ETH to $3500? But what about BTC dominance?

[Macro Exchange]

Ethereum is trying to push higher, with some calling for a move to $3500. But Bitcoin dominance remains above 60% and shows no signs of dropping.
Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

[Charles-Tim]

Do not follow what you are seeing on the news. I believe news has been the reason you may create this topic.

Some of them are speculating already that ether may get to $15000/$30000 but which are all lies. Do not buy the news.

This is an example: https://cointelegraph.com/news/ethereum-open-interest-hits-all-time-highs-trader-predicts-30k-price-top

Ethereum is centralized and maybe they are even sponsoring this. I just do not know.

They are all liars that want people to fomo.

[fikrett]

Focus is still on BTC.

The rally continues.

And alts don't get the spotlight before BTC falls hard enough.

[TheUltraElite]

Yo the real deal is with BTC and not ETH, ETH price may rise but this is secondary to BTC rise of price. This happens every time that BTC has some movement in price there will be movement in altcoins too.

Some ETH hodlers might take the opportunity to sell at this point so dont go in buying at this all time high, rather it is a point to sell if you own ETH already.

No need of putting any focus on altcoins, they are all a waste of time and money. Some might help to continue with payments when BTC network is clogged but nothing more.

[pooya87]

But Bitcoin dominance remains above 60% and shows no signs of dropping.

That is not dominance, that is market cap ratio. It is computed by dividing bitcoin's market cap by the sum total of thousands of altcoins' market caps. The only thing that it shows is that there are so many shitcoins in the market, nothing else about trends or anything like that.

Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Shitcoin pumps work something like this:
1. First phase (moderate pumps): when they are introduced initially they get some moderate sized pumps
2. Second phase (a big pump): when they gain popularity and a lot money is injected into the shitcoin. This is the biggest pump they experience in their lifetime
3. Third phase (little to no pumps): this is the final phase where people move on to other and newer shitcoins so this one has a hard time getting the same big pumps as before.

ETH is currently in the third phase. As a shitcoin, it had its big pump (second phase) back in 2017 when it reached 0.15BTC but ever since that pump, it has been going lower and lower (currently 0.02BTC).
In this phase (3rd) they can only pump it a little because people are no longer interested in this shitcoin and they prefer newer shitcoins that are in their 1st and 2nd phases that can give them the highest profit.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

ETH will continue going down in the long run.
But the real question is what is your objective? If you are a day trader in this market, then altcoins are still a viable option since they are still getting pumped and dumped which can be profitable. You just have to learn to find the pumps and stop wasting your time bag-holding shitcoins hoping for a pump that may never come.

[Dunamisx]

Ethereum is trying to push higher, with some calling for a move to $3500. But Bitcoin dominance remains above 60% and shows no signs of dropping.
Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

How possible is it to know the truth and still be perambulating around without making the right decision, i don't see anything important in what you're saying if we are at the end going to leave bitcoin for ethereum investment, knowing how far bitcoin has been performing and others cryptocurrencies like ethereum have not, as i do say it, this season may probably not be the best one for altcoins, its only for bitcoin and that is why we keep having all time highs and others are not making it to new high.

[Iranus]

Trust what you choose, don't trust anyone because their portfolio is not the same as yours.

If you ask bitcoin investors, they will definitely advise you to just focus on bitcoin, ETH will never go up in price and altcoin season will not come...But if you ask altcoin speculators, they will say that this is the time to focus on altcoins, bitcoin's dominance will soon collapse and the biggest altcoin season is approaching...

There will always be opposing sides in the market, there will never be a time when everyone is on the same side or has the same opinion.
DYOR is the key when investing in crypto, not relying on other people's advice.

[WatChe]

The focus must be on Bitcoin no matter how much gain an Alt is getting because we are not sure how Alts will behave in the long run. The Bitcoin price cycle is very much clear to us. Ethereum has huge supply of coins in circulation (around 120 million) and even PoS consensus algorithm wasn't able to reduce that. Along with Ethereum, XRP has also shown a pump of 25% over last 7 days and it's mainly because of Bitcoin price. The price of alts are very much linked with Bitcoin, they don't have the tendency to move on their own that's why I prefer investing in Bitcoin alone.   

