- Ethereum’s 6.09% price jump to $3,854 signals a potential 200-500% altcoin rally by October, says trader Michaël van de Poppe.
- The ETH/BTC ratio rose 38.53% in 30 days, showing growing investor interest in riskier altcoins.
- Some traders doubt the rally due to Ethereum’s historically weak Q3, but others see strong fundamentals pushing ETH toward $4,000 or higher.
Ethereum’s price jumped 6.09% to $3,854 in the last 24 hours, sparking hope for a huge altcoin rally.
Crypto trader Michaël van de Poppe says this could be the start of altcoins soaring 200-500% by October, as investors get bold and dive into riskier assets.
The ETH/BTC ratio, showing Ethereum’s strength against Bitcoin, is up 38.53% in the past month, a sign that altcoins might shine soon.
Skeptics and Bulls Clash on ETH’s Future
Not everyone’s sold on Ethereum’s hot streak. Trader Ash Crypto warns that August and September are usually rough for crypto, with Ethereum averaging just 6.48% returns in Q3 since 2016.Some, like trader Muneeb, think this rally might fizzle out. But others are super bullish.
Cas Abbe says falling exchange supply and growing big-money interest could crush the bears. Analyst Wolf even backs a wild $16,000 ETH prediction by Fundrat’s Tom Lee, saying “volatility, disbelief, then verticality.”
Ether is trading at $3,854 at the time of publication. Source: Nansen
If ETH hits $4,000, a 3.7% jump, $817 million in short positions could get wiped out.The crypto world’s watching to see if altcoins explode or if history repeats with a Q3 slump.
Also Read: Crypto news today: A quick look at the major updates and events
