On the other hand even trivially shallow "bags" are not much help if held by a demographic/community/culture that does not build strong deep buy-sides.

The closer price gets to the bottom of the span of prices supported by the trading venue the more "dumping" one typically can expect, so building the buy-side more strong the deeper one builds it, at least toward the very bottom, is good to see.

Partly because of the possible-myth of alternating bitcoin seasons and altcoin seasons it is also very nice to see bitcoin as one side of the trading-pair, because a deep strong buy-side built stronger the lower it goes is especially nice when built out of bitcoins; being built out of bitcoins builds-in an "automatic" upwards price-pressure as the "season" swings back toward bitcoin, the already in place buy-side appearing higher and higher as the bitcoin it is built from goes up and up in value.


So look for the coins whose users build strong strong buy-sides, no matter how deep the "bags" dumpers might hold a buy-side can be built sufficient to gobble up their "bags" and keep on building...


-MarkM-

Experts and analysts say were in an "altcoin season" if, like, at least 75% of the top 50 altcoins are outshining Bitcoin for a good stretch - usually around three months or so.  Supposedly, you will also see Bitcoins dominance shrinking.  But honestly? Im just not seeing it. Feels like folks are jumping the gun calling it alt season already. Maybe Im missing something, but yeah, not convinced.

Ethereum chart looks bullish, and most probably what you said will happen very soon. Yet we must need more patience consider new ATH of ethereum will be delayed for days or weeks as BTC.DOM is retesting again. Once BTC.D can break its support, then Ethereum will spike again to break new ATH.

Almost the same patter in every bull season. BTC pumped first, then ETH followed by big cap of coins in the market.

eth is extremely low compared to btc performance so its got a long way to go which is good news for the fomo

I have no idea what kind of altcoin season we'll experience, but ETH's recent rapid rise is exciting. Everything in crypto is cyclical; people who sold their Ethereum a few days ago regretted it, and I've even heard of people buying it back at current prices. Let's see how high Ethereum will rise this cycle even $4,500 would be a good price for now, as other altcoins are already feeling a bit overwhelmed.

Well I do think if you hodl alt coins you will make alot of profit in this month. In last 7 days Bitcoin is up more then 6 percent. But alt coins are up more then this.
Ethereum is up more then 21 percent, Ripple is up more then 8 percent, BNB is up more then 9 percent, Solana more then 13 percent, and Cardano more then 12 percent. Bitcoin dominance dropped 3.22 percent and alt coins gained 15.44 percent marketcpap growth.
https://www.ainvest.com/news/bitcoin-news-today-bitcoin-dominance-drops-3-22-altcoins-gain-15-44-market-cap-growth-2508/

I appreciate your post but it is a bit missing the point, you kind of over analyzed this. What is usually meant with deep bags is people who invested in yet another revolutionary innovative bullshit coin or token that was meant to change the world, but in the end it was just as useless as many of them. A simple tell is when people exaggerate the benefits of a coin or token but dismiss any legit criticism of it. An example would be Ethereum bagholders. They will dismiss any concerns that it is quite centralized, both in governance and on blockchain terms.

Double would be a minimum, so these people that expect a season before then are crazy. $8000 or $9000 ETH would maybe indicate something.

Maybe we should wait a little bito more to be sure if we are truly in the altcoins season or only ethereum is the one making it with nice performance, for a long time now, we have been expecting this from ethereum, but sometimes things doesn't seem to work from the direction we are viewing it form, that is why it is always important that we invest in a coin that has future utility and a promising edge towards performing more better over time.

Part of my point is that even a bullshit coin or token etc that was just as useless as many of them can become useful simply by being useable for transacting and trading and being adopted for serious use, such as by a Galactic Milieu (https://MakeMoney.Knotwork.com/) Civilisation or Corp as its currency, in other words in effect as its IOUs since money is basically IOUs.

The strong buy side part of it is basically the visible willingness to and capability of "redeeming" ("honouring") those IOUs.

One thing I like about Stellar, and the original Ripple whose name and concept got bought up to make the now high market cap XRP ripple, is that it is openly a platform for tracking IOUs so hopefully its users are better able to keep contstantly in mind that money is IOUs and that the value in an IOU lies almost entirely, maybe totally entirely except maybe to some numismatists, in the likelihood of its being "honoured" by being "redeemed"... Which is what a buy-side strong enough to absorb "dumps" tries to make feasible.