[GPVibes]

I think what is leading to such news is the long awaited altcoin season since Bitcoin has gone comfortably in 6 digits. Altcoin hodlers also want to come to the party, I can imagine them checking up on their wallet often times to see if there is such radical price increase.

A propaganda is going on to move the altcoin market because just very few altcoins have had such increase like the top coins ,TRX, Sol, ETH, BNB. But the real push is what is waited for, maybe someone is likely trying to inspire that through manipulating the media and speculative market.

[Macro Exchange]

I think what is leading to such news is the long awaited altcoin season since Bitcoin has gone comfortably in 6 digits. Altcoin hodlers also want to come to the party, I can imagine them checking up on their wallet often times to see if there is such radical price increase.

A propaganda is going on to move the altcoin market because just very few altcoins have had such increase like the top coins ,TRX, Sol, ETH, BNB. But the real push is what is waited for, maybe someone is likely trying to inspire that through manipulating the media and speculative market.

Exactly - feels more like coordinated hopium than organic demand.
Everyone’s waiting for altseason, but maybe the market’s telling us: there won’t be one this time.
What if BTC is the party - and altcoins are just standing outside hoping to get in?

[CryptSafe]

Ethereum is trying to push higher, with some calling for a move to $3500. But Bitcoin dominance remains above 60% and shows no signs of dropping.
Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following the BTC lead without any independent strength?

 It is true that BTC is above 60% which is very much visible to see, and it is dominating, even ETH is not any way near bitcoin dominance in the crypto market, and the adoption is gradually increasing every day.

According to the CoinMarketCap dominance chart, Bitcoin has a huge dominance over other coins currently, and it is increasing. Although it was higher than it is now but that was the early years of crypto inception, and the markets have not been that saturated with shitcoins and other irrelevant crypto coins in the market.  However, even with the fact that there are lots of other coins in the market, they are not near the dominance of Bitcoin in percentage.

Below is an excerpt from the CoinMarketCap crypto dominance chart for your review.

[xzone]

I think bitcoin will continue its upward trend, even now trying to break a new record. We'll likely see a move towards around 140,000. After that, I think more people will start investing in cryptocurrencies, and I suspect dominance will decline. That's when the altcoin rally we've been waiting for will occur.
We'll see many altcoins experience significant gains in the next few days. Ethereum will likely follow a similar trend to bitcoin by then. I don't think it will make a standalone rise

[SquirrelJulietGarden]

3. Third phase (little to no pumps): this is the final phase where people move on to other and newer shitcoins so this one has a hard time getting the same big pumps as before.

ETH is currently in the third phase. As a shitcoin, it had its big pump (second phase) back in 2017 when it reached 0.15BTC but ever since that pump, it has been going lower and lower (currently 0.02BTC).
In this phase (3rd) they can only pump it a little because people are no longer interested in this shitcoin and they prefer newer shitcoins that are in their 1st and 2nd phases that can give them the highest profit.

In 2017 bull run, there were many altcoins with their unbelievable ATHs in BTC values, not only Ethereum made it. There are other altcoins like DASH, Monero, Obyte and more but such times for altcoins are no longer existing.

In a last bull run, I remembered one altcoin, YFI and perhaps you knew this one too. It rose to about 4 BTC for 1 YFI and from $3,000 to $95,000 even when Bitcoin did not make its bull run toward $20,000 in that time.
https://www.binance.com/en/trade/YFI_BTC?type=spot
https://www.binance.com/en/trade/YFI_USDT?type=spot
Now it is dying in this bull run and it's easily to guess how it will fall down more in a coming bear market.

[Marvell1]

If we believe history will repeat itself (4 year cycle) and bitcoin will hit $150k or $200k before the season ends. We should also not stubbornly deny that if the market is cyclical, bitcoin's dominance will inevitably decline sooner or later. ETH and altcoin season is inevitable as it has happened in previous cycles.

But as we have seen, this bull season is a bit different from previous seasons with the participation of ETFs, funds...so the altcoin season may also have changes. We cannot expect them all to grow together and give 10x, 100x returns like previous cycles.


In short, many people have been looking down on and laughing at ETH, thinking that it will not grow in this cycle. Should reconsider as it is trading above 3k2$ and heading towards 3k5$ or more. It has even outperformed bitcoin over the past few days.
I could be wrong but this could be a sign that bitcoin dominance is reversing and altcoin season is coming.

