Ether’s recent rise is the first step toward significant gains for altcoins as traders show a “risk-on appetite,” said crypto trader Michaël van de Poppe.
Markets News
Ether has continued to hold strength, signalling that altcoins may be gearing up for an explosive rally of up to 500% as early as October, said a crypto analyst.
However, not all traders are convinced Ether’s () current uptrend will last.
Altcoins may start posting gains by October
MN Trading Capital co-founder Michaël van de Poppe in an X post on Thursday that he is “all-in” on altcoins, adding there could be “200-500% to be made in the next 2-4 months.”
“The recent move ofETH is the first step forward to a more risk-on appetite,” he said.
Ether has gained 6.09% in the past 24 hours, to trade at $3,854 at the time of publication, to Nansen.
The ETH/BTC ratio, which measures Ether’s relative strength against Bitcoin (), is up 38.53% over the past 30 days, to TradingView.
Many market participants perceive Ether’s rising price as a key indicator for upcoming altcoin rallies, signaling a shift in investor appetite toward higher-risk assets beyond Bitcoin.
Will Ether go against the trend of a weak Q3?
Trader Ash Crypto not to ignore Ether’s historically weak performance during this time of year, as August to September “are generally bearish months for crypto, so I would be cautiously bullish.”
The third quarter has historically been Ether’s weakest-performing every year since 2016, delivering an average return of just 6.48%, to CoinGlass.
Some market participants remain skeptical about the continuation of the rally. Crypto trader Muneeb that, in his opinion, “this leg is done for now.”
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A to $4,000, representing a 3.7% spike from ETH’s current price, would put roughly $817 million in ETH short positions at risk of liquidation.
Others are suggesting that history will not repeat itself this time around. Crypto trader Cas Abbe in an X post on Thursday that “this is the perfect time for ETH to rekt the bears,” pointing to declining supply on crypto exchanges and rising institutional interest.
Meanwhile, crypto analyst Wolf , “don’t act surprised” if Fundrat’s Tom Lee’s recent Ether prediction of $16,000 comes to fruition.
“Volatility, disbelief, then verticality,” Wolf said.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
