It seems like Bitcoin (CCC:BTC-USD) can’t make up its mind. The token-in-chief has been teetering on the edge of a bull run. Yet, at the same time, it feels like it could all fall apart in seconds. While analysts continue debating the future of BTC, a challenger is silently positioning itself to dominate. Ethereum (CCC:ETH-USD) is breaking out to a new all-time high today, and the lowered dominance of Bitcoin is spurring some very bullish Ethereum (ETH) price predictions.
Bitcoin dipped this morning to a price of $52,000. That’s about $12,000 short of its record high, which it saw not a week ago. As the crypto struggles to regain its footing in the effort to breach $65,000, investors are not impressed. Even worse for Bitcoin bulls is the news that BTC is losing its supremacy over the crypto market.
Today, Bitcoin holds only 50.1% of the crypto industry’s market capitalization.
Bitcoin Struggles Lead to Bullish Ethereum (ETH) Price Predictions
As Bitcoin dominance drops below 50% for the first time in years, altcoin traders are becoming very bullish. After all, the last time Bitcoin lost over 50% of the total market cap, altcoins surged. At the forefront last time was ETH, seeing aggressive gains in the wake of Bitcoin’s struggles. This time, the ETH token is looking to lead Altcoin Season again, powering itself up toward the top.
Ethereum (ETH) price predictions are looking to the moon in the wake of faltering Bitcoin. Let’s take a look at just how much analysts expect ETH to gain:
- InvestingCube is eyeing a $3,000 valuation for ETH as it takes its bullish run closer to BTC.
- Capital is also calling for ETH to reach $3,000 by the end of 2021. The site predicts that price to then double by 2023, taking the coin to $6,000.
- The Economy Forecast Agency takes a more bullish stance, predicting a high of $4,500 by December.
- There are Ethereum bulls that think the coin could take an unprecedented run this year and gap up by tens of thousand of dollars. PrimeXBT is one such Ethereum bull, predicting a price explosion to the tune of $22,000 by the end of the year.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.