[avikz]

Ethereum is trying to push higher, with some calling for a move to $3500. But Bitcoin dominance remains above 60% and shows no signs of dropping.
Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

It's a marginal drop in Bitcoin dominance so I am not really worried about it. There's no real reason to focus on altcoins anytime soon. ETH is a different case. Just the way Bitcoin is a pioneer in crypto market, ETH is a pioneer in smart contract feature. So it has its own strength. It's great to see that ETH is picking momentum.

Bitcoin's dominance will remain as it is. Even though we will see some marginal increase or decrease, it is really not something to be worried about.

[henry_of_skalitz]

Ethereum is trying to push higher, with some calling for a move to $3500. But Bitcoin dominance remains above 60% and shows no signs of dropping.
Even ETH.BTC looks weak- altcoins just can't gain momentum, not even in relative terms.

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

It's a marginal drop in Bitcoin dominance so I am not really worried about it. There's no real reason to focus on altcoins anytime soon. ETH is a different case. Just the way Bitcoin is a pioneer in crypto market, ETH is a pioneer in smart contract feature. So it has its own strength. It's great to see that ETH is picking momentum.

Bitcoin's dominance will remain as it is. Even though we will see some marginal increase or decrease, it is really not something to be worried about.

Yep.

To topple down the dominance of BTC's rally, there would be a need for a multitude of events, not one or even two.

[Mrbluntzy]

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

If ETH had its independent strength like you thought, it would have surged above $5,000 to at least show it's strength and how it can be independent of Bitcoin bullish movement. If you observe the price movement of ETH and compare it with Bitcoin movement during bull season, you will observe that Ethereum is usually slow and I guess it's because it needs to depend on Bitcoin for it to surge, just my observation, I could be wrong about that but I know for sure that ETH depend on Bitcoin. If you want to focus on altcoins right now, it should be to make quick profit during this period that some of those coins are pumped, if you buy to hold for a long term, you will blame yourself because dump will happen and after the dump, your altcoins might not pump again.

[coolcoinz]

Focus is still on BTC.

The rally continues.

And alts don't get the spotlight before BTC falls hard enough.

IMO there will be no altcoin season in the way that bitcoin gets to a new high and people start investing gains from btc into altcoins. Now that bitcoin is so much more popular than any other coin, those who take profit will exit into goods and services. In other words, nobody will sell BTC to get ETH. If they decide to sell BTC it will be to exit at the top and buy more when it dips, or to get a house, car, and things like that. ETH is screwed. IMO it's a matter of time before it gets forgotten because people are already building on other chains.

[Macro Exchange]

Is there any real reason to focus on altcoins right now while BTC still controls the market?
Or will ETH just keep following BTC lead without any independent strength?

If ETH had its independent strength like you thought, it would have surged above $5,000 to at least show it's strength and how it can be independent of Bitcoin bullish movement. If you observe the price movement of ETH and compare it with Bitcoin movement during bull season, you will observe that Ethereum is usually slow and I guess it's because it needs to depend on Bitcoin for it to surge, just my observation, I could be wrong about that but I know for sure that ETH depend on Bitcoin. If you want to focus on altcoins right now, it should be to make quick profit during this period that some of those coins are pumped, if you buy to hold for a long term, you will blame yourself because dump will happen and after the dump, your altcoins might not pump again.

True, ETH hasn’t flipped BTC-  but it doesn’t have to.
It’s building real utility: staking, L2s, DeFi, NFTs, institutional interest.
It may still depend on Bitcoin’s momentum, but it’s slowly earning its own place.

[Zanab247]

The focus must be on Bitcoin no matter how much gain an Alt is getting because we are not sure how Alts will behave in the long run.The price of alts are very much linked with Bitcoin, they don't have the tendency to move on their own that's why I prefer investing in Bitcoin alone.    

BTC is still leading other altcoins for people to focus on BTC hodling not to sell in the short time, because they know how profitable it is for those that will hodl for long time for the price to break into another ATH. For ETH, I guess it will continue to maintain positive results to those that will make it a shot time hodling, because ETH is profitable in the short time compare to other altcoins that use to disappoint within the short time of hodling.

To me, hodling only only BTC is a big risk, because a time Will come when you need to sell small coin to solve some financial issues but if you are hodling BTC at the moment, it will be hard for you to sell BTC in the bear run.