It’s our firm conviction that Ethereum (ETH) probably has one of the strongest bullish biases on the macro scale, compared to other top altcoins, as well as the promising ones. Perhaps there’s no need to reiterate that this conviction is based on Ethereum’s fundamental value that is going to increase exponentially once Ethereum 2.0 gets properly launched. This would be a monumental event for the entire crypto industry, though it’s unlikely to happen this year as the developers have allegedly just released the deposit contract, with the beacon chain genesis remaining in the works.
But even with the constant delays, which is sort of a habit of the Ethereum Foundation, justified only by the sheer scale of the challenge, the second cryptocurrency has been doing extremely well in terms of gains and price action:
- 112% to the upside against USD, to date;
- 41% gained against Bitcoin (BTC) over the past twelve months.
The buyers must hold the support
Year-to-date ETH/BTC comparison chart
It’s evident from the YTD chart above that Ethereum’s relentless strive to the upside after the March market meltdown has been cooled off a bit by Bitcoin’s performance in the last few weeks, though the difference in gains between these two remains striking.