-MarkM-

Can is a very far fetched world in which this will never happen for 99.999% tokens or coins. Sure I would say that it is possible to be precise, but it is very improbable and this needs to be made clear. Most coins and tokens are completely dead and they are never coming back. If they do come back, it is a scam attempt by someone as this tactic is regularly used in every cycle. Anyhow, we have enough tokens and coins we don't need more.

Absolutely.

We have even been seeing and hearing-about total-scam pretend "revivals" of some of these classic ancient coins, sometimes seemingly picking some block from way way back in time when they had lots of the coin to fork from so in effect double-spending coins they already spent years ago; and sometimes just totally jumping off to a new chain lacking any connection to the original still-running ancient chain.

See for example https://bitcointalk.org/index.php?topic=46478.msg65456349#msg65456349 about their fake FairBriX...

Of course FairBriX's treasury from which the Galactic Milieu (https://MakeMoney.Knotwork.com/) calculates its treasury-based computed values seems unlikely to apply to some fake trumped-up pretend-revival of a coin that was already running all these many years, rather probably we will simply wait for the real, original chain to be continued from the high-difficulty block at which the scammers' mining abruptly vanished, presumably running off to hash some other scam-chain.

Noting the use of the "treasuries" system though could be a useful datum to help pick out the 0.001% of tokens or coins that might yet somehow manage to fetch themselves far back from the obscurity that evidently motivates the scammers to "revive" something that never (at least until they marooned it at high difficulty to stall its blockchain for gosh knows how long to come) died...

A nice side-effect of tokenisation is the tokens allow trading to continue even while the blockchain is marooned at a high difficulty waiting for its low hash rate to get it moving again, which is really just a side-effect of insulating the value from the dangers of the low hash rate by allowing for example hardcoded checkpoints to be coded into the node software following any "bailing in" of actual blockchain coins to the tokens/trading platform so that the tokens on the trading platform represent coins locked into place against double-spends by such checkpoints.

In the case of FairBriX it doesn't even seem necessary to create such a checkpoint to protect against whatever scam-chain they jumped off to, as even running the updated code that an old guard code-maintainer built for them before realising they were scammers the genuine original chain does not acknowlege the last of their scam-chains I tested. Though I suppose they could just keep on inventing new scam chains until they hit on one that will continue the original chain if no such checkpoint is created to protect the point that they did mine the original chain up to.


-MarkM-

^^

Interesting. So you're saying the same thing that happened with Bells, Luckycoin, BBQcoin & various other ancient coins also happened with Fairbrix? Not surprising really. Grifters gonna grift... You can't stop them. And our marketing resources pale in comparison to those of a well-organized grift machine.

What's worse is the Solana memecoins that are based on old coins & there are dozens of each one. Its like people are completely unable to develop original ideas these days.

In any case, it was interesting reading the Fairbrix thread (https://bitcointalk.org/index.php?topic=46528.0) started by Charlie Lee -- an attempt he made at creating a coin that predates Litecoin.

I wouldn't call this the altseason just yet. I know that we are doing fine, but it is not there yet. The start of it for sure, we have started something, but we are not there yet. You know that alt season starts when you see things not at ATH, because that's good, but not enough, you see alt season starting when it's stupidly high and you question yourself "how is this so high?"

Because you literally start to see things that are higher than it should ever be, and you are wondering to yourself how that even went that high. That's when you start to understand you are in the alt season. Right now everything is at a realistic level, nothing is at a stupidly high level. It would be like as if ETH was 10k. Not saying that's what will happen, but if it did, then you would say that's the real alt season.

I'm a bit more cautious about the start of the altcoin season, as ETH hit $4,500 today and we've begun a rapid rise. It's important to remember that these rises can be fraught with pitfalls, so I can't say we've truly begun. But I still think we're close. Current prices resemble those post-halving cycles. For ETH, I think it'll reach a peak price of $10,000-$11,000, but it's difficult to predict what that will be. Everyone is hyped and making predictions like 20-30k, these prices seem a bit exaggerated to me, to be honest.

ETH is now $4500. And this is the good sign that you're telling that it's going to boom. Other alts will but not all of them are going to be.

Maybe we're not yet there and it will all start when ETH finally hits $5k. And it's just around and we might just see that any moment soon. As of now, everyone is just going to wait and see how it will go for ETH for this week. If it reaches $5k before the weekend, that might give them a signal that we're already on the altcoin season.